If you manage a corporate legal department, there are three telltale signs that you might get significant value from automating the creation of your day-to-day business contracts.
Automation makes it easy for your internal clients to follow approved processes. As a result, they're happy to comply. They're presented with an intuitive web-wizard containing business-friendly interview questions.
Standard transactions - after answering the questions, clients get auto-generated, execution ready documents (in PDF format) tailored to their requirements. Instant access to legally pre-approved documents allows them to quickly "get on with business."
Non-standard transactions - by the same token, higher risk or more complex deals are automatically flagged and routed to Legal for review (in Word format).
The best thing is that you're now able to track all the company's agreements, and gain deep visibility into the types of transactions being entered into by the business. It also frees the legal team up to focus on value-added work. Which means that less stuff needs to be sent out to expensive external lawyers.
Automating contract drafting enables you to cut costs and reduce risk, while also being more responsive to your internal clients. Happy internal clients; happy legal team; happy finance department. A win-win-win.