Changes over the past decade mean smaller teams, as well as large corporations, have great opportunities to break down silos and achieve alignment across departments. With the help of technology, it’s now easy to make contract management simple for all to use. But do companies know the easy solutions available, how to access them, and the significant impact they can have?
Legal is in the perfect position in a company to collaborate with all internal stakeholders. They can be the driving force behind a transformation that enables sustainable progress and success in business.
Technology is the key and we strive to be in the forefront of changing how people view the legal profession. We are on a mission to un-swamp the world’s legal teams. Our goal is to automate tasks and simplify collaboration, whilst ensuring compliance. And all in a user-friendly platform! We want to make everyone feel confident handling contracts.
Simple and universally accessible solutions to complex problems
Precisely wants to showcase solutions that all companies can easily implement, even without a legal department or background. The existence of AI in legal tech has rapidly developed over the past year, as well as the possibilities for contract automation and centralized platforms. At the very least, these tools take the burden off the legal departments. In turn, this allows them to focus on greater issues.
We believe that the best choice for modern contracting, with the highest customer satisfaction level, is a system that is universally accessible to all.
One of the most important developments to using an online contracting platform has been the increased ease of onboarding with a user-friendly interface. This is something we believe one should be able to take for granted today, but a frequently mentioned attribute in our own Precisely customer case studies.
“The onboarding was fast. Already in a couple of days we were comfortable creating templates, generating contracts, using metadata, and storing agreements.” – Supercede
“… Precisely’s service has been amazing. Everyone using the platform agrees that the onboarding process was easy. Even those who are not as digitally savvy could follow along.” – Eton
The right solutions enhance efficiency and revenue. Improvements in legal tech have led to greater collaboration, lower administrative costs, and an easy workflow. We want all companies to be aware that today’s legal tech software is available to absolutely everyone.
The future is bright – and automated
As for what the future of Legal Tech looks like, we expect even more AI applications to emerge. What’s more, tedious and repetitive legal tasks will be almost completely eliminated. These new tools and applications can completely change the way legal departments are organized. Not to mention, how they focus their resources. As more companies implement contract automation and archiving tools, there will be no need for Legal to spend time on repetitive contracts. This can be handled by another department with ease without any risk of compromising on compliance.
In the next few years, the value of having a digital strategy in place for the legal function will re-shape the legal contracting role.
The possibilities of how to work remotely and efficiently by implementing online legal tools has been moving at a faster pace, out of necessity. This push led to some outstanding innovations which are only continuing to flourish. More and more people are embracing digital signatures. Online tools are also becoming more user-friendly. In addition, businesses have enabled new tech tools in record time due to the increase in distance working.
All in all, we are likely to continue to see an increase in contract management and analysis tools across the board for legal firms. Not to mention, a range of companies in many industries with document and contract management needs. Our plan is to continue to be at the forefront of the latest legal technology, while also putting focus on accessibility and a user-friendly experience.
We are excited about being part of the rapidly growing transformation to online legal tech. Our aim is to show all companies a simple way to manage their legal functions. Not only in a way that helps their business, but also builds customer loyalty.
It’s easier than you think to transform your overall legal workflow. Find out more about how a contract management solution can make your business even more successful. And if you want to learn more about how we see the future of legal tech, find our trend report here.