The legal tech market is expected to grow to 25.17 billion U.S dollars by 2025.
This trend has partly resulted from tech companies growing too fast and their need to automate a lot of legal processes — from hiring to closing sales and hiring contractors.
Good thing is that there are easy-to-adopt legal technologies that can help automate your paperwork and legal processes. These legal SaaS tools help businesses make their daily work efficient, lighter, and faster. Especially when it comes to managing all the companies’ contracts, which often involve repetitive, time-consuming tasks.
Let’s dive in and get to know some of the best legal SaaS tools on the market.
What is legal SaaS?
By simple definition, legal SaaS (software as a service) is a cloud-based legal software for HR, sales teams, founders, and lawyers that make legal work like contract termination, HR paperwork, and approval collection more scalable.
By using legal SaaS solution, growing businesses reap the following benefits:
- Quick turnover of legal documents
- Easy file access because everything’s in the cloud
- Manageable and predictable monthly costs
- Scalable legal work without hiring more lawyers
What 5 legal SaaS do businesses use?
Contract Lifecycle Management Software
Also called CLMs, this kind of legal software solution controls how contracts are created, shared, and stored so you can manage the contract’s entire workflow in one place, from pre-signing to post-signing.
Contract lifecycle management software assists with standardizing legal documents, making contract execution more efficient and transparent, and keeping all the contracts in a unified data-driven management system. By using it, users can accurately estimate how effective their current process is, leaving them with more energy to further optimize it.
Contract Lifecycle Management Software tools:
Avokaado is a contract lifecycle management software that’s fully customizable to support legal processes for your business. It’s ideal for automating your contract lifecycle management, allowing teams to focus on their core function without worrying about the legal paperwork.
- The centralized library allows even your colleagues with no legal background to draft an up-to-date contract.
- You will also love the lean dashboard it offers. The user interface is uncluttered, so it gives you a straightforward experience.
- Data-driven document workflow management that allows data insertion
- Shared clause library for easy re-use of standard clauses and clauses from previous contracts
Precisely is a contract management software that allows the legal department to design compliant contracts at scale. It automates the approval process, giving you more control of the end-to-end contract lifecycle process.
- Automated templates that lead to faster and safer drafting
- A centralized system for keeping, reviewing, approving, negotiating, and e-signing in one place
- State-of-the-art server hosting for tightly-controlled access
Legal documents like NDAs and Service Agreements are frequently used. It’s better if you can start with lawyer-checked templates than always check in with your legal department all the time. Plus, templates save you time, so you can focus more on hitting your KPI’s than starting another contract from scratch again.
You can simply use a master document template that has all the clauses you can readily use. With this legal SaaS, you can quickly modify this template and then send them off as official contracts.
They offer no workflows, so if you just need to produce a document fast, they are the best legal software. All you have to do is enter the necessary information to customize the contract according to what your business needs.
Document templates tools:
Formstack lets you create branded forms that collect information from clients. By using Formstack Documents in conjunction with Formstack Forms, you can easily input data and efficiently produce documents. They give you the power to generate documents fast.
- Easily personalize contracts, agreements, NDAs, and other documents from collected data
- Collaborate on documents that need approvals
- Get forms and documents that meet industry standards
RocketLawyer is great for creating custom legal documents. Their form builder, which asks you a set of questions, can produce an agreement or contract in minutes. Your answers to the questions will automatically sort the document you produce and it’s in compliance with state law.
- Easy-to-use agreements, contracts, and other legal documents
- Online Q&A with a lawyer
- Great customer support with on-call attorneys or just representatives
A legal SaaS that provides document automation allows you to generate documents automatically and build a workflow around it. You can build new contracts based on answers to questionnaires on your form.
This way, you can draft exactly how your business regularly prepares them ― just the consistency you need.
Business users could use document automation to create paperwork that comply with the terms outlined by the legal team. Thus, they won’t need to generate documents from scratch every time they need to.
