The term “Legal Tech,” or “Legal Technology” refers to the use of technology in the legal sector. From the integration of digital solutions into legal processes to providing legal services to clients with the support of technologies and software, Legal Tech aids in disrupting the traditional workflows of legal companies by introducing digital solutions.
Legal companies implement technologies to their advantage. From small businesses and high-growth startups to established corporations, the use of technology enables companies to work smarter and achieve positive results. Due to the benefits of digital solutions that result in cost-effective processes and an increase in productivity, legal companies embrace technologies to improve the way they work and provide competitive services.
The services that legal companies provide are time-sensitive, should be secure, and must prioritize the needs and welfare of clients. Today, legal companies that utilize electronic signature solutions do not only fast-track their processes but also provide security and uphold the privacy of their clients.
If you are an independent law professional or an individual who works at a law firm, you can upgrade the way you work and add value to your company and clients by adopting electronic signature solutions.
Clients value their privacy. When they hire legal companies to handle their legal affairs, they expect lawyers to protect them and represent their interests. They assume that their personal information and any details associated with them are private. Since security is pivotal for law professional-client relationships, all transactions should be secure and without interference from outsiders.
Legal documents are sensitive; only parties involved should have access to them. And when they are in the form of physical documents, they become even more prone to get lost or stolen. Companies that offer electronic signature applications ensure that they adhere to the highest security standards. Aside from complying with enacted laws on e-signatures, such as the Electronic Signatures in Global and National Commerce (ESIGN) Act of 2000 and the Uniform Electronic Transactions Act (UETA) of 1999, to make transactions using electronic signatures legally binding, companies designed electronic signature applications in a way that prioritizes the security of their users.
While physical documents are at a greater risk of unauthorized access compared to electronic documents, electronic signature applications ensure that only authorized people have access to the legal documents of its users. Moreover, electronic documents opened, edited, and signed using an electronic signature platform are stored in the cloud. When they are accessed, changed, or updated, the owner will receive a notification. All activities are recorded in a digital log for tracking. Every action is traceable and easy to verify to ensure that there is no tampering done to them.
The majority of electronic signature applications employ Public Key Infrastructure (PKI), a technology that uses encryption and identity verification, to enhance access restrictions.
Paper-based processes are expensive. From the use of papers and pens to courier services, the costs of traditional paper-based workflows add up. Moreover, manual paperwork often encounters errors that lead to the unnecessary disposal of documents, as errors in legal documents may lead to problems in the future. By shifting towards the use of electronic documents, paperless document management, and adopting electronic signature solutions, legal firms can lower their operating costs.
By going paperless, legal companies can forward documents for signing and receive signed documents without the overhead incurred by manual processes. Also, discarding documents that contain errors will no longer occur as electronic signature applications have online document editors that enable users to edit documents.
Maintaining physical documents also entails costs. By going paperless, legal companies no longer have to buy bulky cabinets where they can keep all their physical documents.
Improved client experience
Electronic signature solutions provide clients a convenient experience. Legal transactions are naturally serious; therefore, clients appreciate hassle-free and fast transactions. As electronic signature solutions eliminate the use of papers, clients can complete transactions with less effort and the assurance that their privacy is protected. They become confident that their information is safe.
Doing paperwork manually takes time. Using only their device, electronic signature applications enable clients to fill out and sign documents. The time-consuming processes of preparing physical documents require a lot of effort. Electronic signature solutions fast-track transactions and streamline signature workflows, equipping clients with the right tools to accomplish all paperwork without breaking a sweat.
Electronic signature solutions reduce the documentation processes to a few minutes or hours. By utilizing an electronic signature application, a legal company can save their most valuable reason — time, as adopting e-signature software speeds up the documentation turnaround.
Paper-based processes require professionals to print, scan, and send documents to clients. Once the recipient receives the documents, he will sign and send it back to the sender. The process of transporting documents from a person to another could take several days. Using an electronic signature application, one can process documents within a few minutes, if not seconds, with just a few clicks.
Electronic signature applications are web-based software. In general, they do not require installation. When your device is connected to the internet, you can fill out and sign documents no matter your location and at any time. Electronic signature solutions equip users with the right digital tools and empower them to get their work done faster and with less effort, enabling them to accomplish important tasks using only their device.
Electronic signature solutions do not force legal companies to change their processes completely. On the other hand, utilizing an e-signature platform proves that integrating reliable digital solutions into workflows can push a business towards quality work and output. Adopting e-signature solutions upgrades the way a professional manages legal transactions, resulting in better productivity and more satisfied clients.
If you are looking for an electronic signature application to use, the first step that you need to do is identify your requirements. By doing so, you will be able to find the most suitable e-signature solutions provider that would meet your needs.