the transaction process is inefficient and expensive
Every year, hundreds of thousands of hours are spent by lawyers organizing and administering deals for their clients. These countless hours translate into hundreds of millions of dollars in legal fees. However, clients no longer wish to pay such high fees and are demanding that law firms give them a quote before agreeing to retain the law firm to conduct their transaction. Clients also want law firms to be as efficient as possible and to utilize modern technologies where possible.
This demand for increased efficiency and reduced fees creates increasing pressure for law firms to get the deal closing process under control and to reduce the time and resources spent on transactions.
dealcloser gives law firms the ability to effectively and efficiently manage deals by automating and organizing the closing process. In an era where the legal industry is moving towards value based billing, and both firms and clients are looking for ways to eliminate non-value added tasks, dealcloser streamlines one of the largest wastes of time and money in the transaction process.
the Transaction process is archaic
Whether handshake agreements to buy a house or acquisitions of billion dollar companies, deals are the building block of the modern economy. Yet, while we use our smartphones and laptops to manage virtually every aspect of our economic and commercial lives, purchasers and vendors of modern businesses remain inundated with paper.
Thousands of documents are drafted, exchanged and printed by law firms around the world on single deals and each document requires original signatures before it is scanned, emailed and printed once again. With this cycle of redundancy comes a mountain of detriments: mistakes are made, time is wasted, costs increase, clients are inconvenienced, legal fees grow, and the environment is degraded.
dealcloser solves this problem by providing a suite of tools to automate, organize, and streamline the deal closing process. dealcloser makes the transactions process better.