Document automation tools:
Documate requires no coding knowledge, so setting up a variety of legal documents with workflow is fast. The platform is easy to use, yet it allows complex logic and multiple documents to be assembled simultaneously. It makes it simple for any business to automate all of its legal agreements as the templates can be turned into a workflow.
- Create a set of questions so you can draft based on your own templates
- Turn your templates into workflows that populate client data into your forms
- Run the workflow to assemble documents or send emails
Legito makes keeping track of documents simple. They also help you automatically assemble documents quickly. If your document generation involves multiple stakeholders, it will be easier to “keep them in the know” and get their approvals.
- Unique workflow features for bespoke automated process flows
- Template version control so you can easily go back to older versions when needed
- Auto-extraction of deadlines and data from Legito documents to gather and reuse data
Legal Project Management
Legal Project Management SaaS keeps you organized — and on schedule — when handling legal projects. Its system allows you to handle similar cases quickly and efficiently rather than working through each new case as it arises. You’ll be able to increase productivity by using this legal technology in your processes.
When you use this solution, everyone in your organization will be able to easily see what’s going on with every case at the same time, all without having to ask for updates from each other.
You’ll have one central location where you can schedule appointments, send emails and reminders, store documents online so they’re accessible anywhere, keep track of expenses and deadlines — everything is automated!
HighQ helps businesses bring all the people, files, knowledge, data, tasks, timelines, and notifications that surround your projects together in one place. This helps you deal with legal matters with minimal risk, knowing that you have an overview of how each project is going and if there are urgent issues that need attention.
- Real-time access to spend-versus-budget dashboards
- Project risk trackers, status updates, and automated alerts to mitigate risk
- Tasks, notifications, dashboards, collaboration and messaging in one place
Using Amberlo, you can say goodbye to missed court deadlines or even unbilled work. With it, you’re able to track important documents and case processes across departments. Tasks related to legal services from scheduling to the issuance of invoices also become more efficient.
This tool is highly-tailored for law firms, but consulting companies and public organizations have also been using it.
- Automate the filling out of contact and matter information
- Powerful contact management of clients
- Time entries for easy billing
Paper signing of legal documents is vulnerable to fraud because it can be easily altered and inconvenient when documents are left unguarded. That’s why using eSignatures is far more efficient and safer in this case.
Digital contract signing software helps you get your customers’ electronic signatures on any document from anywhere in the world. You can sign contracts, agreements, forms, and more digitally without ever having to print them out again. Not only will this save you time but it will make sure all of your important documents are safe from tampering.
DocuSign is great both from the users’ and their clients’ perspective. The software is easy to use and navigate. Utilizing its efficacy to collect electronic signatures results in improved administrative costs. Authentic signatures are made in a few clicks whether inside or outside the company.
- Standard fields to your agreement, like signatures and dates
- Multiple signature steps for easy setup and tracking of documents
- Informing signers about documents that need to be signed and their expiration date
SignNow allows you to sign documents and send them where they are needed. They remove the tedium of running around collecting wet signatures or transacting through mails. It is a cost-effective solution, especially for small businesses and start-ups. With its price, you have a decent platform for collecting eSigns.
- Speeds up legal contract workflows by letting you sign through a computer or mobile device.
- Complies with the ESIGN act to protect your legal data
- Drag and drop eSignature field
It’s never too late to adopt legal SaaS
Technology has made it easier than ever for scaling businesses to keep up with the growing demand for legal work. Legal SaaS helps them scale legal work compliantly without hiring more in-house lawyers.
Legal software can be a huge help whenever businesses are growing rapidly, but don’t have the budget to scale the legal department yet. These tools help teams help themselves through self-serve legal SaaS.
We hope this helps you choose which legal software best supports your growing operations.
Start with Avokaado CLM, an integrated system that allows your team to manage all legal aspects of your business from one place. Try modern Avokaado CLM for free for 7 days.