Self-service contract creation uses the wonders of document automation to reimagine the contract creation process. Forget bottlenecks within your legal department – self-service contract creation means anyone in your organisation – legal or not – can create a complete and fully compliant contract, increasing efficiency in the way you work while minimising the risk of errors.
How it works: the nuts and bolts of self-service contract creation
Self-service contract creation often works by running users through a series of web-based questions designed by the in-house legal team or your law firm. As users proceed through the questionnaire, the software collects relevant data and guides you through the document creation process.
Then a complete and fully compliant contract is generated. All you need to do is arrange for execution, either the good old-fashioned way or via e-signature.
The key benefits of automating the creation and approval of contracts
Adopting this technology can be an absolute game-changer for an in-house legal department, but also for sales personnel and key decision makers in your organisation. Here’s why:
1. It saves time and allows staff to focus on what they do best
Simple, intuitive and business-oriented online questionnaires allow anyone within an organisation to generate contracts ready for approval. By enabling your employees to create contracts, you empower them to do their job as efficiently as possible. Salespeople, for example, rely on automated drafting for the creation and approval of non-disclosure agreements (NDAs), sales and procurement agreements. Self-service can effectively shorten the sales cycle in this area.
With a self-service contract creation solution, users receive a signature-ready, locked PDF when their request is complete and compliant, while incomplete, non-compliant or non-standard requests are routed for review to in-house lawyers. As a busy in-house lawyer you can focus on the contracts and important tasks that do need your attention, instead of drafting routine documents, while sales staff benefit from a more robust approval process. This saves legal departments considerable time, reduces bottlenecks for sales teams, and allows more effective and efficient use of brainpower overall.
2. Integration and mobile capabilities = more convenience and efficiency
The right contract automation platform should integrate with other software used by your organisation, and automates the entire process so that contracts are designed, generated, negotiated and executed all from one place.
The beauty of web-based contract automation? Smartphone and mobile connectivity means you can view and work on important documents even if you’re out of the office.
3. Reducing risk and errors in contract preparation
A self-service contract creation solution can enable users to structure a workflow throughout the lifecycle of a matter. By centralising contract templates and sharing common data across generated documents (e.g. specific clauses, terms and conditions, addresses etc.), manual and duplicated entries are reduced, meaning risks and errors are also reduced.
Claire Bibby, Senior Vice President Legal & General Counsel, Australian Office Division, at Brookfield Property Partners says self-service contracts are high on her in-house legal team’s agenda. Using automation means her team can “generate high volume contracts, reduce or eliminate delays (and thus the threat of the legal team being a bottleneck), saving money and minimising inaccuracies.”
“It also helps us avoid the risks inherent in manual drafting and move faster from one deal to the next,” she says.
As more legal work makes its way in-house, corporate counsel, like you, will come to depend on technologies such as document automation to help circumvent and address issues around productivity. If you’re looking for a simple, cost-efficient way to streamline the contractual process in your organisation, there’s no time like the present to get familiar with self-service contract creation.