Automate your entity management today
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When businesses lack automation in their legal operations, they often rely on external counsel. In many cases, this reliance tends to increase over time as companies expand their organizational structure, enter new jurisdictions, or face growing regulatory challenges.
In the face of rising law firm rates, many global organizations seek legal cost reduction through automation. Below, we discuss why automation is the key to cost-effective legal operations, review the legal workflows that can be automated, and explore how to ensure the best ROI for your legal technology.
Reducing external counsel dependency starts with equipping your team with the right technology.
In-house counsels handling governance, compliance, and entity management tasks need automation solutions to address the challenges faced by their organizations, including:
When organizations implement an effective entity management platform, their teams gain access to multiple in-house legal efficiency tools for diverse applications.
Moving entity data to a single platform allows role-based access to corporate records for all teams from anywhere on any device.
When company stakeholders can search and access required information on a single platform, the number of inquiries to the legal department is immediately reduced, saving time for more strategic tasks.
When an organization employs automation in legal operations, compliance teams can leverage customized templates to reduce manual input, push data into reports and generate disclosures automatically.
Working in Athennian, the legal teams can further streamline their compliance work with eSignature and electronic disclosures to file annual reports and changes to government registers.
The most advanced entity management platforms, like Athennian, offer AI-based tools to process multiple documents simultaneously within seconds.
For example, the Athennian AI Centralize tool significantly reduces data upload time, saves multiple hours through automated data entry and allows a 90% reduction in document filing time.
With all information on ultimate beneficial owners centrally stored on a single platform, the teams can ensure UBO disclosures, provide for compliance at all times and streamline the AML/KYC checks.
Working in Athennian, the legal teams can use the AI-based Initialize tool to create legal entities automatically, reducing entity creation time from 45 minutes to under 10 minutes per entity.
Assisted by automated deadline tracking, the legal teams can ensure regulatory adherence at all times and stay on top of compliance across all their entities and jurisdictions.
Athennian entity management platform includes an advanced org charting module that allows businesses to create detailed organizational charts within a few clicks, demonstrating entity data and complex ownership relationships.
The teams can further leverage the platform's capabilities for automatic cap tables and other custom disclosures.
In one case, Athennian was deployed by Westgroup, a Canadian real estate developer with a $4 billion investment portfolio of residential, commercial, and industrial developments across hundreds of legal entities.
Committed to planning for growth, the company aimed to improve its adaptability to shifting regulations and foster collaboration among teams while achieving cost savings with compliance automation.
Westgroup's decentralized organizational structure and legacy entity management system created challenges for all teams, including executives, legal and finance:
The company realized that their existing entity management system was holding them back and looked for a holistic solution to:
After migrating to Athennian, the company was able to significantly reduce its external legal costs with :
When evaluating legal technology ROI and capabilities, organizations need to consider if it can allow their legal teams to address modern compliance challenges, ensure collaboration and implement best practices for legal document automation.
By choosing effective legal tools designed around compliance processes as they are implemented today, organizations can ensure efficiency and maximize ROI.
An effective entity management platform should provide legal teams with the necessary functionality to automate their workflows, including data entry, document upload, compliance filings, eSignature, and automated deadline tracking.
When legal teams automate their processes, they need a system with UI that is easy to learn, enabling them to start working on tasks without a steep learning curve.
The transition to modern legal technology can be made easier when the platform allows a streamlined migration and can provide dedicated support and training to legal teams starting to work with the system.
Legal automation tools don't just cut costs—they empower teams to work smarter and more effectively. Automation tools help teams save time, effort, and resources by allowing immediate access to all corporate records, generating reports within seconds and enabling collaboration across the board.
See how automation can transform your legal operations and provide for legal cost reduction—schedule a demo of Athennian's automation tools today!
"Very easy to use, modern interface, excellent support. Athennian has an amazing conversion team. They helped us migrate all of our data and the training was very good."
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“When we were reviewing other entity management systems on the market, in some cases, we were not comparing apples to apples. But with Athennian, there was really no comparison. The paralegals were so excited to come on board.”
"There are so many things I like about this program, but the one thing that really stands out is the user friendly interface. The program is fast and allows me to enter corporate information very quickly and efficiently. I would also like to note that Athennian provides the most the fantastic customer service."
