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Statement of Work automation

SoW is a complex document that requires focus and attention to detail. No wonder it can take up to 3 hours to prepare, especially if it’s done manually. Automation reduces this time by up to 80% while remaining compliant and minimizing involvement from Legal.

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What Why When How How

What is SoW automation?

SoW automation uses AI technology to draft, approve, execute, review, and track SoWs.

The old way

  1. A Project Manager requests the SoW.
  2. A lawyer starts looking for the template. This may take a while if templates aren’t stored in one location.
  3. The template is sent to the PM.
  4. The PM describes the work, requirements, instructions, conditions, and acceptance criteria. If they are not formulated clearly or something is missed, there may be misunderstandings in the future.
  5. After filling in the template, the PM sends it for legal review. While the lawyer reviews, if it turns out that an outdated version of the template was used, the whole process has to restart.
  6. Once reviewed, the SoW is sent back to the PM.
  7. The PM sends the contract to a client for sign.
  8. After it’s signed, it’s returned to Legal where it’s saved on a computer, in a drawer, or somewhere else to keep it “safe” and forgotten about forever.

 

Read about SoW

AXDRAFT way

A person prepares the document by answering simple questions. The answers are then inserted into a pre-approved, compliant template. Once all data is filled in, the document is sent to the counterparty to e-sign. And voila!

Why automate SoWs?

4 minutes drafting time
80% faster contract turnaround
100% fewer errors
SoW location standardization

Text about the applicable laws and company signatories may depend on the business area, especially if you operate in more than one. Standardized language allows suitable provisions to be created for different areas at the same time.

Accelerated SoW creation

Instead of spending hours, you can create an SoW in minutes. Our AI-powered system will fill in all the gaps in the pre-approved template, reducing the drafting time to just a few minutes. 

Cost cutting

Companies lose revenue because of fines, penalties, improper oversight of deliverables, missed deadlines, or other manual errors. And the more time a lawyer spends on a document, the more expensive it gets. Automation can cut contract management operating and processing costs by up to 30%.

Visibility

Signing contracts is only the beginning of another contract lifecycle stage. It’s crucial for carefully managing contractual obligations. Otherwise, it may cost you cost a king’s ransom worth of revenue. Automated workflows give every team member clear visibility of milestones and deliverables.

I want to automate SoWs

How you can tell when your SoW workflow needs improvement

 

Your SoW doesn’t state all performance requirements. SoW requires attention to detail. Since there’s a lot that needs to be mentioned, it’s easy to lose track of something while preparing or negotiating a contract. For instance, if you can’t find the Acceptance Criteria, something went wrong.

You lose track of data. When you’re fishing out a million little details in documents scattered over different places, it’s almost impossible to find what you need.

Your SoW leaves obligations implied. You understand your needs, but your provider may not. Without standardized language, some things may be stated unclearly. And if managers express statements differently,

Legal review delays signing the deal. Legal has to check all contract details each time it’s drafted. These numerous revisions may result in poor client experiences and potential revenue losses.

Documents are full of errors. When copy-pasting, you risk accidentally entering data incorrectly. With SoWs, even the slightest mistake can hit you hard.

See how your NDA automated workflow can look like

Our demo takes an average of 57 seconds and you will receive a perfect NDA. That’s how fast you can draft all your documents, too

Check out automated NDA

How to automate SoWs

AXDRAFT handles all the automation heavy lifting for you. But whatever software you choose, these steps will help you to automate your SoWs. 

Define document variables

Identify which parts of the document will change, whether it’s the wording or appearance, and the questions they answer. It may be the document’s language, changes in different sections depending on needs (Scope of work,  Type of Services Fees, Type of Expenses, Applicable Exhibits, etc.), and so on. 

Define the document’s workflow

Declare who will be preparing the SoW and who will be approving the Q&A template for filling in contract details. Thanks to the SoW automation, non-lawyer users can process SoWs without risk.

Determine when to involve a lawyer

There are some cases when a lawyer may need to be contacted. For example, if a counterparty has questions or comments that need to be addressed before they can sign. In this situation, the SoW goes to a lawyer to review. Once both parties agree to any changes, the SoW can then be signed. Depending on certain conditions, the SoW could be sent for external review, to an accountant, or to any other stakeholder.

