Automated drafting techniques substantially reduce the amount of time required to draft, review and negotiate legal documents. "Document assembly systems have reduced drafting time for some documents by 1000-fold, and produced drafts that were error-free." However, this time saving must be balanced against the time required to build and maintain the automated system.
The ROI calculator to calculates the cost and savings using three different drafting
methods:
(a) custom drafting using the last closest matching document ("Custom Drafting")
(b) drafting from a standard form or document assembly system, requiring manual creation of the forms ("Manual Templates")
(c) drafting from a standard form or document assembly system, using kiiac's automated template generation ("Automated templates")
Adjust the values in the yellow boxes to your circumstances. Press the calculate button to see the overall costs and savings of each approach.
| BASIC INFORMATION | |||
| Number of years for the ROI Analysis | |||
| Number of documents prepared each year | |||
| Average attorney cost per hour | |||
| CUSTOM DRAFTING | MANUAL TEMPLATES | AUTOMATED TEMPLATES | |
| ATTORNEY COST | |||
| Hours drafting and reviewing each document | |||
| Total hours per year | |||
| Annual Cost | |||
| Total Cost | |||
| TEMPLATE COST | Number of different document types (a template is required for each type): | ||
| Template Creation Cost, per template | |||
| Annual Template Maintenance Cost (% of creation cost) | |||
| Total Template Cost (no maint. in year 1) | |||
| HOURS/COST SAVINGS | |||
| Hours Saved | |||
| First Year Savings/(cost) | |||
| Total Savings/(cost) | |||
| Return on Investment (net benefits / total costs) | |||