Lawyers who work on closing deals will understand the struggle of handling hundreds or even thousands of documents, files and emails. Multiple versions of a document are created during the life of a transaction and its close, and they are constantly edited to satisfy both sides of a deal until sign off.
Ensuring clients are happy, however, is not a simple task. They want things done quickly, but they can’t sacrifice accuracy, which is a challenge for their lawyers.
Dividing your time
With so much time and energy spent on drafting, reviewing and sharing the right documents during deal close, it’s no surprise that the results of a recent survey conducted by Workshare showed 78% of legal professionals were struggling to meet the productivity levels expected of them.
More often than not, instead of things running smoothly through the document workflow, meaning every document effortlessly flies through the process and finds itself signed off on the checklist, lawyers will lose time struggling to find the right versions of a file; which has been edited; which needs review; which version should be signed?
This clearly affects efficiency levels within law firms as many hours can be wasted trying to complete document turnaround – many of which simply have to be written off.
Organizing a myriad of files that need to be securely shared with numerous people during a transaction can be a torturous task…but fret no more, there is a solution that adds value!
Workshare provides a document checklist and closing binder solution that enables lawyers to organize files, quickly find and edit the most recent version and get to sign off more efficiently during deal close. The secure environment can also be used to share deal files with external parties – your client, or the other side as well. The closing checklist can be populated with signed files “as-you-go”, with closing binders or bibles then created within 48 hours of deal close, every time.
Most importantly clients get what they want more quickly, minus wasted hours - plus productivity increases for lawyers and better quality agreements are delivered.
A simple formula for a perfect deal close!
For more about Workshare Deal Checklist and Closing Binders, please call +44 (0) 20 7426 0000 or email firstname.lastname@example.org