A True TAP Use Case: Self-Service NDAs
By Christina O’Connell, General Manager – EMEA
For legal operations teams and law firms, the Non-Disclosure Agreement (NDA) process can be lengthy, time-consuming and costly, and those issues are only amplified at the corporate and multinational level. Whether for dozens, hundreds or thousands of NDAs a year, paper-based processes are inherently inefficient compared to TAP-automated NDA workflows and the benefits they’ve brought to users.
Automate the NDA submission and review process to eliminate inefficiencies and errors.
A workflow that standardizes the process and minimizes the need for management gatekeeping:
- Using a self-service online portal and standardized forms, users can request and obtain error-free NDAs without any involvement by a lawyer.
- NDAs can be custom-designed or use TAP’s pre-formatted templates.
- A full template repository warehouses NDA templates to meet any contingency.
- Routing of requests to the right internal stakeholders, if needed, can be built into the NDA workflow.
- Signature authority requirements are integrated into the workflow and can leverage secure e-signature tools.
- Real-time status monitoring provides process oversight.
- Stakeholders can collaborate in approval processes and more complex NDAs via online commentary/notation.
- Notifications and alerts can be dispatched to stakeholders at pre-designated points throughout the process.
- The NDA process can be up to 7 times faster, 15 times more efficient, with 100% compliance and up to 400% ROI.
- Simple standardized NDAs can be obtained any time, any location, without costly internal review by legal personnel, driving considerable savings.
- Via a single portal, large enterprises can now manage NDA processes at scale, even across global networks.
- Automating the process delivers an error-free workflow and user experience that’s faster and more reliable.
- NDA workflows are automatically backed up to a secure Cloud archive, and easily accessible for audit, governance and compliance purposes.
- E-signature integration standardizes secure approvals.
NDAs can be a significant time and money drain on legal operations, and those who have switched over to workflow automation of the process have seen immediate, even transformational gains in efficiency, compliance, and savings.