Many of the major issues with traditional contracting are addressed by contract automation solutions. Contract automation software allows your organization to establish contracts in minutes with minimum error and execute them faster than ever before.Contract automation is the process of automating the steps involved in drafting new contracts, keeping and tracking current documents, managing contract terms, and overseeing contract renewal or termination. The complete contract life cycle is covered by contract automation, from creation to approval, signature, and storage.
The Benefits of Contract Automation
Faster means of creating contracts with minimal error : Contract automation software generates contracts at maximum speed with minimal error while also executing contracts faster than ever before, which is beneficial in many ways. It eliminates the need for paper papers and reduces the risk of errors while filling up and mailing contracts.
Enhanced compliance and security : You can regulate who can and cannot manage each asset by setting roles and permissions, which reduces mistakes and increases security. Furthermore, online signatures on forms and documents are legally enforceable and safe.
Automate notifications : Users can send notifications for major milestones like contract expiration or renewal using contract automation software.
Improve relationships : An inefficient, time-consuming contracting process wears out your customers’ and vendors’ patience. A well-executed, streamlined contract automation solution, on the other hand, shortens contract cycles and reduces the time investment made by customers and vendors, while also lowering the risk of errors being included in the agreement.
Some contract automation solutions in Africa include:
Legalbox: Legalbox is a legal technology company that specializes in offering straightforward legal solutions and collections for everyday transactions and business. Contract automation is one of these systems, which allows users to generate contracts. Legalbox is unique in that you may access your contracts even after your subscription has expired.
DiyLaw : DiyLaw provides a variety of legal services, including business registration, company formation, trademark registration, and more. Users can also customize legal contracts with DiyLaw. You may create your Letter of Confirmation and Board Resolution documents for free with DiyLaw.
Legal Trunk : With an annual subscription fee, startups can access all of the legal documents they require to operate their business. The documents will be generated automatically on Legal Trunk’s platform and will include clear instructions on how to use them.
MyLaw : Mylaw is a technology-enabled platform that allows you to own a standard document in five minutes, request a bespoke/customized agreement in five minutes, and upload a legal agreement for professional review in five minutes.
LenomaLegal : With Lenomadocs, a feature of Lenoma Legal you can easily get access to African (South Africa and Lesotho) attorney drafted and vetted legal documents that you will need as you run your business. Lenoma Legal also provides free business resources on Non Disclosure Agreement, Legal Health Checklist, Code of Good Practice: Dismals etc. Lenomadocs’ mission is to ensure legal documents become more affordable and accessible.
Legalnaija.com : Asides the legal naija blawg, The popular platform for legal information has integrated other features to its website. One of which is a feature where you can draft and download contracts and agreements. It also has a legal chatbot and a lawyer’s directory, where users can get legal help by searching for lawyers based on the Area of Expertise, Location or Law Firm.
Creative contracts : At Creative contracts, your current written agreement is transformed into a visual Comic Contract that can be understood by everyone. Creative contract also offers solutions to improve the induction process, reduce the amount of time spent on contracting, and store the signed contracts online, available to both parties. The mission of Creative contracts is to make contracts that everyone can understand.
Lawyer Wangu : Lawyer Wangu is Kenya’s trusted DIY online platform where you can easily download and print your customised documents in under 5 minutes. Lawyer Wangu offers several documents under these categories; Personal, Business and Real Estate. Lawyer wangu’s mission is to make legal documents easy, quick and affordable.
Contracts have become a very important means of handling legal relationships, and therefore they need to be treated with the same attention and ingenuity as the rest of an organization. With automation playing such an important part in the business world, a vital investment in a Contract Management Solution will secure your company’s long-term success.
Afriwise, an online platform in Africa that provides instant answers to legal and business questions, has secured a €1m investment from a pair of angel investors. Afriwise was created by Africans for Africans, and is extremely useful for anyone doing business in Africa.
Three years after being founded (end of 2018), Afriwise welcomes new investors to its shareholding, with Jacques Emsens and Christophe de Limburg Stirum joining the company’s board of directors, where they are welcomed by early investors Bart Sobry (Zoutman/Potrell) and Mathias Vandaele (Hectaar). The company announced that it has raised a €1 million investment from the Belgian investors. This is promising, as we don’t hear nearly enough about legal tech investments in Africa.
Afriwise is a subscription-based online legal know-how service founded by Steven De Backer, a former South African lawyer now based in Belgium. It offers up-to-date legal knowledge about African markets in real-time, thanks to a collaborative model with top local firms and proprietary, cutting-edge technology. The company has been recognized as the most authoritative and robust online legal-information solution across Africa, offering access to domestic legislation and bills, legal reporting, in-depth practical advice and legal-sourcing solutions, all from a single, centralised platform. Bolloré, Deloitte, Barloworld, Vodafone, Roche, General Electric, DHL, and MTN among others, have all implemented this ground-breaking solution.
Afriwise believes that by partnering with and completely incorporating the African legal sector into its platform, it is contributing to the advancement of the SDGs in the legal and justice space. Indeed, the company collaborates with over 100 law firms across Africa to provide the platform’s in-depth practical legal guidance, making it the biggest joint project ever unveiled in the African professional services sector.
According to De Backer, the new funding will be used to provide users with more relevant content, accelerate expansion into new countries, and enhance the platform’s technology.
