Transaction management software plays a vital role in organizing business deals. In this article, we will analyze Litera as a perfect alternative to such software.
What is Legal Transaction Management Software?
High level of complexity
No one would argue that every legal transaction is complex in one way or another. Surely, this is obvious, but nevertheless some people are surprised that a banal sale of one company to another requires hundreds of documents, which are combined into one continuous intricate network. Lawyers put a lot of effort and knowledge into this process. In many cases, this is a matter of several weeks of hard work.
Lots of documents and little time
To be honest, these seemingly stacks of documents are almost endless, since the presence of any additional shareholder, subsidiary or tenant can generate dozens of additional documents. More than half of legal transactions ultimately have (just imagine) about a thousand documents, which, in turn, must be agreed and, as a result, signed. In some cases, difficulties arise due to the shortening of the lead time of transactions.
Litera is the best solution for LTM
In the modern world, there are many different virtual data room providers, but not all of them are ready to offer their clients effective options for Legal Transaction Management Software. But the modern virtual data room Litera is just an exception.
Litera has its own specific list of advantages that make it the undisputed leader in this service market. They are as follows:
Much less risk
One hundred percent protection of customer information, safe and legal exchange of documents on a specialized secure platform, a guarantee of a full collection of all completed agreements in one place.
Significantly improved profitability
The rapid return of the level of speed, the speed of implementation of transactions due to a significant reduction in the time spent on various small and insignificant administrative tasks. Automation guarantees a fairly fast closing process.
Satisfying all clients` needs
Clients are provided with a cool opportunity to sign various documents completely without problems and effectively receive various kinds of information regarding the transaction in real-time. In addition, clients can spend much more time in the role of a truly reliable legal advisor.
The presence of special features and modern functionality make this virtual data room a true dealer in the market of these online services.
Checklists to help keep everything on one single page
Collaborative custom checklists provide flexibility and security at the same time to manage your deals.
Compare document changes in just a few seconds
The client can easily compare absolutely any two versions of Word and PDF files using their own checklist.
Easy and instant page creation
Pages are generated automatically by comparing deal documents with pre-formatted templates. This fact makes life for clients several times easier and at the same time increases the level of productivity of their work.
Litera motivates you to focus on the essentials
It is worth noting that in almost any transaction there are countless numbers of paper documents, signatures and edits that, in one way or another, need additional review, approval and tracking.
Unfortunately, many lawyers are bogged down in an endless stream of administrative tasks, and some of their time is practically wasted. Litera, on the other hand, minimizes all these unpleasant moments and increases the level of specialists’ productivity by several dozen times. This is very valuable, especially in our time of a large number of hacker attacks.