A Transaction Signing Assistant safely navigates law firms through the complex signing process of commercial and financial transactions. To ensure that all the required approvers and signatories get involved at the right time, the legal counsel in charge is guided through the signing process step-by-step by the tool. It also offers the possibility to automatically conduct certain tasks such as the sending and receiving of signature pages to/from the relevant parties. Beyond that, it can also be connected to other tools such as DocuSign and thereby provide a seamless workflow for the whole signing process.
When it finally comes to the signing of a commercial or financial transaction, a large number of tasks must be carefully coordinated by the legal counsel who is in charge of the signing process. Even though this is a routine task for law firms, it still requires the legal counsel’s greatest care and does not allow for any mistakes. Therefore, manual checklists are usually created to ensure that all relevant steps are thoroughly completed.
BRYTER allows law firms to build their own Transaction Signing Assistant which transforms such checklists from an often Excel-based process into a digital application. It navigates the user step-by-step through the signing process and thereby ensures that each required step is completed at the right time thus minimizing the room for error. The tool carries out a variety of processes automatically such as the sending of documents and signature pages to the relevant parties and requesting signatures from them. This process can be fully integrated by connecting other tools to it, such as DocuSign, which allows law firms to set up and run a completely digital signing process.
How it works
Through an intuitive graphical interface, the underlying workflow of the Transaction Signing Assistant is customized to the specific circumstances of the transaction in question (e.g. number of parties and type of documents).
When the transaction is ready for signing, the person in charge opens the Transaction Signing Assistant which navigates them through each step of the signing flow and carries out certain tasks automatically.
A dashboard allows the user to keep track of every step of the signing process and gives a complete overview of all fulfilled tasks. All signed signature pages which were uploaded or digitally signed by the parties are stored in a central database and can be downloaded from there for further processing.