Law firms work with internal teams and external organizations such as clients, government agencies, subject matter experts or external counsel for the preparation of material (including M&A, regulatory submissions and more) for legal proceedings, litigation and corporate activity. Document collaboration and preparation with multiple parties is integral to this process.
In a business activity that is time-and-cost sensitive, having the ability for CARA to help reduce costs and improve efficiency provide a large ROI.
CARA provides both the content management as well as time management / data management for legal matters, with seamless ability to provide external users with access to review documents and approve using digital signature (AdobeSign or DocuSign).
On the documentation front, the CARA configuration for Legal provides full support of creation of contract and supporting documents, including component-based, e.g. re-use of legal disclaimers or common paragraphs and text substitution (e.g. inserting the name of the contract parties into the text, pulling from the metadata).
During the review process, you can either provide direct access to external users to collaborate on individual documents, using CARA’s flexible and granular security through the portal, or send documents via email directly from the system, with the external party sending them back to a CARA “watched” email address that automatically uploads the attachments back to the CARA repository, where you can use the built-in document comparison features to check changes.
For the approval, internal and external users alike can either sign using CARA (username / password with CARA then generating a signature page) or via the CARA integrations with DocuSign and AdobeSign.
Finally, all time management and other pure data around the legal documentation process can be tracked, managed and reported on in CARA.