4 Critical Reasons to use Technology for Legal Transaction Management
If you are part of a legal firm, you probably already use technology for a number of reasons:
Artificial Intelligence (AI) to rapidly identify case law precedents
Judicial analytics to make better predictions on rulings
Advanced document technology to assemble and check contracts and other crucial legal documents
Technology-assisted review to deal with and process piles of eDiscovery
But are you using technology for Transaction Management?
Or are you still stuck on slow, expensive, old-fashioned manual processes like:
Email for sharing and negotiating documents
Conference calls and meetings for discussing project updates
Physical signatures to finalize executed deal documents
When you rely on such laborious, paper-driven and error-prone processes, you grapple with issues like:
Difficulties locating latest versions of documents and accurately maintaining their history
Lost time in rechecks, manual updates and unnecessary discussions
Increased costs in creating, maintaining and sharing mountains of paper
Due to such challenges, it can take firms months to deliver the closing binder or bible to their clients and other key stakeholders.
Here are 4 ways technology can revolutionize transaction management for your legal firm!
#1: Simplify transactions and reduce processing times
In simple terms, technology can make your transactions faster and simpler. Whether it’s centralized process checklists, collaborative online workspaces or digital signatures, you can accelerate and streamline your closing process in tangible, meaningful ways with technology.
When lawyers no longer have to contend with time-consuming tasks like monitoring version changes and getting signatures on documents, they can use their time more strategically on value-added activities that make a real difference to their firms’ bottom-line.
#2: Reduce write-offs and improve the customer experience
With the use of technology, lawyers can produce and deliver their clients’ closing books in minutes instead of days or weeks. They can also automate the steps required to create, distribute and track signature pages, which can lead to an overall better experience for the lawyer but more importantly, for the client.
#3: Increase security and decrease risk
The use of a secure, encrypted, multi-location online platform along with real-time digital signatures makes it easy to maintain and negotiate transaction documents. Now you no longer have to communicate project updates through email (which can get lost) or via conference calls and meetings (which can be tedious and time-consuming).
Moreover, technology also eliminates the risk of mailed and emailed documents falling into the wrong hands and the possibility for changes going undetected and causing confusion or errors in the final document.
#4: Improve collaboration and harness the ‘wisdom of the crowd’
When it comes to multi-person teams; collaboration, accountability and tracking are critical. Technology can help firms assign tasks, check progress and set reminders for all stakeholders to keep everything running smoothly and on track. Technology-enabled advantages like real-time status updates, clear version control and transparent document revision history allow all stakeholders to collaborate better for more advantageous outcomes all-round.
Prime Infotech Solution is a leading reseller of IT solutions that are trusted by law firms all over APAC. From Workshare and Nuance Power PDF to iManage and Bitdefender – we have everything you might need to keep your firm running smoothly and your clients happy. To know more about our product list, volume discounts and free trials, contact us today!
Phone: 022-2308-0666, +91-9833650378
The 5 Best Business-Themed Movies to Inspire Entrepreneurs and Managers
Today’s article is different from our usual fare.
Instead of giving useful tips or strategies related to running or managing a business, we present our list of 5 of the best business-themed English movies that we hope will inspire you to greatness.
Sometimes art imitates life and at other times, life imitates art.
The films on our list explore the myriad challenges every businessperson faces. They also talk about the approaches they can (and do) take as they pursue business success and professional triumph. Watch these movies to glean some powerful, thought-provoking insights from these amazing films.
So without further ado – and in no particular order – here is our list of the 5 best business-themed movies to inspire entrepreneurs and managers!
1: The Imitation Game
Starring: Benedict Cumberbatch, Keira Knightley
A team of talented individuals working well together is a great pathway to organizational success. However, sometimes teams achieve success despite having members who don’t exactly win prizes for their interpersonal skills. In fact, the unique – and on the face of it, not quite desirable – personality elements of such individuals can even turn out to be an organization's most significant asset.
Alan Turing was one such (real) person. In this film, Turing is brilliantly portrayed by Benedict Cumberbatch, a British actor who rose to fame for his modern-day portrayal of Sherlock Holmes. During WWII, Turing was recruited by the British MI6 to ***** an unbreakable **** code. Turing breaks the code and becomes a national hero, despite his autism and antisocial personality. However when he is revealed to be ***, he is thrown into prison (************* was a crime in Britain until 1967).