Assemble a clause library

Create a clause library so that you can easily swap clauses in and out of documents in just a few clicks. Not only will this help you review documents faster, but it will improve compliance.

Get our free guide on legal templates

Prepared poorly, even simple contracts can significantly harm your company. This guide will highlight what you need to know and how to avoid common mistakes.

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Essential features to look for in SoW automation software

Centralized repository

Storing all your documents in one place makes contracts and templates easily accessible for your employees. Also, you can rest assured that they’ll use the latest versions of your templates.

Real-time redlining

It’s important for companies to be able to collaborate on documents simultaneously. Working on documents side by side with several people in real time dramatically improves negotiations and version control.

Scheduled reminders

When you have to track obligations and stay on top of milestones and phases, reminders can save the day. Customizable dashboards won’t let you miss any important date. 

Access control

Working with external contractors means sharing your information. You can’t always be sure about their security. However, software that can provide access control will guarantee that data is accessed only by authorized users.

FREQUENTLY ASKED QUESTIONS

A Statement of Work (SoW) is a legally binding document that defines a project’s work management aspects. It’s an overview of the project scope. It outlines the scope of work, deliverables, timeframes, and acceptance criteria.

A Statement of Work is used when outside contractors or collaborators are working with your in-house team. It is also a valuable tool that vendors and suppliers can use to estimate delivery costs and submit a bid. An SoW is not a separate contract, but it is often used in conjunction with Requests for Proposals and Master Service Agreements (MSAs).

Why automate SoWs with AXDRAFT

Q&A templates

SoW templates are complex and difficult to draft. Q&A questionnaires make it easier to create SoWs. AXDRAFT includes this feature automatically.

Proposal-based SoWs

Thanks to AXDRAFT’s approach to data, you can automatically generate SoWs based on proposals that your client accepts.

Custom reminders

With AXDRAFT’s To-Do panel, you can leave yourself a task or memo so that you’ll always be able to track milestones and deliverables.

Get the most out of your contract lifecycle

Here’s how much AXDRAFT CLM helps you save annually for every 1,200 contracts you process

CONTRACT CREATION
COLLABORATION
REVIEW
APPROVAL
SIGNING
STORAGE AND ANALYSIS
OBLIGATIONS TRACKING
⏱ Time you save

320 hrs

🔥 Value you gain

$28,8K

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⏱ Time you save

630 hrs

🔥 Value you gain

$56,7K

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⏱ Time you save

810 hrs

🔥 Value you gain

$72,2K

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⏱ Time you save

100 hrs

🔥 Value you gain

$9K

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⏱ Time you save

200 hrs

🔥 Value you gain

$18K

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⏱ Time you save

118 hrs

🔥 Value you gain

$10,6K

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⏱ Time you save

315 hrs

🔥 Value you gain

$28,3K + contract value

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Speed up your business with automation

Automated contracts are the new reality for legal departments. Optimizing workflows will help teams close deals faster and cut down on routine.

NDA

A non-disclosure agreement is a legal contract or part of a contract between at least two parties that outlines confidential material

Automate
DPA

DPAs ensure that security and data processing remain compliant with GDPR requirements, and that data providers are able to prevent any potential abuse or breach of data.

Automate
SoW

A Statement of Work is a legally binding document that defines a project’s work management aspects that provides an overview of the project management scope.

Automate
MSA

The MSA governs relations between parties, it outlines all activities and responsibilities. Managed efficiently it makes negotiations simpler and establishes an effective system for accomplishing mutual goals.

Automate

Axdraft is very easy to use and produces documents quickly. It is entirely customizable, and customer support is extremely responsive. In our case it allows attorneys to be more productive and less reliant on the availability of a legal assistant to draft estate planning documents and probate pleadings and related documents.

Amy L.
Attorney & Managing
Law Practice

Transform complex legal text

into simple questions

It’s more convenient to use Q&A templates when documents contains tons of details.

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