We are delighted to announce that Contract Mill has been selected to be part of the Barclays Eagle Labs LawTech initiative.
We have always firmly believed in the need to transform the legal industry. Through the adoption of both new and old technology, and by partnering with like-minded businesses, this can be achieved. Barclays Eagle Labs is one such organization that we are proud to be working with.
What is the Barclays Eagle Labs LawTech initiative?
The LawTech initiative was launched by the Law Society and Barclays and it assists legal businesses with developing and testing new ideas and concepts. It achieves this by offering incubations, events, mentoring, and co-working environments, amongst others.
Law firm partners of Barclays Eagle Labs include Allen & Overy, Ashurst, Clifford Chance, DWF, Norton Rose Fulbright, RRadar, So Legal and TLT.
Transforming the legal industry
Eagle Lab in partnership with the Law Society bridges the gap between emerging LawTech innovation and major law firms to help to transform the legal industry.
Through Barclays sector expertise, the Lawtech vertical is home to a growing number of LawTech businesses who are developing innovative products and services to make the legal industry more efficient and accessible.
Supported by not only law firms but universities as well, it helps start-ups with the development of new technology. It also helps with the ability to scale and provides the platform to engage with like-minded innovators and entrepreneurs.
What does it mean for Contract Mill?
We are particularly excited about being selected to join the LawTech initiative! It not only allows us access to more ideas and concepts but will also help us achieve our goal of bringing next generation no-code technology for everyone in the legal industry.
That is ultimately why we launched Contract Mill six years ago. It was born out of the need to solve a significant problem: the problem was not having a modern no-code document automation product that we could incorporate into our business. One that didn’t need extensive resources or IT skills to implement but was powerful to meet the needs of automating complex document sets. It wasn’t out there, so we decided to develop it ourselves.
Today, Contract Mill is considered one of the best no-code document automation Software as a Service in the markets and it is used in countries around the world. Learn more about us at https://labs.uk.barclays/lawtech/lawtech-members/contract-mill
What does the future hold?
Improving internal efficiency, knowledge management and compliance has been in the core of our customers priorities since the beginning but now we see a growing number of customers taking automation also to the client interface.
In-house departments are quickly setting up self-serve possibilities for their organizations, bringing automated content with our unique Widget functionality just where the people work anyway: now the business people can self-serve and generate custom SCC´s (Standard Contractual Clauses), DPA´s (Data Processing Agreements), NDA´s (Non-disclosure Agreements) and so on, directly themselves yet still fully compliant with the company policies.
Also law firms are increasing their client facing service offering and taking advantage of our flexible solution that allows them to automate not only own but also client bespoke content, fast and easy. And the clients of these firms are delighted as they are given the possibility to self-serve and generate documents where they want via Widgets, yet having their own trusted law firm as the manager of the content.
This is the direction (self-serve, accessible content, new revenue streams) that we wholeheartedly support and want to accelerate by continuing to innovate and solve problems that have not been solved before. Being selected by the Barclays Eagle Labs LawTech initiative is certainly another step in the right direction.
We believe that the coming months are going to present excellent growth opportunities for Contract Mill, and we certainly look forward to what the future holds.
You can find out more about the Barclays Eagle Labs LawTech initiative by visiting their website https://labs.uk.barclays/lawtech.