Technical documentation on average, takes 1 hour/page for writing, 30 minutes/page for reviewing, 2.5 hours for editing/page and a further 25 minutes/page for proofreading. You add that all together, that’s 4 hours and 25 minutes for a thorough review of a single page. All documentation which contains technical knowledge such as contracts and other business documents follow the same organisational approach: using headers to sign-post the details of the content. As noted, this takes up lots of time per page. Document Automation as the name implies, takes data and text various sources and incorporates them into pre-defined document templates. This brings 3 major benefits for business. So down below, we shall outline what these benefits are and why they increase productivity and efficiency in profitable projects.
1) Faster Document Generation
This is the most obvious benefit, with lawyers stating 82% of time savings stem from document automation. By creating templates through automation, you can input the text and data you want the documents to contain into standardized templates. Additionally, it reduces the time reviewing a draft and ensures all members in a project can access the template before it’s produced, rather than waiting for a complete written draft. This keeps communication in real time, ensuring errors and suggestions are addressed clearly at the beginning for producing a document. Thus, collaboration between departments becomes streamlined and more efficient.
2) Compliance and a Unified Understanding
With better collaboration stemming from faster document generation, this ensures that all documents are compliant with laws and regulations. This is because it reduces human error in the drafting process where the writing of a drafter may be difficult to comprehend as we’ve mentioned in our previous article on contract complexity. In this, document automation removes the guesswork of ensuring documents are accurate and intuitive to read as the automation system does this for you. This keeps everyone on the same page not only with legal rulings, but also ensuring the correct definitions do not get lost to differences in interpretation.
3) Retention of Knowledge and Expertise
With documents that get produced quickly and with assurance of compliance, this ensures all members to a project both old and incoming are updated on day one. By keeping to a consistent template rather than documents which have been drafted by different people, it keeps the documentation uniform. This allows members to build up familiarity with the style and format which ensures they pick up information quicker. It is a well-known fact that humans are creatures of habit, so let’s play to those strengths. This also applies even if a skilled member leaves the project momentarily or completely as the templates provide a continuous bank of expertise to ensure assignments are completed with minimal delay. This is a huge saver as 40% of productivity gets lost to task-switching.
Document automation saves time that is wasted creating, reviewing, redrafting, and proof-reading documents. This reduction in production times also gives more time to collaboration which ensures the needs of clients are flagged up and implemented before the first template. Another problem document automation resolves are incomprehensible documents which can occur due to writing styles. This is because document automation keeps templates standardized, allowing project members to familiarize themselves with the format to the point the reviewing and understanding the data becomes intuitive. This allows everyone in a project to fully understand the assignment each step of the way, regardless of whether they are an attorney or a businessperson.