NetDocuments introduces SetBuilder to simplify document organization for transactional closings and more
Acquisition of Chapman and Cutler LLP’s Closing Room for deal management and closing-bindergeneration now fully integrated within NetDocuments platform
NetDocuments, the leading, secure cloud-based content services platform, today introduced SetBuilder, the fully-integrated NetDocuments application based on the acquisition of Chapman and Cutler’s Closing Room solution.
NetDocuments SetBuilder provides users an easy way to combine and organize sets of documents in one location entirely within the secure NetDocuments infrastructure. Originally developed at Chapman and Cutler to coordinate closings, automate manual closing binder processes and drastically accelerate the time-consuming and manual closing process, NetDocuments sees SetBuilder solving these challenges, and many others, for organizations across the globe.
“This technology completely transformed the way our firm manages transactions and coordinates closings. With the integration with NetDocuments complete, we anticipate a similar experience by other NetDocuments customers,” said Eric Wood, Chapman and Cutler’s Practice Innovations and Technology Partner and Closing Room project leader. According to Wood, the firm has leveraged the application on over 6500 closings since launching two-and-a-half years ago, resulting in enormous efficiency gains and saving up to $500-1,500 in hard costs per transaction. Since this work often cannot be billed to clients, SetBuilder’s automated approach generates a significant ROI that organizations can utilize as a value-add for their clients.
SetBuilder also extends beyond closing transactions, offering a dynamic solution for organizing documents into “sets” for a variety of projects. “SetBuilder lets users design a curated, ordered list of documents, which is a natural way that lawyers prepare work-product for a specific situation,” said Dan Hauck, Vice President of Product and User Experience and a former practicing lawyer. “Whether you are preparing a binder of exhibits for deposition, pulling together key documents for a client meeting, or building practice specific resources for knowledge management, SetBuilder’s ability to quickly and easily organize a disparate array of files into a single set is unparalleled.”
Using SetBuilder, lawyers and other users can formulate a set of documents organized in outline form. In the case of a closing, this outline replaces the traditional “closing checklist.” Documents can be added directly to the set, or a placeholder can be inserted for documents that need to be added later. The outline’s numbering scheme can be highly customized to accommodate a wide variety of practice group needs. All of the content – including the set itself – is secured by NetDocuments platform and can be exported into a single PDF for easy, digital distribution.
“We hope to inspire other collaborative efforts and show how other customers and technology partners can leverage the power of the NetDocuments platform,” said Alvin Tedjamulia, NetDocuments, CTO. “SetBuilder enables a clear identification of the final set of documents for a specific matter, setting them not only apart from the rest of the work-in-process files, but also setting them as primary search targets and for potential publication into the knowledge management system.”
“As promised during the acquisition announcement at our ndElevate partner and customer conference last November, we are excited to introduce SetBuilder to the entire NetDocuments customer base,” said Josh Baxter, NetDocuments CEO. “SetBuilder demonstrates the unlimited possibilities of our platform to enhance business operations and provide peace of mind that your information is both organized and secure.”
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