At Acevedo Belt, P.A., we use leading legal technology software, including document automation, document management, client portals, and transaction management software as part of our continuing efforts to provide our clients with an exceptional experience.
The Conventional Law Firm Model. Our experience working as business lawyers in large law firms made it clear to us that traditional law firm practices and profits generally are dependent on a labor intensive model in which billable hours are paramount. As a result, some combination of senior partners, young partners, senior associates, junior associates, paralegals and legal assistants may become involved with a client’s particular matter.
This labor intensive model works well for the large law firm, since large firms generally bill on an hourly basis. But, for the client, the result can be much different, including unknown and higher legal costs, a financial disincentive for lawyers to be efficient, slow turnaround, and lack of clarity to the client on the status of their matter.
How Our Technology Makes Us Different. At Acevedo Belt, P.A., our model embraces the use of technology to assist us in realizing four goals: (a) do more with less; (b) do it better; (c) do it faster; and (d) do it with greater transparency and client collaboration. Modern technology also allows us to embrace alternative fee arrangements, including fixed fees, as appropriate.
Some of the technology that we use includes:
- Document Automation. We have spent significant resources to automate the generation of complex legal documents, which we believe improves speed of delivery, diminishes the need for junior lawyers and paralegals and reduces the likelihood of errors. We utilize Contract Express by Thomson Reuters as our document automation software. We also use Thomson Reuters Practical Law, which provides a robust national database of documents used in complex transactions as well as updates on current market trends.
- Document Management; Client Portal. We utilize NetDocuments as our document and email management, cloud storage, collaboration, and document and email security software. NetDocument is utilized by leading small and large firms around the world to organize, manage, share, and secure emails and documents. PDFs stored in the system are automatically optically character read and become part of our searchable data base. NetDocuments is also ISO-27001 and 27018, GDPR, ITAR, HIPAA, SOC-2+ compliant. NetDocuments provides access to one of the firm’s four\ existing client portal options. Other portals are available through our Litera Transact site, Clio practice management site and Microsoft Sharepoint.
- Transaction and Project Management. We utilize a variety of software to assist us with transaction and project management as well as providing active client portals. This software includes Litera Transact, which gives our clients a portal with accessible due diligence data rooms, transaction checklists tied to the latest versions of relevant documents and task lists of responsible parties and pending items. The closing process is enhanced by individual signature pages with QR codes (that can be signed manually or with DocuSign) that are automatically distributed to respective parties for signing. Litera Transact helps Acevedo Belt, P.A. “do more, with less.”
- Artificial Intelligence Tools. We use a variety of AI tools that enhance the quality of work and speed time of project completion.
- Document Data Libraries. We subscribe to advanced document data services, like Thomson Reuters Practical Law, which provide us with a database of current legal documents related to complex transactions, updates on changes in the law and a variety of surveys of current legal market trends.
- Cloud-Based Law Firm, which has the following advantages:
- Better security
- Greater access to current legal software and updates to software
- Improved integration between software applications
- Reduced IT expenditures and no network or server issues
- Improved reliability as the result of less “downtime”
- Complete mobility for our lawyers, including working out of client offices when needed
- 24/7 access for our clients to their documents from anywhere via multiple mirrored data storage sites