Before adopting a document automation tool, you need to assess whether it will bring value to your team. The first step is to determine whether the documents you have in mind are suitable for being automated. For example,
- Do you create these documents on a regular basis?
- Are the documents complicated to draft?
- Would these documents be suited for self-service?
- Are there several variations to consider when drafting these documents?
- Do you keep collecting the same data points and manually enter these into your documents?
- Do you re-enter the same data points across a suite of documents?
- How easy is it to keep track of the progress of documents?
Think of the documents based on their complexity. Consider the following:
- the time it takes to manually draft the documents (including tracking the progress of documents)
- the multiple variations possible when drafting the document; and
- the length of the document.
An ideal scenario for document automation
Here are a few examples of documents that are suitable for automation:
Regularly used: Non-Disclosure Agreements and Master Service Agreements
Time-consuming: Sale and purchase agreements (sharing of information across ancillary documents), Lease agreements (inputting data collected in a Term Sheet to enter in the same into the agreement manually), and Facility Agreements due to the length and different variations possible.
Suitable for self-service: Non-Disclosure Agreements, Order forms and Offer letters.
Ultimately, it depends on how you and the wider team work. The document automation tool is meant to complement your current processes. The goal is to increase efficiencies and provide greater visibility of documents being created across your team and the business. Find out the most popular documents we see being automated by industry here.
As a rule of thumb, start small. Start with the documents that will save duplication of work. You will learn more of what is possible with the tool and better assess documents you would like automated.