Redefining Deal Point Databases for Efficiency and Intelligence
It’s a challenge that many firms and legal professionals face: An abundance of data that could be used to drive client success, but instead, it’s dispersed across various silos and manual business systems. Lacking one source of truth and contextual information, the data is rendered meaningless for effective utilization. And that’s where Dragon comes in to save the day.
A first-of-its-kind Gen AI tool from Litera, Dragon gives the full picture of a law firm’s deal point knowledge and competitor data. It goes beyond traditional deal point databases, providing a comprehensive view of the deal, including the involvement of lawyers and the context surrounding agreements. In our last blog, we looked at the powerful benefits Dragon brings to law firms of all sizes. By tapping into the power of Gen AI, you are liberated with direct access to data to streamline deal negotiations and aggregate information for archival records. Read the full blog here. Now, let’s look at the value Dragon delivers in greater detail.
The Full Picture of Your Deal Point Data
Whether you have a current deal point database or not, Dragon seamlessly integrates with your systems to translate your firm’s experience into tangible value for clients. Dragon's near real-time capabilities ensure accuracy and up-to-date deal points, surpassing the time-consuming nature of traditional methods. The AI-driven approach underscores your firm’s bottom line, as tasks that take hours manually can be accomplished in minutes.
Dragon Benefits At-a-Glance
Reduce the Cost of Deal Point Databases:
- Maintaining a deal-point database can be exorbitantly costly in terms of a financial investment, lawyer time, and resourcing expertise. Dragon addresses this challenge by offering a cost-effective solution, mirroring the capabilities of heavily resourced law firms without the hefty expense.
Negotiation Intelligence:
- Dragon empowers strategic negotiations by providing solid data, offering insights into past negotiation patterns, and suggesting potential moves. A comparison view enhances decision-making during negotiations.
Know Opposing Counsel:
- Dragon equips legal professionals with insights into opposing counsel's past agreements, enabling better negotiation preparation. Arrive at the negotiation table with the insights you need to make effective decisions.
Precedent Locations:
- Traditional deal databases are often time-consuming and may not provide the most current data. Queries in a traditional DMS only give your search results, not comprehensive answers. Dragon allows instant access to deal precedents, streamlining the process and ensuring up-to-date information.
Beyond your legal teams, Dragon empowers marketing and associates to unlock invaluable insights from your data.
Marketing
- Marketing the firm's experience data with clients and prospects can be challenging without concrete data. Dragon addresses this, allowing firms to share market reports and showcase their expertise.
Associate Training
- Associates often face challenges in learning negotiation skills. Dragon offers a unique training opportunity by providing insights into past deals, facilitating a learning process that combines efficiency with accuracy.
Dragon reduces the financial burden of maintaining deal point databases and elevates the intelligence and efficiency processes across your teams. Gain confidence in your negotiations by tapping into accurate, comprehensive data to save time and resources and to drive better business outcomes.
Dragon revolutionizes the landscape of deal point management, offering unparalleled insights and efficiency to legal professionals. By harnessing the power of GenAI, Dragon ensures that your firm navigates negotiations with confidence and precision.
Learn more about Foundation Dragon here!
