COVID-19 has accelerated the user adoption of document automation as organisations, large and small, grapple with the WFH 'new normal'. A recent ABA article highlights that the pandemic has provided fresh impetus for this trend. Corporates, courts and counsels are leveraging efficient online services to put in-house legal teams in control of contract management.
How, Why and the ROI
In the short-term, social distancing measures have necessitated an inflection point in the uptake of technology within the legal market. The article notes that internal friction within firms resisting change has been suspended with lawyers making use of "audio calls and videoconferences" to facilitate legal practice.
However, platform adoption has not been uniform. Industry constraints and barriers to entry have capped the potential of low-cost applications. To fully capture productivity benefits, automation tools should be used more aggressively and in-built within companies' business models to swiftly adapt to new ways of working and add cost-effective value to clients, vital now more than ever.
Barriers to entry inhibiting long-term investments into legal technology from within include culture and capitalisation structures. Although, the stickiness of the increasing demand trend is unknown; COVID-19 has reset the dial. The future of work is now.
As we emerge into a post-lockdown world, the eclectic use cases of document automation present a big opportunity for legal departments to perform their duties with agility, at scale and with the least amount of resource (or expensive outside counsel) to meet the ever-increasing demands they face. Ultimately, reducing the risk of human error and freeing up human capital to work on more complex, business-critical matters.
Find out more about how CC Dr@ft can assist you with document automation of legal contracts.
the legal industry’s adoption of technology so far appears primarily focused on enabling the practice of law as it existed before Covid-19