Self-Service NDA
Automating the NDA process by deploying a self-service NDA workflow can generate enterprise-wide consistency and sizable savings. It’s why more and more legal departments are turning to legal workflow automation solutions like TAP Workflow Automation.
Example: When Yahoo Legal leveraged TAP, it created a self-service NDA workflow portal covering 20+ countries, even utilizing Chinese characters. Used by hundreds of employees annually, it freed lawyers or paralegals from being bogged down in hundreds of NDAs, eliminating thousands of costly wage hours.
Challenge
Design and launch a self-service NDA workflow to eliminate inefficiencies, improve compliance, and reduce costs.
Solution
- Self-service 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 self-service NDAs via online commentary/notation.
- Notifications and alerts can be dispatched to stakeholders at pre-designated points throughout the process.
Benefits
- 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.
- Each self-service NDA workflow can be automatically backed up to a secure Cloud archive, easily accessible for audit, governance and compliance purposes.
- E-signature integration standardizes secure approvals.
ROI
- A self-service NDA workflow can be up to 7 times faster and 15 times more efficient than a manual process, with 100% compliance and up to 400% ROI.
- Fast adoption and ease of design/launch optimizes Time-to-Value via nearly immediate ROI.
