Legal DOCUMENT Automation
Bulk Contract Generation
Create hundreds of contracts in minutes, error-free, with legal contract automation
The Challenges
Business relationships continue with the renewal of contracts, which for many organizations involve a manual and repetitive process every 6-12 months with hundreds or thousands of suppliers. The challenge is that each contract is bespoke to each vendor, with updates to the agreement on factors such as pricing, clauses, and contract deliverables. Due to the volume and manual nature, the contract generation process is a massive time drain for the business. As the existing contract comes to an end, under-resourced teams often find themselves scrambling to meet deadlines and end up rushing the task, increasing the risk of human error. Further, any contract templates used can be hard to maintain later down the track as contract content and document structure changes.
Benefits
Faster turn-around time for the contracts
From automated bulk contract generation to email reminders to sign, the entire process is streamlined and designed to reduce the time spent on this repetitive task.
Eliminate contract errors
By using a legal contract automation software to generate contracts, in parallel with the standardization of approval workflows, this ensures contracts are generated error-free each time.
Improve maintainability
Through no-code app building, the solution can be easily and independently modified for any contract content, logic, or format changes. The platform tracks all responses that have been entered, providing an audit trail for record keeping.
Improve client’s experience
Moving from manual paper-based contracts to e-signature makes the contract generation process convenient and effortless for suppliers.
challenges
HOW DOES MLS ADDRESS IT?
For both business users and the legal team, the manual collection of client data for the contract is time-consuming and repetitive. Further, each contract is bespoke, consuming too much time.
A high volume of contracts needs to be generated in a short amount of time.
Contracts that require approvals take time to manually execute and approval rules are often complex and not decentralized.
Adjustments to the contract are difficult to make and updated documents must be manually sent to document repositories.
High risk of error and non-compliance from manually entering contract details.
Clients experience a tedious and lengthy contract signing process by having to download, sign and re-send their contract.
MLS’s form-based user interface is seamless and easy-to-use, allowing for digital employee information capture.
MLS also eliminates the need for manual contract generation by populating customer data such as client business unit, additional fees, salesforce account code, and contract start and end date into the contract.
These business-critical documents are automatically customized and can feature:
Conditional clauses – only the relevant clauses are inserted into the document and numbered automatically.
Dynamic tables to structure information in rows and columns that are adjusted automatically to the content.
Contract generation in MLS is made easy by importing bulk contract data via rest API integrations, or CSV upload.
Seamlessly set up approval workflows in MLS that are determined by business logic. For example, if the contract size is greater than $1,000,000, the legal team is notified via email to review and approve the contract.
MLS’s no-code drag and drop studio empowers anyone to quickly build and deploy their solution in a matter of days, and independently make updates as required.
These changes include adding new commercial details (e.g. additional fees), introducing approval checkpoints, and changing business logic.
MLS’s legal contract automation engine automates the generation of documents by populating an underlying master template which is compliant by design.
Leverage e-signature in MLS to effortlessly sign contracts and streamline the process of bulk contract generation, reducing friction and time to execution.