A typical business scenario: A business department needs to create a new contract so they copy a version they used before, change a few details and send it off to the Legal Department for review. Not knowing which template was used, whether it was the current version or which business idea is being closely tracked, you either need to check the draft contract in detail, or have it checked by external specialists, costing you time and money. More often than not, you return the contract with the comment that the template used was outdated or needed a lot of changes to remain compliant.
The solution: With Legal SmartDocuments, you can turn this process around completely, increasing efficiency and compliance. The department selects a template for the type of contract they need to create. The template includes your approved standard language and clauses, and the department simply "fills in the blanks" using a simple questionnaire. Any deviations can be discussed and, if necessary, you can adjust the Word-based contract template or the underlying business logic for the future. What's more, updates to templates and clauses are automatically shared with users, so new laws, policies or regulations can be incorporated immediately, reducing your risk.