You’re getting ready to close the deal. The finish line is near. All you need to do is create signature pages and packets, get signatures from every party, track and organize those pages, then create customized closing books—all manually! Of course, this means heading into the office or copy center and then drowning in a sea of paper.
This typical transaction management method is outdated and exhausting.
It’s time to transform the deal process into a simple and efficient one that makes life easier for everyone involved—lawyers, clients, and other stakeholders. When you are managing the deal, you spend too much time on administrative tasks that are often unbillable.
It’s time to give up on email and use the secure Litera Transact platform to manage your closings from anywhere. Thanks to powerful automation, workflows throughout the entire deal process are streamlined, creating efficiencies, and reducing risks.
No Office Equipment Required
Legal professionals can work any time from anywhere if they have a computer and an internet connection. The same goes for their clients. People are working in offices, at home, or in remote locales soaking up the sun or taking in the fresh mountain air.
While most lawyers love this flexibility, they don’t like that they need printers, scanners, or copiers to manage closing processes. Who has this office equipment at home? With Litera Transact, there’s no more running to the office to print and scan documents or sifting through stacks of paper to find the latest version of a document for the client to sign. With Litera Transact, managing the deal is simple and office equipment becomes redundant.
Creating signature pages and packets is time-consuming and tedious using the typical method of transaction management. Signature pages need to be created—either from scratch or by copying and pasting signer information into each document. Then legal teams must painstakingly compile separate signature packets for each signer, distribute those packets through email or post, and wait for them to be signed and returned.
The experience is cumbersome for clients and other signatories, too. If they receive the documents through the mail, then they must either return the hard copies or scan them to send electronically. Documents received through email require printing, signing, scanning, and then returned to the sender.
What happens when the signatory is traveling or working at home and doesn’t have all the office equipment needed to return the signed documents? This isn’t an issue with Litera Transact. Our e-signature integrations allow clients to sign documents on any device, anywhere, and at any time. This creates a seamless signing experience for clients and is a more cost-efficient experience for everyone. Saving time and money is something both lawyers and clients want.
Instant Closing Books
The typical method for creating execution copies and closing books increases the risk of signature pages being lost, not signed, or appended to the wrong document. If this happens, there’s a risk that a document or even the transaction is invalidated. Plus, creating a closing book can take days, weeks, or even months to assemble. It’s no wonder lawyers are under an enormous amount of stress during this stage of the deal process.
Litera Transact can free you from the labor-intensive process of creating execution copies and closing books. Litera Transact automatically collects and tracks all signatures needed for the deal and matches signed signature pages to the correct checklist documents. The in-app PDF editing functionality lets you easily collate final executed versions, rearrange signature pages, add exhibits, and append attachments as needed. Plus, the platform generates bespoke closing books for each participant in seconds. Imagine sending clients a customized closing book the same day you closed the transaction. With Litera Transact, you can.
Get Deals Done Quick
Managing the closing process using the usual transaction management methods is difficult and inefficient, especially if you don’t have access to office equipment. But it doesn’t have to be this way. Litera Transact helps legal teams manage all transactions and simplify workflows across many different deal types. We bring greater efficiency, security, and profitability to the deal process. And clients are impressed by the easy-signing experience and real-time status updates.
Discover how we’re changing transaction management. Download our white paper, Close Any Deal, Any Time, Anywhere: Applying Innovation to 6 Stages of the Deal Process to see how Litera Transact can transform your deal process.
Topics: Transaction Management