The construction industry requires specialized knowledge when it comes to provision of legal services in connection with construction projects, and that’s why you need a reliable partner in order to grow your business in an optimal way.
Construction companies typically have to close multiple deals very quickly in a short space of time, with a high level of legal and financial scrutiny on each action. Multiple parties are involved during the pre-tender and tender procedures, post-tender award, and construction project execution phases, with a large number of stakeholders to satisfy. Contracts have to be right, first time, every time.
Digital transformation has been top of the agenda for many organisations and departments for a long time and 2020 has only bumped that up.
As a response to the exponentially growing need for digital workflows and online collaboration, we developed our contract lifecycle management solution further. The pricing plans are now adapted to help your business grow with us: transform your contracting processes unit by unit or according to the functionality needed.
The first thing to mention is that creating your documents and managing workflows is now possible with the Freemium plan in Avokaado where you get:
It’s surely happened to you, particularly since the beginning of the COVID-19 pandemic and (for many people) the inconvenience of lockdowns and forced remote working: collaborative problems, leading to a loss of efficiency and of momentum for your business.
These inefficiencies are well-known to anyone who has collaborated on legally binding documents. You know how it goes: a grinding wait, while the lawyer produces a draft contract, which is then reviewed by the CEO, and sent for negotiation, only for the other party to suggest amendments. If all this is done by email, with a flurry of attachments, all carrying…
Drafting documents based on templates is not a new thing. How it usually works is a company legal department or outside lawyer creates the Word template and people start using it for similar cases over and over again.
But what is broken here?
Managing and updating the templates is a broken and uncontrollable process: not always lawyers or template creators have time to review the company templates and keep the content up-to-date. The truth is that even when they take time to update the template once, the same broken process will continue.
Let’s say an original template was created five…
Legal teams can’t work in the back office anymore ensuring compliance and managing risks only. They are expected to become business enablers who would also take responsibility for resource allocation, costs spendings and critical deadlines. With increasing volumes of legislation, demanding clients and massive cost deduction in the post-pandemic world it’s no longer possible to do legal function in the way it used to be.
For legal teams to be able to do a legal function according to the businesses’ expectations, technology and automation are not just nice-to-have it’s a must by the end of 2020.
We’ve reviewed some of…
The safest way to start with legal document automation and digitising your legal department or legal services is to learn from the industries’ players — their success stories and mistakes. That’s why we joined forces with Daan Vansimpsen, an independent Innovation Consultant, to analyse his experience of setting up innovation strategies for Belgium legal teams and Avokaado’s success and failure customer experiences. We’ve ended up in outlining a step by step and customers-proof instruction on digitising legal services, an impact-effort matrix to start off document automation and common mistakes to avoid. This is an outline. Digitisation, digitalisation or digital first?
It’s a watershed moment — you and your partners make the decision that it’s the right time to expand your company — to go from startup to scale up. Perhaps the most important things to factor in when you take this step are legal considerations. What should a legal department think about when a business is in its growth phase, and how can contract automation solutions assist? Let’s investigate.
Important considerations, in brief
A typical day for an in-house lawyer in 2020 is quite similar to a firefighter’s one: they both have to “analyze hazardous situations quickly and effectively and take an appropriate course of action” and “perform firefighting work, including preventing, combating and extinguishing fires to protect lives, property and the environment”. The only difference is that lawyers don’t deal with literal fires.
In-house lawyers have to analyse and mitigate risks proactively, react to incoming tasks quickly and keep up with pressing deadlines. The challenge is to maintain the quality of legal advice at fast-paced businesses and build a safety net using…
Legal is one of the very few professions whose job depends on working with heavy texts which usually cover complicated business issues. To make texts easier to understand and work with, it’s suggested to visualise contracts. Visualising becomes especially relevant when a contract template is not standardised and has to be frequently changed.
Contract Mindmapping gives legal professionals an overview of contract content and helps you draft documents by creating structured interdependencies between clauses.
Based on your contract mind map you can easily automate your template and avoid gaps in standardized language, missing data, or regular typos. …
Everyone who has worked with contracts or even just signed one knows how much time and steps it takes to get from draft to signing. We have been helping legal and business people to work together more efficiently and minimize these steps and time windows.
Before we go into our study about what could be achieved with digital workflows and cloud-based contract lifecycle management, let’s dive into the terminology — what we mean by ‘contract workflow’ and by ‘contract lifecycle management’.
Digital contract workflow engine helps organisations create automated scenario-based templates, delegate, collaborate on drafting, manage and track contract approvals…