Stats are a funny old thing.
We see them a lot and I don’t know about you, but I often wonder if there is any truth to them.
You see, when it comes to using any kind of technology to make our working lives easier, lots of companies like to use stats to sell their products. The idea is to work them into the initial sales pitch on the phone, make sure you mention them in demos, and even share a video showing how simple that particular feature is and wax lyrical about how it’s a “game-changer” for that lawyer’s business. Sound familiar? Of course, it does.
Here’s a funny statistic: did you know that only 5% of people remember statistics, whereas 63% of people remember stories? We want you to remember this, so here’s a short story about law firms using e-signatures…
Many of our law firm partners have used electronic signatures to onboard 65% of their new clients in less than two hours. It’s a statistic, but it is also a true story. Imagine that turnaround time in your own practice.
Not only that, but they tell us they have transformed the client experience and are able to get agreement on terms of business (“TOB”) in what has been described as “lightning quick time”.
That’s it, that’s the story. It’s a very short story, yes, but I bet you are now thinking about how you could achieve the same stat!
Getting a signature on a legally binding document has long been a cumbersome process. Either the document would have to be sent by post/courier to the relevant parties, with the lawyer hoping the signatory would sign and initial in all the correct places. Otherwise, those involved would have to physically travel to the law firm to provide a “wet ink” or physical signature. Over the past 18 months, circumstances made that whole process even more challenging.
Many of our law firm partners had long been curious about the use of e-signatures in the legal sector. There were initial, understandable concerns. Thankfully the industry as a whole has come to accept that e-signatures are now a necessity, and embraced digitisation for critical processes such as TOB.
This year the Law Society of Scotland created guidelines that will provide assistance to members on the electronic signing of documents, covering the relevant law and potential risks. They are reinforcing the need to overcome the impractical logistics of signing in wet ink. Charlotta Cederqvist, the Society’s Head of Business Development said: “Used appropriately, electronic signatures offer a secure, fast and remote way to conduct legal transactions, meaning it doesn’t matter if you’re down the road or the other side of the globe. Integrating signature solutions with case management systems such as Denovo’s CaseLoad will create efficiencies for law firms and their clients.”
The stats don’t lie!
When law firm leaders are giving you stats like 65% of clients are onboarded using e-signature in less than two hours; when they are telling us that 80% of TOB, agreements, contracts, etc, business are returned in one day, I think it’s worth finding out how they are doing it. Don’t you?
Let’s make life easier together
Our job at Denovo is to get you there – to explain how you can do it too. By introducing our case management system, you will have e-signature already fully integrated. We’ll help you collect data electronically and automatically update information in CaseLoad – eliminating the need to rekey data. Everything stays legal and visible with a complete audit trail.
- Criminal court: ID from CCTV
- Criminal court: Justiciary Office briefing
- Licensing: Passport to confusion
- Planning: COVID and NPFD update
- Insolvency: Winding up easier, but hurdles remain
- Tax: Government continues to bring in new taxes
- Immigration: Asylum from the Taliban?
- OPG: Update
- Property: Common parts – a welcome clarification
- In-house: Lawyer with natural energy