Workshare unveils Transact to simplify transaction management

NEW YORK - Feb. 3, 2015 - PRLog -- Outdated and inefficient methods for executing legal transactions are putting pressure on lawyers and costing firms millions each year in write-offs. To automate and improve legal transactions, Workshare has launched Transact, an application designed specifically to help groups of transactional lawyers organize and manage legal deals more effectively.

A recent survey reported that 94% of U.S. law firms believe that a focus on improved practice efficiency will remain a permanent goal. To ensure efficiency, Transact recreates the documents checklist on screen to provide a structured framework for file exchange by deal participants. Transact further streamlines legal transactions by supporting all related document management tasks, including versioning of drafts, exchanging signature pages, and creating PDF bible versions once the deal has closed – saving huge amounts of administration time.

Ben Ridgway, Transact Product Manager and former Clifford Chance lawyer commented, “Lawyers often rely on unproductive email exchanges to manage legal transactions, leading to hours of unbillable time. Workshare Transact is unique in that it ensures all legal transactions are structured and organized from start to finish. The deal status is apparent to all parties and the need to search for files is greatly reduced. The closing of a deal is straightforward, as lawyers have an ordered collection of signature pages, and can automate bibling to be completed on the same day.”

Anthony Foy, Workshare CEO commented, “With a deep heritage in the legal sector, Workshare recognizes the huge opportunity lawyers have to address the inherent inefficiencies associated with legal transactions. With Transact, lawyers can remove the headache of trying to reduce deal admin, and can get back to the practice of law.”

Resources

• Workshare is exhibiting Transact, together with Professional 9, an application that simplifies document review and legal efficiency, at the 2015 LegalTech conference, February 3-5, booth 334 in New York City, NY. If you are a member of the press or analyst community and interested in meeting with Workshare at the show, please contact workshare@marchpr.com or by phone at +1 617.960.8895.

• Learn more about Workshare and why it is the only cloud-enabled application designed for the enterprise by visiting http://www.workshare.com/

• Connect with Workshare on its blog, and on Twitter, LinkedIn and Facebook

ABOUT WORKSHARE

Workshare is a leading provider of secure enterprise file sharing and collaboration applications. Workshare allows individuals to easily create, share, and manage high-value content anywhere, on any device. Workshare enhances the efficiency of the collaborative process by enabling content owners to accurately track and compare changes from contributors simultaneously. Workshare also reduces the commercial risk posed by inadvertently sharing confidential or sensitive documents. More than 2 million professionals in 70 countries use Workshare’s award-winning desktop, mobile, tablet, and online applications. For more information visit http://www.workshare.com or follow Workshare @ http://www.twitter.com/workshare.

Workshare Press Contact

Workshare North America Press Contacts

Sarah King / Hanah Johnson

March Communications

T: +1 617 960 8895 / + 1 617 960 8892

E: Workshare@MarchPR.com