The Hague Institute for Innovation of Law is a non-profit organization committed to making justice more available, understandable, and effective. Hiil’s vision is that by 2030, 150 million people will be able to avoid or address their most urgent justice issues, due to increased creativity and scaling what works best.
HiiL’s annual global Justice accelerator innovates and scales innovative services that can prevent or address justice challenges for all to help fill the Justice Gap and strengthen the justice system.
The HiiL Justice Accelerator, each year funds, trains, and coaches a global cohort of justice startups. In Africa, applications are welcome from East Africa, South Africa and West Africa. The Accelerator program is a four-month program that provides justice entrepreneurs with non-equity seed funding of €10,000, full preparation, coaching sessions, mentorship, and a chance to earn up to €20.000 at the Innovating Justice Forum’s pitch event, global exposure, and many more benefits.
How to register for this year’s challenge: Between March 15 and April 30, 2021, justice entrepreneurs can apply for the Innovating Justice Challenge 2021. Startups that are admitted into the program receive €10,000 in non-equity seed capital, as well as the opportunity to pitch to an international jury and bid for additional cash prizes at the annual Innovating Justice Forum: €20,000 (1st place), €10,000 (2nd place), and €5,000 (3rd place).
NextCounsel is the most complete practice management solution for lawyers and law firms in the world. By offering a solution for CRM, case management, automated time and billing, document management system, human resources, and accounting, this product helps to minimize overhead and operation costs while still increasing sales.
The nextPLOS solution is a central management tool that manages the legal department’s internal processes which involves lawsuits, workflow tasks, meetings, and agreements. The NextPLOS solution makes it easy to coordinate, monitor, and handle all ongoing and completed legal activities in an organization. It is appropriate for any business that has a legal department, such as insurance companies, financial institutions, telecommunication organizations, etc.
How does nextPLOS work? The nextPLOS has three main components to ensure the legal team’s effectiveness and productivity:
The Case Manager assists in keeping track of all case data. It strengthens team coordination, document organization, and deadline management. It allows the legal department to operate remotely while coordinating correspondence and enabling the retrieval of records.
The Agreement Manager maintains track of an agreement’s lifecycle. This application helps you to initiate, request, draft, and authorize initiated agreements, since most agreements come from the legal department. It also contains seamless templates to help the legal unit draft agreements easily.
The Meetings Manager recognizes a meeting’s agenda, manages schedules, conducts surveys, keeps track of attendance, and distributes the agenda to all attendees. It helps with collaboration, knowledge synchronization, and real-time alerts. With features like polling, agendas, and more, it makes taking notes and engaging in remote meetings simpler. Last, the meeting manager provides an environment of paperless meetings.
The solution has the following benefits:
The calendaring method assists your company in keeping track of deadlines and events.
Improves corporate governance by allowing all layers of management to work together.
Streamline meeting procedures and align management goals.
It enhances the standardization of the agreement process.
A workflow matrix to drive periodic events, among others.
To get a demo or make an enquiry, send a mail to firstname.lastname@example.org
The HiiL Justice Accelerator scouts for and supports the best justice innovations in a region or country. The organization has supported over 110 startups worldwide since 2011. The support includes training, mentorship and a £10,000 non-equity grant, as well as opportunities for networking. This year, hundreds of startups applied during the accelerator’s call for applications and a number of them were admitted in the 2020/21 cohort of the accelerator program.
About the Startups…
From East Africa, meet…
Exxus built Save; A digital platform that financially empowers Savings Groups sustainably through a comprehensive, adequate, open and user-friendly Saving Groups ledger handling.
Kakuma Ventures creates a platform that enables Africa refugees to become entrepreneurs by building sustainable businesses that provide healthy food, clean water. Logistics services, healthcare, education, shelter, clothing and technology services.
Peleza specialises in background checks. They use official data sources (local and international) to screen candidates while complying with any privacy legislation in force.
Utatuzi Centre connects forward-thinking companies with Alternative Dispute Resolution strategies to resolve any and all legal disputes occurring within the company.
From South Africa, we have…
Lenoma Legal specializes in commercial and labour matters for small and medium businesses. Making legal services affordable and accessible.
Pop.Law makes ‘law for everyone’ by putting people first, followed closely with friendly and affordable legal help from exceptional lawyers.
Luma Law is an artificial intelligence chatbot that uses machine learning and natural language processing in order to learn and communicate with its users breaking down barriers that limit their access to information about the protections of the law.
From West Africa, meet…
Curacel is a claims automation and fraud detection platform for health insurance.
donate-ngis a platform that hosts verifiedcrowdfunding campaigns for social causes.
Mamamoni is a peer to peer lending platform for women entrepreneurs in rural and urban slums.
Stand to End Rape Initiative advocates against sexual violence and supports survivors of sexual violence with pro bono legal and psychosocial services
Transgov collects, analyzes, archives, and disseminates user-friendly data on the state of development projects and service delivery in Ghana.
iVerify provides identity verification services for individuals and corporates.
The startups will participate in the 4-month Hill Justice Accelerator Academy which started on November 4 and will receive £10,000 in non-equity funding. They also get to pitch at the Innovating Justice Forum happening from 8 to 10 of February 2021.
Is your organization developing sustainable, scalable solutions to pressing justice needs? Are you creating access to justice, reducing inequality and unfairness? Then be on the lookout for the next Call for Applications of the Innovating Justice Challenge of the HiiL Justice Accelerator.