Running a small law firm definitely has its perks, but it also carries with it a bit of risk.
One of those risks involves having different team members creating their own contracts. Poorly or loosely worded contracts or legal documents with outdated language can have far-reaching consequences, including negatively impacting your organization’s productivity and worse, opening up your client to risk.
If you don’t want these practices to hinder the growth and reputation of your firm, then it may be time to consider implementing the use of standardized clauses across your team, stored in a central repository, such as Woodpecker’s clause library.
What is a Clause Library?
Before diving into the details of a clause library, let’s first define what a clause is. Clauses are provisions included in a written agreement that address a specific aspect of the overall agreement’s subject matter. They are essentially the building blocks that make up a contract document. Each piece contains specific language and can be assembled in various ways to make up different types of contracts.
While maintaining standardized clauses can be challenging for any-sized firm, a clause library can help keep clauses organized and simplify the contract creation and approval workflow. This is because clause libraries serve as repositories that store the legal language used to generate those contracts.
When storing clauses in a library, users are able to select, organize, and insert any number of clauses into a contract or document, which ensures everyone is using consistent clause language across your firm.
Woodpecker Clause Library offers a simple, smart, and secure way to share and manage your firm’s standard clauses. Key features include:
Providing users with a collection of ready-to-use content that is already reviewed and pre-approved prior to use.
All team members have access to view, edit, and utilize any clause in the clause library, within any template.
Compatible with folders, a drag-and-drop functionality that allows users to organize clauses and templates into files.
Only the user who originally authors a clause may change the name or delete it
The benefits of clause libraries are numerous. Here are a few reasons why your future self will thank you for implementing Woodpecker Clause Library in your firm:
Save time: Reduce the time spent manually searching for clauses and then copying and pasting those clauses into a contract. Using a clause library to generate frequently-used language means you won’t have to waste hours locating and/or modifying clauses used in previous documents.
Increase efficiency: Because your clause library will already have a rich supply of pre-approved and pre-built clauses, you’ll have an easier time finding clauses that fit various criteria while being legally compliant. This removes the possibility of using clauses with inconsistent formats, languages, and terms. You even have the option to consolidate many templates into one location. All templates in Woodpecker can access any clauses stored in the clause library.
Reduce risk: Non-standardized document drafting is a lot more susceptible to errors. Since the Woodpecker Clause Library acts as a central warehouse for legal language and other data, whenever information needs to be updated, it only needs to be updated in one place. From draft to revisions, you can rest easy knowing your team’s using the right language every time.
Optimize performance: Clauses in most organizations grow organically and end up residing in multiple places, and oftentimes, within multiple versions of templates. In many cases, this results in version control and compliance issues. Clause libraries are designed to remove administrative inefficiencies, shorten cycle times, and maximize transparency.
Deliver better client experience: Speed of delivery is both an expectation and a demand of clients today. Being able to draft customized legal documents quickly via the Woodpecker Clause Library will inevitably lead to a higher client satisfaction and retention.
Clause Libraries Put You in Control
Legal documents are arguably the backbone of any law firm. But without accurate and consistent terms and language, your practice is essentially flying blind.
The reality is that if you’re not taking advantage of clause libraries at this point, you could be costing your business valuable time, money, and opportunities. After all, the reality is that organizations that continue to operate using outdated processes and technology risk being surpassed by their competitors.
Fortunately, implementing a document automation solution that includes clause libraries is a great way to help your firm maintain consistency and safeguard the reputation of your firm.
Ensure your team is using only firm-approved, standardized language by building out your Woodpecker Clause Library today!