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What are you buying when you invest in a document automation solution? InvestCEE’s LegalTech Marketplace partner Contract Mill argues that it is digital legal business rather than just another technology tool. When making an investment decision, understanding and defining the expected outcome of the investment is pretty important. In order to identify a working solution for an actual need, one should know exactly what problem needs to be solved before spending money unnecessarily.
InvestCEE is keen to help spot fundamental issues in current legal processes, design digital transformation projects for both corporate legal departments and law firms and find the most appropriate legaltech tools to support transition to digital legal business. For this, InvestCEE has partnered with Contract Mill, a document automation platform purpose built to digitize legal work and business processes. Pleased to share this insightful post that originally appeared on the Contract Mill blog.
Famous example about understanding what is an actual need when buying something is the one about a person going to a hardware store to get a drill and whether the person is really buying a drill or a hole in the wall or actually a rack to hang a coat. In this example, drill is the product, hole is the immediate result and coat rack on the wall is the end result why a person went to the store in the first place.
If you apply the same analogy to document automation as a product, no one is really buying document automation service per se but the results and benefits you get from using such service.
If you work in a law firm, the results you require from the service are essentially related to its effect on your business – how contract automation can benefit your business. Or more directly, how can you use document automation in your daily work with clients or even let your clients use it and how does that result in revenues. Immediate result in this context is internal efficiency but the end result for law firms using document automation is getting more and better business, both in terms of revenue and in customer satisfaction.
With Contract Mill, full-featured document automation is the foundation of the service but on top we have built effective and easy ways for you to offer digital services and products. Instead of manually serving each client request, you can for example collect data to your automated document creation back-end or enable easy self-service document creation to your clients. You can scale your hourly work and get your clients to love you more.
Scale through Digital Legal Business
If you do everything manually, your expertise and services are available only when you are available and your business is limited by the working hours of your days – your hourly manual work is not scalable. If you build your business solely around your personal time, your use of time and hourly billing rates, you miss the opportunities around you.
Using Contract Mill, you can scale your work and serve more clients. We offer document automation as enabler to scale your digital legal business with services like self-check-in documents, do-it-yourself documents or even self-service document creation. With these tools, your services can be available even at times when you are not at your desk. You remain in full control of your documents while empowering your clients to do more and let automation handle the routines.
Get your Clients Love You More
The most common obstacle standing between a lawyer and a client is billing, or client’s perception or fear of the services being too expensive. What if you could solve that problem by offering more value for your clients? By offering services for fixed price or using other alternative fee arrangements?
With Contract Mill you can. You can replace time consuming manual work with automated document generation and you can price your services differently or even give freemiums. Think about how happy you can make your client when he or she is paying for the results and not only for your time.
Using Contract Mill your clients will love you for offering more value for their money. You get deeper client relationships which results to loyalty. And that is better business for both of you.
Do you want to see how to launch your digital legal business with Contract Mill? Tell us what specific need you are trying to solve in your legal department or law firm environment and we’ll book you a customized demo with Contract Mill accordingly!