Five key benefits of automating the legal function for Business

In today's world, where technology is developing at an incredible speed, automation is becoming an integral part of many areas of activity. The legal function is no exception.

According to the results of a survey conducted by Legal Insight1in 2023, automation of the work of lawyers in the company is one of the priority areas of activity for managers. According to Gartner research2By 2025, the cost of automating legal departments will triple.

In this article, we'll look at five key benefits that automation can bring to a business.

One of the main advantages of automating legal processes is the acceleration of processes and reduction of time for performing routine repetitive tasks. For example, filling out and coordinating standard templates takes a lot of time both for the legal department and for the company that is interested in quickly signing the contract and completing the transaction. Automation allows you to fill in data automatically in the already agreed contract form, which does not require the approval procedure from the legal department. In this case, the number of errors is reduced to a minimum, and the receipt of documents for the transaction is reduced by 2 times.

Automation also helps reduce the time it takes to process and analyze legal information. This is especially true for companies that work with large volumes of data.

Examples of technological solutions that help speed up the processes of document analysis, completion and approval are:

• document designers: Doc.one, Doczilla, FreshDoc, TurboContract;
• assistants in checking and analyzing contracts: embedika;
• document management systems: Docsvision, DreamDocs.

Another advantage of automation is preventing company losses associated with lawyers' errors. For example, a mistake by a company's lawyers when calculating the amount of a penalty or missing the deadline for filing an appeal can result in financial losses. Task management systems, notifications in court hearing tracking systems, and customized calculators would help the company's lawyers track cases automatically, calculate amounts in one click, which would minimize the risks of not receiving the company's due payments.

Examples of such solutions are:

• project management systems such as Case.one, Jeffit;
• chatbot for conducting legal cases: InfoCourt;
• systems for recording court cases: Recording of court cases.

Task management and time tracking systems allow you to track the workload of employees to avoid overloading some and under-occupation of others. This helps to organize the stable work of the legal service by monitoring deadlines and receiving reports on employment from the systems.

Automation also allows for greater transparency in the legal department. Managers can receive information about the tasks performed by employees and analyze the performance of each employee. This can help identify weaknesses in the legal department and take steps to eliminate them.

Legal department management systems, such as Lexia and A2. Time, will help solve the problems of tracking the workload and increasing the transparency of the legal service.

An equally important advantage of automation is the formation of a database of court cases, contracts and other documents. By analyzing the history of claims and court cases with a counterparty, a business can improve the quality of transactions (revise the terms of contracts, interactions with the counterparty).

Data analysis also helps identify trends and patterns in a company's legal practice. This can be useful for predicting future litigation and taking appropriate mitigation measures.

For example, to analyze the activities of a counterparty, you can use the counterparty verification services: SPARK, Kontur. Focus, and to take into account the history of legal proceedings, you can use the lawyer's case accounting system with report uploading, for example, XSUD.5. Cost reduction

Employees can perform more tasks in a shorter time and at lower costs. For example, the implementation of a document designer with a large flow of standard documents can reduce the time spent on document generation by up to 30%, and electronic document management can reduce the costs of exchanging paper copies.

Thus, automation of legal processes is an effective tool for increasing the efficiency of a company and optimizing costs. Implementation of technological solutions will ensure the effective functioning of the legal department and improve the quality of customer service, and the business will focus on strategic tasks, leaving routine work to automated systems.