Legal administration is a critical element across businesses, ensuring compliance with regulations, tracking contracts, and managing litigation. It is a tedious process that encompasses many sub-tasks that consume a lot of time and human resources. In such scenarios, Robotic Process Automation (RPA) can be the savior that can automate manual, repetitive and rule-based tasks. RPA has brought remarkable changes in the business world, helping businesses realize improved operational efficiency, productivity, and reduced errors with the introduction of software bots. This paper is aimed at exploring the significance of RPA in automating legal administration.
The Significance of Automating Legal Administration through RPA:
Legal administration is a time-consuming and complicated process, where mistakes and errors can be costly. Many legal professionals spend much being overburdened by tedious manual tasks such as invoice processing, data entry, and contracts management that leaves little time to focus on core legal activities. RPA, with its ability to automate manual processes, can provide more time for legal professionals. It can help streamline administrative processes, improve efficiency, and reduce errors. According to the McKinsey report, by 2025, RPA could have an economic impact of $6.7 trillion a year, which clearly underscores the transformative nature of RPA in various industries.
RPA has significantly transformed the legal administration process. It has helped automate mundane, repetitive tasks such as sorting, scanning, and manually processing documents. RPA bots can help legal practitioners conduct legal research using open-source databases, such as Pacer, and legal research tools such as Ravel Law, thus freeing them to focus on other legal tasks. Additionally, bots can assist in investigations by automating the procession of documents and flagging the relevant ones for the lawyers to review. Furthermore, it also has the potential to improve efficiency, reduce costs, and increase accuracy. RPA tools can eliminate the possibility of errors and ensure complete adherence to rules and regulations.
RPA has also played a pivotal role in contract management to reduce risk, streamline processes, and boost productivity. According to the International Association for Contract and Commercial Management (IACCM), contract management is an essential business process that directly impacts the company’s success. The IACCM also revealed that the entire lifecycle of a contract typically takes 20-30% longer than necessary, leading to a significant drain on resources. RPA bots have automated contract management processes to reduce errors, redundancies, time and saved costs. Bots can analyze multiple clauses of a contract, compare it to pre-existing policies and validate supplier credentials. They can also send notifications for contract renewals, flagging potential problems in real-time, and automate contract creation.
Some drawbacks of RPA in Legal Administration are:
• Limitations restrictions in dealing with complex and subjective problems
• Software complexities and compatibility challenges
• Inability to perform judgmental evaluations.
In conclusion, RPA has proved to be indispensable across various domains, with its potential to automate tedious, manual and time-consuming tasks. Legal administration is no exception. RPA has come up as a game-changer and can bring in tremendous benefits for the legal industry. RPA can assist lawyers in managing complex legal research work, increase the efficiency of contract management, and significantly reduce the burden of manual work that reduces productivity. The legal industry is now on the cusp of embracing RPA and getting the most out of it. With the introduction of advanced analytics and artificial intelligence tools, businesses can take the next big leap in revolutionizing the legal administration process.