Data Automation for Corporate Law Firms
August 5, 2020
Corporate Law firms deal with cases both civil and criminal and there is no need to mention the number of details that go into each and every case. On a single court day, the amount of paperwork that floats around and is processed is beyond imagination.
Legal Firms need to hold on to judicial, legal, state, corporation, and administrative, police, and medical files on each and every individual that is related to a single case. Imagine the amount of data and the pile of paperwork a corporate legal firm would hold on a typical day.
And now try to imagine adding individual information to each of these cases in a periodical manner to update each case.
This kind of heavy manual work becomes excessively mundane and tedious for employees to handle. There is also a fair share of error and time that goes into filing and compiling these files and data pertaining to each case file. This is where Legal Contract Automation comes into the picture.
Legal Contract Automation is a software application that uses an AI or an Artificial Intelligence System to preside over the data that is handled by the application software. The Automation process can individually file all of the data, check for errors, discrepancies and compile and update information as per demand.
Why Use Automation Software?
The need to use automation software is to minimize the number of hours that go behind filing and organizing big chunks of corporate data every single day. Below are some of the reasons why a corporate law firm should consider investing in Automation software:
1. Reduce Manual Work
As an employee at a legal firm, you may have to deal with legal contracts day in and day out, those pertaining to other corporate firms, contracts that are involved in disputes, legal files from cases, etc. A typical legal contract can up to tens and hundreds of pages and can be extremely difficult to process. On a typical day, an employee will need to go through multiple contracts such as these.
This may lead to extreme difficulty in processing the information, manual errors and missing out on vital data, excessive time consumption, and delay in processing. All of these reasons contribute to why a company must use Automation software such as Legal Contract Automation software.
A legal Contract Automation software is programmed with the help of AI to go through important data and to concisely the data and give out useful information. The software can detect clauses that can be important to point out using Artificial Intelligence. The software can process 1000’s pages of redundant data and give out a summary with just the most important points as required by the company reducing the precious hours that would otherwise go behind compiling these contractual data.
2. Completely Customisable Platform
The Artificial Intelligence-driven software solution is completely built around the firm’s requirements, therefore providing the company with the ease of creating tailor-made solutions for their clients.
The software can process case files, contracts, leases, agreements, addendums, amendments, and other important documents with ease.
The software can help you in summarizing all the key points with important dates, information pertaining to the individuals, and timelines, highlighting risky clauses and conditions that may or may not have been pointed or discussed.
The software also links the automation application with the main system software that your company runs on such as databases, connectors, workflow management, and therefore helps you with end-to-end automation.
This creates an environment of resources that work intellectually and with minimum supervision, saving you a ton of billable hours and improving your company’s efficiency.
3. Ease of Use
If you are a firm with multiple locations and multiple site offices with various different people accessing your data, then automation can be a lifesaver. The number of offices and people involved only increases the amount of data that flows through the platform.
Single automation software can help you remotely access data from anywhere without the need to actually be present in a specific location. The integrated software can access data from your company’s software remotely and securely.
It can also update the information in a periodic manner from any location at any given point in time, therefore improving your productivity and efficiency within the firm.
These are some of the most important reasons why you must consider automation software for your law firm. Automation software can make an employee’s life much easier, reducing his paperwork and allowing him to focus on what is most important.