Like many aspects of life and work, legal tech has greatly evolved over the past decade. Contract management is now a vital part of the process. In fact, with modern contracting, change management and approval workflows can be kept at the tip of your fingers.
Focus on law strategy, not paperwork
Also, when your company uses a contract automation solution, there is no need to involve the legal team in every deal. Since automated documents are set up with rules and processes by a controlling function such as Legal, other members of a team are able to create compliant contracts on their own. When Legal automates these processes, they have more time to focus on strategy instead of paperwork.
With the use of automated templates, Precisely’s law firm software lets anyone create compliant and reliable contracts in minutes. In particular, our contract management platform works with all types of contracts to let you create exactly what you need faster than ever.
Setting contract rules
What’s more, rules are set so that the agreements always stay within the legal department’s pre-approved guidelines. Not only does this increase efficiency, it reduces (if not eliminates) human errors and thus greatly increases the quality of your contracts. From there, it takes only a few minutes to sign a document using Precisely’s legally binding e-signatures.
Document management for law firms and legal teams can be challenging, often involving high volumes of contracts with different terms. Precisely’s automated contract management platform sends email alerts when important events related to your contracts are getting close. This makes the Precisely platform a useful software for law firms.
Share reminders through smart software
These automated reminders save a lot of time and stress over deadlines. Plus, it’s simple to add team members to receive alerts. When you share reminders with more than one user, the chance of missing a deadline is almost non-existent. Also, they will have an overview of upcoming contract events on their dashboard. This makes it simple to know which contracts have or have not been signed. When you combine this with smart reminders, you stay on top of when to renegotiate, renew, terminate or take any other contract-related actions.
A successful workflow needs smart archiving so that you, or anyone else on your team, can easily access your contracts from anywhere. With this in mind, Precisely’s law firm contracting software has online servers. As a result, you keep all your contracts in one place. Also, with contracts stored in a central online system, finding the document you need is no problem at all, whether it’s for comparison, renewals or inquiries. The intuitive interface makes it simple to get information on which documents have been signed, expired, or are waiting for approvals.
Access to the law firm software
Furthermore, with our access policies, companies can also set user permissions. Once this is active, access is limited to prevent unwanted edits. This greatly reduces risk to your business. With such a solution, there’s also no need to worry about compliance issues or missing data.