Contract Automation Software: The Ultimate Guide for 2023

Contract automation made easy

Table of content:

• What is contract automation?
• Why do you need contract automation?
• Who uses document automation?
• What contracts could you automate?
• How to automate contract generation?
• What a typical contract automation process looks like
• Integrations
• Benefits of contract workflows
• FAQ

Did you know that lawyers and other legal professionals spend about 11.5 hours a week resolving document creation and management issues? About half of that time is wasted on bottlenecks and other inefficiencies. Imagine using that time for productive work – tasks that would bring in new clients, boost your bottom line, and help your staff to be more efficient.

What is contract automation?

In simplest terms, contract automation utilizes specialized software to help you create workflows that streamline document creation. The software reduces time and effort required to execute repetitive and mundane tasks. In the context of contract generation, the software aids in generating automated forms by utilizing various data sources including external CRM systems and pre-defined contract templates.

Ultimately, with contract automation software drafting a routine contract is simple. No coding and minimal effort are required. Anyone can create, edit, approve and sign contracts with a few clicks and in a fraction of the time previously required.

Easily automate documents and boost your business:

• Eliminate manual, repetitive contract generation tasks.
• Minimize time-consuming operations that are slowing you down and wasting your time and resources.

DocsCube document automation software automates critical, repetitive business decisions, and empowers staff with the necessary tools to increase efficiency while creating fully compliant and legal documents.

Why you need contract automation

Don’t let low-value work slow you down!

Common pain points eliminated with contract automation:

• Manual data entry: Copy & paste from various sources
• Errors in contact data
• Sending old versions of a contract: Tracking and finding the latest contract template version is now easy
• Poor customer experience: Delayed response times
• Lack of standardization: Wasted time on routine tasks and inconsistency
• Lack of visibility: Status tracking is difficult, no single source of truth
• Missed renewal and renegotiation opportunities: Inability to track post-signature obligations
• Inability to track and monitor fulfillment

DocsCube is your “one-stop” contract automation solution. Here you can build and manage automated contract templates for simple and complex contracts alike. Keep your team focused on high-value projects by eliminating inefficiencies, bottlenecks, and human error created by manual processing.

Streamlines contract workflows

Document automation streamlines processes in contract administration and helps you to properly allocate workload, manhours, and additional recourses required for a project. Foster a productive work environment by reducing turnaround times bring your focus back to your client.

Create,, edit, send and e-sign your contracts in minutes. Slash your processing time to a fraction of what was previously required. Produce accurate, perfectly formatted, and legally compliant documents in no time. Store, and perfectly organize all your files in a centralized and secure repository to access anywhere, at any time.

The contract automation system allows you to set alerts and trigger custom workflows when each party sign contract, keeping you well-informed at each stage of the process.

Enhance team collaboration

Make collaboration with your team a breeze. Through integrations, the software allows you to communicate with your team more efficiently. You can notify responsible team members at right time via slack, email or simple notification.

Who uses document automation?

Document automation is crucial for any industry whose daily tasks include drafting simple or complex, data driven, but routine contracts that require some degree of customization.

Regardless of the industry, document automation will drastically reduce the burdensome administrative workload and refocus efforts where they are needed most.

Remember: contract automation software does not eliminate the services of company lawyers, sales people or support staff. Instead, it impowers them to complete their work to a higher quality, speed and accuracy. Both large and small organizations will reap the benefits.

While contract automation software has most often been used for legal services; automation is flexible, and has transcended industries to include:

• Sales
• IT / Operations
• Insurance
• HR
• Procurement
• Marketing
• Real estate
• Financial institutions
• Healthcare

What contracts could you automate?

Liberate countless work hours, move deals faster, negotiate and track progress status more efficiently while eliminating bottlenecks and human error.

DocsCube document automation can be used in the creation of a myriad of documents including:

• Employment agreements
• Quotes and Invoices
• NDAs (Non-Disclosure Agreements)
• Sales Proposals
• License and Franchise Agreements
• Financial Approvals
• Surveys
• Due Diligence forms
• New Account Forms

DocsCube Top Tip: Advantages to document automation are countless: save time, boost accuracy and transform the customer experience by displaying your meticulous pursuit of professionalism and business acumen.

How to automate contract generation?

Automate your contracts in two simple steps: create dynamic templates and automate business processes with custom-built workflows. OR utilize the pre-existing templates in the DocsCube library.

It is easy to create custom workflows with the DocsCube visual builder.

Prepare, manage, and act on documents without delay! Read more about contract workflow automation.

• Use contract templates. Enable the business with self-serve contract templates that anyone can use.
• Create contract workflows: Define your business process and turn it into visual workflow. Automate and standardize daily routine tasks and reduce bottlenecks with pre-defined business processes
• Automate emails and keep track of all your correspondence at one place.
• Easily track the status change of each contract as it goes through the approval process.
• Never lose sight of the contract cycle.

