Embrace a Manageable Workday  With Automated Contract Management

Embrace a Manageable Workday With Automated Contract Management

Published on : 07/12/2020 07 December Dec 12 2020

For Lawyers, In-House Counsel, and Law Practices
A common adage, “Take care of the little things, and the big things will take care of themselves,” is true for legal operations. If you miss a contract deadline or create a weak Force Majeure clause, your reputation and liability are at risk. With multiple client projects and priorities, your legal business may need to automate redundant tasks and manage all those “little things” to simplify complexity.

 The Vision of a Manageable Workday

“Our fatigue is often caused not by work, but by worry, frustration, and resentment.” Dale Carnegie.

Do you find that wearing multiple hats in your organization is overwhelming? 
Are there gaps in your processes that are allowing errors to escape? 
When was the last time you missed a critical expiration date? 


If one or more of these issues sound familiar to you, it may be time to look at contract management automation. And if you are not there yet, growing legal organizations will need to address this sooner rather than later.
Weak contract management can bring your legal operations to a standstill. 

Streamline work and improve job satisfaction by relieving yourself and your staff from mundane tasks that contract automation can handle better. Free your department to do higher-value work as well as drive more volume. To reduce frustration and worry, standardize your contract management processes so you can achieve more with fewer resources.   

You can successfully reduce human error through automation. How? By taking tasks out of human hands. For instance, your staff can use validated contract models (templates) to fit different scenarios, so no one is forced to “reinvent the wheel.”

If the heart of your work involves contract management, having a rock-solid contract management solution can transform your business. Imagine having access to a robust process enforced by templated contracts to ensure that you never miss a thing. 

Contract negotiations involve back and forth communications. Your contract management solution should provide a secure way to collaborate confidentially. You should be able to facilitate the exchange of information in real-time for more meaningful and streamlined dialogue. Access to a private chat accelerates communications to the next-level – a level that your customers and colleagues expect.

Integration with tools that you already use can make your work even more productive. If your solution enables you to work from Word or Outlook and save directly to a centralized database, you can experience better efficiency and user adoption.

      With a boost from automation, your team can adequately execute your contract and riders. Gain a 360-degree view of the pre-contractual negotiations, deadlines, dates, parties to the agreement, and critical information to react quickly to inquiries and expedite the contract life cycle. 

When it is time to acquire contract signatures, allow signing from anywhere, anytime, and on any device. Your solution should allow you to drag-and-drop to the database while maintaining version control. 

What else can make your day more manageable? Save time and make short work of demanding data entry. What if your legal software automatically fills in critical data for documents that require data entry?

What if you could scan all your documents and images digitally to become searchable and findable whenever you need them? OCR scanning capabilities are the answer to keeping crucial information within reach. 
 

What Can Contract Automation Bring to Your Organization?

Keep expenses under control. You don’t need to add headcount to solve every new problem. A superior contract automation solution will require fewer resources to deliver timely and accurate information. 

Identify the projects worth winning. Protect yourself from projects that could be unmanageable. You can establish criteria to make sure you win the opportunities that make sense for your capabilities. 

Keep surprises to a minimum. Improve efficiency by managing all the details. With contract automation, you can keep all the balls in the air without being overwhelmed. 

Apply standardization. Allow every team member to produce the same high level of accuracy to reduce risk and liability. 
 

Automation can Cure Your Biggest Contract Management Headaches 

  • Storing and finding the latest contract version and ancillary documents.
  • Expediting negotiations and accelerating the contract life cycle.
  • Automatic alerts so you never miss another critical date. 
  • Review software solutions that are ISO 27001 secure.
  • Evaluate technology resources that understand modern automation and have a legal background that allows them to convey best practices for your processes. 

For more information about automating your legal operations, check out our blog: 
Watch Productivity Soar as Your Next Hire Takes on the Boring Stuff 

About the author: Legal Suite is the worldwide leader in digital transformation for lawyers. We have delivered our state-of-the-art software for lawyers, law firms, and in-house general counsel to 65,000 users for over two decades. www.legal-suite.com

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