Clifford Chance
Reducing risk and measuring workload through CC Dr@ft
A full-service Dutch bank decided to focus on reducing risk and cost in their loan documentation by improving human document drafting errors and increasing efficiency in the drafting process. After an extensive review of the automation tools on the market, the team chose CC Dr@ft as a solution.
Here is a look at how this came about and what processes were involved.
CASE STUDY | CC DR@FT
The challenge
A full-service Dutch bank decided to focus on reducing risk and cost in their loan documentation by improving human document drafting errors and increasing efficiency in the drafting process. Two employees in the credit and security documentation department of this Dutch bank were set the task of finding a solution.
Realising that technology might provide the answer, they approached us and other technology providers to discuss solutions. After an extensive review of the automation tools on the market, the team chose CC Dr@ft as their solution.
The two employees explained that CC Dr@ft stood out from the crowd due to the "personal attention and quality of support" offered by team. The CC Dr@ft team are "all-rounders" complemented by "their legal knowledge, document automation abilities, and collaborative working style".
The solution
CC Dr@ft was rolled out to three teams at the Dutch bank to enable them to draft credit documentation and ancillary documentation, such as offer letters and security documentation seamlessly. With a Dutch HQ as you'd expect there was also the need to automate complex legal documents in both Dutch and English.
Key to the success of any new technology or process, is the training and onboarding of the users. Prior to the launch date, we conducted face to face training with the teams to ensure they understood how to work with and optimise CC Dr@ft to improve existing document processes.
The two main contacts noted that the "teams were fully prepared for when we took the Word templates away from them and asked them to adapt to using CC Dr@ft". To help the teams work iteratively and provide feedback, the consultants built an internal tool to 'ticket' suggestions, which were then filtered and fed back to the CC Dr@ft team.
One of the successes of CC Dr@ft for the Dutch bank is the ongoing proactive support of the team. When requests arise - which includes support for day to day, technical, and account questions - the team is "lightning fast" to respond.
The result
40 of the bank's contracting employees now use CC Dr@ft for their day to day work. Overall the success of CC Dr@ft for the bank is seen in the three teams' broad use of the technology and enthusiasm for extending its use: "we want to use the solution more".
CC Dr@ft has achieved both key objectives:
The broad use of CC Dr@ft across the teams ensures all users are drafting documents from the correct templates, using standardised inputs. This massively reduces the risk of human error.
The time it takes to create a substantial first draft of the credit and ancillary documentation has reduced significantly allowing the team to focus on work where they add value.
The bank is now looking forward to expanding the partnership with CCAS and exploring ways in which we can make further efficiencies with CC Dr@ft.
