Apr 15, 2016
Document automation is nothing new. However, as Sandra Rubin of Lexpert Magazine writes, contract automation is on the rise in legal practices and may change the game for many corporate lawyers. Osler Chief Knowledge Officer, Mara Nickerson, was quoted as saying, “This is going to change how we practise, who does the work, and where the work is done.”
Many law firms, including Osler, are working toward document automation. Automation software has the ability to create client reporting letters, term sheets and even contracts. This is saving lawyers and paralegals days of work and lowering legal costs at a rapid rate. One lawyer estimated that costs could be cut by more than 30 percent with the integration of automation systems.
While some believe in-house automation systems may eliminate the need for law firms, Nickerson disagrees. She also said that while automation has the possibility of limiting some law offices’ scope of work, it could cause law firms to become a more cost-effective choice.
“I think if firms build out their capability and service a wide variety of people, they may be able to do it more efficiently and provide it at a more efficient price than in-house can do,” said Mara.
To learn more about document automation and its effects on law offices, read Sandra Rubin's full article “Contract automation poised to change legal practice” online at Lexpert Magazine, March 28, 2016.