7 key benefits of legal document automation
To remain competitive and profitable, firms need to find ways to streamline processes, reduce redundancies, and improve efficiencies. One easy method for accomplishing these goals is to implement technology that gives you document automation capabilities.
Can legal documents be automated?
The answer: yes. While there are countless advantages to using automation for your legal documents, here are just some of the key benefits of document automation:
- Increased workflow efficiency
With document automation, you can create a wide range of legal documents in a fraction of the time it previously took, and document lifecycle steps such as approvals and eSignatures will be streamlined and automated.
- Increased profitability
Since document automation reduces the time it takes to create documents, lawyers are free to work on other matters. More clients = an increase in overall firm profits.
- Reduced likelihood of errors
When lawyers are forced to create legal documents from scratch, it increases the likelihood of mistakes. Document automation eliminates these concerns, producing document templates that are accurate and consistent.
- Integration with other technology
Automated data inputs from integrated systems, so your information is entered in only one place and can be easily reused.
- Retention of firm “know-how”
A lot of brainpower and know-how can be lost when lawyers leave a firm. But, document automation can remedy this since it essentially serves as a continuous repository of firm knowledge.
Bonus: it can help speed up the onboarding of new lawyers at your firm.
- A better customer experience
Being able to produce customized legal documents quickly provides a better experience and improves client satisfaction and retention.
- Attract new clients
Today’s clients are technologically savvy and expect a lot – and document automation can deliver on those expectations. By offering self-service options for clients to access and create contracts when they need them, they will remember their experience and will likely return to your firm if new legal issues arise.
For decades, law firms have operated under a business model where lawyers spend much of their day on time-consuming tasks like researching and drafting contracts and other detailed legal documents. As technological advancements continue to permeate every aspect of life, law firms may want to start exploring ways in which they can harness and use this technology to their advantage.
Making the case for document automation adoption
The document automation process is as simple as it is effective. It uses your firm’s already existing legal documents – including contracts, purchase agreements, estate planning documents, leases, licenses, etc. – to generate automated templates, which you can use to produce new legal documents.
Today’s legal marketplace is more crowded and competitive than ever, and law firms must find ways to differentiate their services and approach from those of their competitors. Document automation delivers significant benefits to lawyers and their clients – helping your firm be more targeted and strategic.
Are you ready to implement a document automation process?
From how you promote your firm to how you interact with clients, technology is rapidly changing the way your firm operates and how you do your job. Even if your firm has been slow to embrace new technologies, your clients are using them and expect you to be able to quickly deliver the detailed documents they need to resolve their legal issues.
The hard truth is that firms that fail to adopt new technologies and continue to operate under outdated business models risk being surpassed by competitors and seeing their client and profit bases dwindle. Adopting document automation is an effective way to not only gain an advantage over competitors, but also attract and retain clients while increasing your firm’s profit margins.
How do you automate a document process?
Document automation may sound complex, but it really is simple and produces countless benefits to your day-to-day work. Explore document automation solutions, benefits and featured insights for your law firm today.