Summary
The London-based Real Estate Finance team specialises in Structured Real Estate Lending and Loan Facility Structuring, helping companies secure financing for land purchases and development. However, their existing document automation solution was slow and inefficient—taking hours to generate documents and requiring automation team support for any edits, especially for the 600-page Senior Facility Agreement (SFA), which was particularly difficult to automate and update.
Challenge
The Real Estate Finance team of this primary law firm
- Time-consuming templating: Automating the 600-page Senior Facility Agreement took weeks, requiring automation team support.
- Slow document creation: Generating the SFA could take half a day, often left overnight with risk of software freezing.
- Limited automation features: Existing tool lacked block conditions, making automation rigid.
- Inefficient approval process: Approvals required email follow-ups, causing bottlenecks.
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Claire Huber
CEO of Company
The Solution
Avvoka provided an intuitive, easy-to-manage platform, that allowed the team to self-automate documents through an intuitive no-code system. No need to learn complex markup syntax.
This means that lawyers could automate any edits to the main SFA independently, without relying on the automation team.
- Avvoka supported both Inline Conditions and Block Conditions: Inline Conditions automate words or sentences, while Block Conditions automate entire paragraphs or clauses—simply by highlighting and clicking a button.
- Document generation was quick: it now took only 30 minutes to create a 600-page SFA agreement by answering the questionnaire, instead of half a day!
- With Template Packs, the team could generate all the documents in the Real Estate Finance Suite, by answering the same questionnaire. Since most datapoints are shared across documents, this led to fewer errors and greater standardisation.
- Approval Workflows eliminated the need for email ping-pongs. After the documents were generated, the team could route them to the right approvers through automated workflows. Approvers received automated emails and reminders if they didn't take action. This reduced the review process to just a week.
Results
- First-draft creation cut from half a day to 30 minutes.
- Fastest facility agreement drafting in the industry, influencing competitors.
- Increased independence, eliminating automation bottlenecks.