With the increase of technology and its capabilities, the legal industry is gradually catching up. Law firms, lawyers, and in-house legal counsels are starting to adopt automated systems to reduce redundancy and accomplish complex tasks, thus boosting efficiency and saving billable hours. In addition, artificial intelligence enhances the competition in the legal market by providing a combination of intelligence and speed. To stay in the competition, companies are moving towards Legal Automation tools. Indika AI is one such firm that provides extraordinary services for legal automation.
What is Legal Automation?
The use of tools & technologies to permit legal teams to automate, streamline, and measure legal work. To create self-serve and self-help tools for the clients, teams are empowered by legal automation, allowing lawyers to focus on the high-value tasks where they can uniquely stand out and add value as experts, such as providing strategic advice and engaging in negotiation.
Why is Legal Automation Important?
Corporate legal departments face constant challenges to do more with less. If human beings are expensive, with limited resources, performing more translates to leveraging processes and technology. However, when it comes to technology, there is \no support provided to legal firms from a budgetary or priority point of view, and as a consequence, legal teams lose the technical path and continue to work in manual ways.
It leads to a lack of inability and visibility to report on legal data and activity. As a result, legal counsels are stuck on doing tiresome work that is repetitive and of low value. Although firms can’t turn their face from reality, modern changes in the companies have driven the attention to translate into action.
Driving factors include:
- Yearly reduction of headcount or budget cuts
- Corporate strategy for cost reduction and simplification
- Businesses and regulatory environments become more typical with the increment in the document file.
- Legal departments want to move from simply being a support function to becoming more of a strategic adviser to the business.
Benefits of Legal Automation
For legal transformation strategy, Legal automation acts as a critical pillar, Why? Many technologies can help lawyers manage their work smoothly, but legal automation provides the unique shifting to the type of work of legal departments by enabling them to do more with less surprisingly. In addition, it helps in creating visible and direct improvements to the delivery of legal services to their business clients.
benefits of legal automation include:
- Standardization – create consistency of service delivery and operational excellence.
- Giving time back to legal teams – by creating automation, it refocused on high-impact tasks.
- Faster turnaround for business clients –includes improving access to services through self-service, removing bottlenecks, and more rapid progress on deals. It also shortens the queue for high-importance legal requests.
- Higher compliance – For proper practices and processes, it improves accuracy and adoption.
- Data capture – Data not easily captured in existing manual working methods, like email and phone calls, providing access and reports on data.
Smart, automated contracting & contract analytics
Our professionals help legal authorities in drafting & reviewing contracts using AI that automates the process and saves time.
Key point extraction
Reading hundreds of pages of the legal document point to point could be time-consuming and tedious. However, an AI-based automated system can extract & summarise important information for you by reviewing your legal document.
Review automation and Assisted Legal Discovery
Legal analysts put their heart and soul into legal research. However, finding a relevant judicial pronouncement, legal provisions, statutory orders, Etc., takes much time. Indika provides assisted legal discovery tools to make the process simpler for you.
Due Diligence is a crucial process performed by law firms. However, due to its comprehensiveness and need for caution, human error can always creep in. Automated systems can make the process more efficient and accurate by accelerating the procedure, eliminating manual errors, and allowing lawyers to provide a better overall experience for their clients.
A software capable of performing automated tasks that lawyers usually carry out. It provides legal help and access to justice to the masses.
AI-based machine learning models can predict the outcomes of pending cases, using as inputs the peculiar fact patterns and corpus of relevant precedents.
Indika as a Legal Automation platform
The Indika provides a high-class legal automation platform that accredits teams to build legal documents & workflow automation tools. Indika is trusted by the best brands globally across legal groups of all sizes. We provide the best in breed automation technology and the expertise to ensure success.
Indika has one of the most powerful legal automation platforms available, and our professional teams can provide accurate datasets and legal automation with an easy-to-use service.