Executive Summary for law firms
The Weagree Wizard vigorously accelerates contract drafting. It has many advantages:
1. Improved productivity and performance level. In most contexts, the time required to create a first draft contract can be reduced by up to 70 to 90 (!) percent. Accordingly, the productivity of fee earners improves significantly. Time saving also implies a considerable improvement of your firm's competitive performance level.
A closing of a major transaction can largely be automated and hence does not require weeks and nights of preparatory bulk work. Your client will acknowledge the improved performance where they were anyhow unable to recognise the added-value of voluminous closing documentation.
2. Minimising response time. Because drafting routine contracts and more complex contracts requires much less time, the response time of your law firm minimises. Providing a first draft contract does not take days.
3. Improved quality of contracts. With the Weagree Wizard, model contracts and contract building blocks are managed from one central location. The central availability of model contracts and individual model clauses in the Wizard contributes to a higher quality of all contracts created by your law firm. The Wizard generates each document in your firm's own house style.
4. Reducing the transaction cycle. Because (1) the productivity of fee earner improves, (2) the response time of your firm minimises, and (3) the quality of a first draft contract improves, the finalisation of a transaction requires less drafting time and less drafting cycles to repair sloppy drafting. Negotiation issues are clear from the outset. A shortened transaction cycle is the result.
5. All types of legal documents. The Weagree Wizard is able to draft all types of contracts and legal documentation. Thanks to the modular setup, the Wizard can create both routine contracts (e.g., powers of attorney, shareholder resolutions, closing-documentation, notarial standard documents en deeds, as well as deeds of pledge or mortgage) and complex and extensive contracts (e.g., SPA's, JV Agreements, loans, credit facilities, prospectuses and all kinds of IP and ICT licenses). It is even possible to create writs of summons and other semi-standard court documents.
6. Facilitating your client's know how. The Weagree Wizard is perfectly suitable for your customers as well: therefore, we are most willing to facilitate you in making your Weagree system available to your clients. Accordingly, you can build on client intimacy and offer your clients complete solutions for their business (e.g., corporate housekeeping, day-to-day business contracts and best practice contract clauses) whilst being able to learn from their business yourself.
7. Control over your own work. The Weagree Wizard contains a workflow. A workflow enables an attorney, notary or paralegal to re-use previously created first draft contracts in similar cases: simply re-open the relevant contract entry, insert the new party details and adjust the previous Q&A for the new context.
8. User-friendly: happier staff. The Weagree Wizard is simple and very easy to use. The Wizard requires no significant process redesign or change management and is easy to integrate in any existing office environment. The Q&A function is an intuitive user interface and provides explanatory notes and default answers to each question. After completing the questionnaire, the Wizard automatically generates a fully fledged, crisp contract in Word-format. The Weagree Wizard contributes to the pleasure in everyone's work.
9. Flexibility. Just one example of the Weagree Wizard's flexibility is its Q&A-function. The Wizard automatically converts the results of the Q&A into a final (draft) contract in your firm's own contract house style. Each template questionnaire can be fine-tuned by inserting optional answers to questions and by giving explanatory guidance notes; the possibility to insert default answers minimizes the Q&A processing time. Questionnaires may distinguish between senior attorneys, juniors and paralegals (i.e., allowing or limiting questions raised, depending on the authorisation level of the user).
While assembling a document, users can insert additional building blocks from the central database or even their own contract language. This database can easily be modified and expanded with your own best practice documents and contract building blocks.
10. Your IT-environment. The Wizard is a state-of-the-art, web-based (asp.NET based) software application in a powerful (Microsoft SQL Server) database environment. The Weagree Wizard contains a basic document management system. Nevertheless, as a separate feature, an interface can be built between the Wizard and external contract management systems. (The metadata from the questionnaire can be transferred automatically into the contract management system together with the generated document).
For more information see the frequently asked questions (FAQ) section (click here).