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Document Automation for the SME

Document Automation for the SME

In many of our recent articles, we’ve discussed automation in the enterprise environment in great detail. We even hosted a webinar with industry leaders PwC, where we discussed how they were able to implement Legito across multiple offices in their global professional services firm. 

 

But the question was raised: “Can Legito work for SMEs as well or is it just for enterprise?” We discussed at the time that many of our customers are SMEs and that there are significant benefits that come from document automation for smaller businesses as well.  

In many of our recent articles, we’ve discussed automation in the enterprise environment in great detail. We even hosted a webinar with industry leaders PwC, where we discussed how they were able to implement Legito across multiple offices in their global professional services firm. 

 

But the question was raised: “Can Legito work for SMEs as well or is it just for enterprise?” We discussed at the time that many of our customers are SMEs and that there are significant benefits that come from document automation for smaller businesses as well.  

What are those benefits? And how can a smaller business – say 10 users – find a benefit from document automation and/or contract lifecycle management.

Here are some examples:

 

Tedious tasks are a thing of the past

Those who have worked in a small-firm or small/medium company environment know that some documents – for example engagement letters, scopes of work, and/or master services agreements take a surprising amount of time to complete – not just because they need to be drafted, but because they need to be reviewed and checked for errors before they leave the office. Document automation helps tremendously here, because you can guarantee that a change to say – the parties names, or an address or payment rate – will be carried through the document automatically, removing the need for line-by-line review. Contract lifecycle management also allows for workflows and notices to be provided – immediately answering the question that “yes”- the Managing Partner has read the document. Things like real-estate closing binders are also a snap, because where documents are managed electronically, the time to copy and produce a binder is minimized to the time it takes to enter a few keystrokes and click “print.”

 

More billable time

Small firms – just like large firms live and die by how much revenue they can generate. Because automation allows documents to be automated and managed throughout their lifecycle with less review, more billable time can be spent on more valuable work, as opposed to reviewing and making small changes (and reviewing) in larger documents. This means more client matters and less time spent per client on non-billable or low-rate billable activities. 

 

Customer/client satisfaction

Don’t let the header of this section fool you. Customers – be they legal clients or professional services clients, or even customers for your goods – all appreciate quick turnaround when they need documents generated, or want to negotiate deals, or have guidance provided. Document automation makes that possible – turning document drafting from a cost center into a revenue generator. We covered this topic in more detail here, but the gist is simple: Deploying resources in management, maintenance, assembly, and review of documents creates bottlenecks that cause delays – frustrating clients, customers, and co-parties, up and down the chain. Automation removes those bottlenecks and turns on the pipeline of information. Now a client can give your small to medium business a request; be it deal terms, etc, and expect documents back within hours, rather than the days or weeks it will take with standard drafting and management methods. Customers are happy, and so is your firm. 

To find out more about how document automation can help your SME, schedule a demo via the form here.

What are those benefits? And how can a smaller business – say 10 users – find a benefit from document automation and/or contract lifecycle management.

Here are some examples:

 

Tedious tasks are a thing of the past

Those who have worked in a small-firm or small/medium company environment know that some documents – for example engagement letters, scopes of work, and/or master services agreements take a surprising amount of time to complete – not just because they need to be drafted, but because they need to be reviewed and checked for errors before they leave the office. Document automation helps tremendously here, because you can guarantee that a change to say – the parties names, or an address or payment rate – will be carried through the document automatically, removing the need for line-by-line review. Contract lifecycle management also allows for workflows and notices to be provided – immediately answering the question that “yes”- the Managing Partner has read the document. Things like real-estate closing binders are also a snap, because where documents are managed electronically, the time to copy and produce a binder is minimized to the time it takes to enter a few keystrokes and click “print.”

 

More billable time

Small firms – just like large firms live and die by how much revenue they can generate. Because automation allows documents to be automated and managed throughout their lifecycle with less review, more billable time can be spent on more valuable work, as opposed to reviewing and making small changes (and reviewing) in larger documents. This means more client matters and less time spent per client on non-billable or low-rate billable activities. 

 

Customer/client satisfaction

Don’t let the header of this section fool you. Customers – be they legal clients or professional services clients, or even customers for your goods – all appreciate quick turnaround when they need documents generated, or want to negotiate deals, or have guidance provided. Document automation makes that possible – turning document drafting from a cost center into a revenue generator. We covered this topic in more detail here, but the gist is simple: Deploying resources in management, maintenance, assembly, and review of documents creates bottlenecks that cause delays – frustrating clients, customers, and co-parties, up and down the chain. Automation removes those bottlenecks and turns on the pipeline of information. Now a client can give your small to medium business a request; be it deal terms, etc, and expect documents back within hours, rather than the days or weeks it will take with standard drafting and management methods. Customers are happy, and so is your firm. 

To find out more about how document automation can help your SME, schedule a demo via the form here.

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