Benefits

Protect your legal team’s time and allow them to focus on high value tasks

Allow business users access to a self-service tool that can provide them with the support needed to get their documents executed without disturbing your legal team.

Enable faster document execution turnaround time

Eliminate the need to engage the legal team for direction on approvers and get an automated system routing to the appropriate stakeholders. Automatically generate a transcript of all stakeholder approvals and eliminate the need for wet signatures.

Manage your document execution request

Use MLS’s dashboard to keep track of all your submissions and view a real-time status of your request. Send reminders to stakeholders who haven’t actioned your document yet.

challenges

HOW DOES MLS ADDRESS IT?

Business users do not know which stakeholders to engage for document execution and often consume precious time from legal teams to determine this.

Due to the ad-hoc nature of the document execution queries directed to in-house legal teams, business users frequently provide incomplete information, resulting in lots of back-and-forth emails to clarify the request.

Once the correct stakeholders are identified, it is difficult to coordinate and document the back-and-forth email communications, comments and ultimately, approvals from stakeholders who are required to sign off on the document.

After the completion of the document execution approvals, signatories are typically asked to print the finalized document, place their wet signatures on it, and then return it to the business user via email. This is extremely time consuming, prone to delays, and inconvenient to high level executive stakeholders.

Business users have to manually upload their finalized documents to their file repository system which is tedious and not a widely complied with habit.

MLS eliminates the need to engage the legal team entirely by using our powerful calculation engine and decision-tree logic to route business users to the appropriate signatories based on factors such as document type, financial impact and risk rating.

Using MLS’s smart-forms, legal teams can ensure that business users submit all required information before the relevant review and approve stakeholders are involved.

MLS facilitates and centralizes the back-and-forth comments and approvals between the business user submitting the document and the respective business owners approving it.

MLS utilizes native e-signature integrations to capture electronic signatures from the final signatories, saving senior executives both time and effort.

MLS acts as a repository, where business users can search through past submissions and retrieve previously executed documents as well as their transcript of approvals. MLS is also able to integrate with third party systems to automatically store a finalized, signed agreement in the repository of your choice.