What a typical contract automation process looks like

The how-to guide below illustrates the procedure and eliminates of a typical document automation process.

• Collect necessary data
  • Pull data from an external system (CRM) 
  • Collect any vital additional data from external parties with custom-built and branded forms.
• Automatically generate pre-populated contracts
  • Automatically pre-fill contracts with collected data and customize contract clauses based on request type.
• Approval
  • When the contract is generated, it can be automatically sent for approval. The responsible party will be notified immediately via email slack or notification.
  • An alert can be placed to notify you when the recipient has accessed the document.
  • Encourage conversations, collaboration, and data sharing with colleagues and clients. DocsCube is integration compatible – meaning that you can still use any number of communication marketing platforms.
• Send documents for e-signing
  • Send the contract for signing directly from the DocsCube platform. Otherwise, set a trigger for the send-signing action. The action will either remind you or send the document automatically.
• Update CRM system
  • Update your CRM system with the latest information.
• Ensure peace of mind and efficiency for your legal team
  • DocsCube security features ensure privacy and compliance. All documents are filed and stored in a cloud-based system allowing you access and privacy simultaneously.

DocsCube Top Tip: Different clauses can be included in a contract depending on request type, dollar amount, or any other information required to be included. This feature provides great flexibility to the contract generation process.

Integrations

DocsCube is compatible with several online platforms for easy collaboration, access and efficiency. Access your email, work on documents, share and work with your team anywhere, any time.

• Google Drive – a shared drive means working on documents collaboratively. All documents can also be auto-downloaded and stored securely.
• Google Sheets – Create and pre-fill documents with data stored in spreadsheets.
• Gmail – communication is crucial. Send, receive documents, e-sign, and relay information easily, without leaving the DocsCube platform.
• Slack – Communicate seamlessly with your team in real-time. Encourage teamwork, transparency, accuracy, and accountability throughout your project.

Benefits of contract workflows

Contract automation is transforming legal operations and helping businesses save hundreds of hours on manual data entry, manual approvals, e-signatures, and unstandardized procedures.

Empower your team with simple solutions to automate contract generation at scale and save time and recourses.

• Reduce time-consuming manual data entry activities
  • Quick and efficient contract creation (automatically populate contracts in seconds with pre-designed templates or create custom contracts using the DocsCube document editor)
  • Save time creating and managing contracts
• Prevention of human error
  • Eliminate manual data entry and reduce errors drastically. Streamline workflow processes,
• Reduce operational costs
  • Save money and boost your bottom line.
• Standardize and automate daily repetitive tasks.
  • Establish easy-to-follow processes that reverberate throughout the organization and empower staff with the tools they need to succeed.
• Establish efficient processes for maximum accuracy and reliability.
• Save time spent on contract generation, reviews, and signing contracts faster
• Enhanced compliance
  • Transparency through teamwork, enhanced security features, and fully legal e-signatures (integrate with DocuSign) ensure peace of mind, accuracy, and legally binding documents.
• Automate contract approvals
  • Reduced cycle time through configurable contract workflows. Send, receive and e-sign contracts in minutes.
• Enhance customer experience
  • Enhances customer experience & contract value. Impress your clients with impeccable, accurate, and efficient customer service. Embed reliability into daily operations and see your business thrive.
• Increased visibility
  • Easy status tracking. Accurate and updated documents create a single source of truth.
• Improved collaboration
  • Instant notifications, and standardized communication through DocsCube integrations. DocsCube records dates and times at each step of the document creation process for increased transparency and collaboration. Workflow notifications pop up each time a section is completed, stalled, or requires attention.
• Brand Integrity
  • Standardized branding, better customer experience

FAQ

What type of contacts can be automated?

• Routine contracts
• Employment agreements
• Quotes and Invoices
• NDAs(Non-Disclosure Agreements)
• Sales Proposals
• License and Franchise Agreements
• Financial Approvals
• Due Diligence forms
• New Account Forms
• Surveys

What problems can be solved with document automation?

⦁ Manual data entry (copy-paste data into contracts)
⦁ Manual data collecting (unstandardized requests and missing data)
⦁ Unstandardized review and approvals
⦁ Tracking contract status
⦁ Post-signing contract management (obligation management)
⦁ Renewals & reminders (expiration tracking)

How does contract automation work?

• Step 1: Create a contract template with dynamic fields
• Step 2: Create workflow and automate repetitive daily actions:
  • Contact generation & contract pre-fill
  • Approvals
  • Emails
  • Reminders
  • Notifications
  • Tasks
  • and more.
• Step 3: Initiate contact request

Can I pre-populate contracts with data from my CRM?

• Yes, + you can collect more data with a customs form if needed.

How to get started? 

Are you ready to ignite your efficiency, impress your clients and boost your bottom line? Start by creating visually stunning, impeccable, and flawlessly accurate contracts today.

Document creation should not be a tedious and time-consuming process. DocsCube empowers you to take the leap forward into automation and next-level client satisfaction.