Contract automation has come a long way: Here's how it can benefit you

This article was produced in partnership with Edilex.

Contract automation is not new, but it has come a long way. Top-of-the-line software can now eliminate manual work entry entirely, but what’s the ideal team structure to enable the successful automation of the contract drafting process?

Edilex provides cloud software with the goal of changing the way legal tasks are done, and the company’s efforts focus on simplifying, improving and securing the drafting of legal documents through the use of connected tools. In 2021, Edilex launched its innovative contract drafting software for in-house legal teams and law firms and transformed the process. Their recent whitepaper, How can contract automation redefine the roles within your team, delves into the basic concepts as well as how to rethink your ideal team structure to make the most of Edilex’s technology.

The first step in creating – and maximizing the benefits of – a successful automation process is the recognition that it can’t rely entirely on the legal team. The key is to establish a system where each level of user has a clearly defined role, and by breaking the process ou  lawyers are able to delegate much of the drafting-related tasks and focus their time where they are most needed. Edilex’s software includes several useful features that allow the legal team to delegate that work confidently, including locking of templates and clauses, real-time collaborative view and a full timeline of actions.

Automated workflows provide significant benefits such as accelerating projects and reducing the burden on the lawyers involved. Access to the audit log and the fact that the contracts are generated, negotiated, approved and store in a cloud-based platform ensures you have up-to-date and uniform legal content available to everyone. Finally, users of Edilex’s software report up to 75% end-to-end time savings when drafting contracts from automated templates as opposed to the traditional process.

The COVID-19 pandemic transformed the way people work, accelerating digital transformation and paving the way for legal technology adoption. Download this free whitepaper from Edilex to gain insight into how embracing innovative technology such as contract automation can benefit you.

Edilex powers businesses, public agencies and legal teams through technology by producing software and legal content for all stakeholders in the contracting process.