The film’s most enduring take-away is that brilliance can come in any form. However, it is often misunderstood by small-minded people who you need to be aware of but also ignore as you pursue your dreams for success.
2: Catch me if you can
Starring: Leonardo DiCaprio, Tom Hanks
Leonardo DiCaprio plays Frank Abagnale Jr, a successful con artist with the ability to charm just about anyone with his skill mastery. The title is a reference to the cat-and-mouse game played between Abagnale and FBI agent Carl Hanratty (both real people) who eventually catches him and gets him sentenced to imprisonment.
The film, backed by superb performances by its lead cast, exemplifies the entrepreneurial journey, albeit not in a way that would be considered ethical. Still, you have to admire Abagnale’s ability to think on his feet as well his affinity for that quintessential Indian quality – jugaad! It touches upon important themes like problem-solving, perseverance and business vision, and how it is possible to find creative solutions from even the most dire situations.
3: Wall Street
Starring: Michael Douglas, Charlie Sheen
This 1987 movie stars Michael Douglas who plays the iconic character of Gordon Gekko, along with Charlie Sheen who plays Bud Fox. The former is an unscrupulous corporate raider who navigates the rollercoaster of Wall Street while adopting the ‘greed is good’ mantra as he pursues power and success.
The film offers an insider look into complex themes like corporate finance, portfolio management, investment law and capital markets. If there’s one thing you will take away from Wall Street, it is the lesson that it’s ridiculously easy to get carried away with the glamorous lifestyle that accompanies wealth and turn into someone not quite admirable or worthy of respect – even if that respect is your own.
4: The Godfather trilogy
Starring: Marlon Brando, Al Pacino
The 3 Godfather movies highlight why relationships are so important to running a successful business. Based on the best-selling novels by Mario Puzo, the movies are packed with thought-provoking scenes that will inspire you to think about building a network, helping people and understanding your competition. Its lessons will prepare you to handle your next business challenge with grace and élan.
5: The Devil wears Prada
Starring: Anne Hathaway, Meryl Streep
In this film, the lessons learned by young Andy (Anne Hathaway) give her excellent preparation for the real world. The film will motivate you to pursue your dreams and to never give up on what you believe in (in Andy’s case it is a journalistic career).
It will also show you how to handle and adapt to uncomfortable situations, even those where you feel completely out of your depth. The movie is a great lesson that you should never underestimate the challenges of any kind of work and make every effort to overcome adversity if you want to thrive.
If you’ve ever had a ‘bad’ boss, this movie will show you that it is possible to handle them without losing your sanity or your job – as long you keep an eye on the big picture.
Do you have a favorite movie that you think needs to be on this list? Comment below!
Cynergi provides marketing and media services to help businesses gain knowledge and skills for growth and progress. Our services include Content Marketing, Social Media Marketing, Video Marketing and Corporate Gifting. To know more, contact us today:
Phone: +91 9833837428
Let Workshare Secure be your EMAIL GENIE
Have you ever sent the wrong email to the right person?
Or the right email to the wrong person?
Of course you have. We all have. Email-related mistakes are part and parcel of the digital professional life.
Some of these mistakes can be laughed off as funny ‘bloopers’.
But some of these bloopers can turn into massive catastrophes.
A lost deal, an angry customer, a collapsing company – all these can result from a careless email mistake.
Even knowing this, we don’t spend as much time as we should double-checking that communiqué before sending it out into cyberspace. Frantically trying to recall or delete that email after it has already left your inbox is just an exercise in frustration, despair and yes, even fear.
Want to turn back the clock?
Now you can – with Workshare Secure!
How can Workshare Secure be your EMAIL GENIE?
When you send an email, Workshare Secure uses patented DeltaView comparison technology to check an email’s components, right from the header to its attachments.
This smart, supportive system tracks and scans all outbound emails and builds a picture of what constitutes usual email activity in your company. The data is then collected and analyzed to provide an overview of the information flowing out of your company. Your company’s administrator will be alerted to any suspicious activity which they can then either authorize or contain before it becomes a catastrophe. Workshare Secure ensures complete data protection and email integrity so you no longer have to worry about sending emails to email@example.com!
Prime Infotech Solution is a leading reseller of all Workshare solutions trusted by firms all over APAC. To know more about these products, volume discounts and free trials, contact us today!
Phone: 022-2308-0666, +91-9833650378