In-House Tip: Standardise Templates

Are your contracts consistent, clear, and easy to use across the business? 

If you are familiar with one of your templates – are you then familiar with all of them?

If not, then you have allowed “built in inefficiencies” within your legal function that costs your Business quantifiable time and cost.

Here’s why standardised templates are essential:

◼️Time Savings: Reusing pre-approved templates reduces drafting time and legal review cycles.

◼️Consistency: Standard templates ensure consistent terms, reducing risk and confusion.

◼️Faster Turnaround: Business teams can initiate contracts quickly without reinventing the wheel.

◼️Reduced Errors: Fewer manual inputs mean fewer mistakes.

◼️Risk Management: Standard clauses maintain the company’s preferred risk profile.

◼️Scalability: As the company grows, templates provide a scalable contracting solution.

◼️Legal Focus: Lawyers can focus on complex matters rather than repetitive drafting.

◼️Improved Compliance: Templates ensure regulatory and internal policy compliance.

◼️Easier Training: New hires get up to speed faster with familiar contract structures. Support tools can be utilised across entire libraries.

◼️Business Empowerment: Non-legal teams can handle straightforward contracts with minimal legal intervention.

If you want to optimise your contracting function—start with standardisation.

On average standardising your templates brings an instant 30-45% efficiency improvement. Multiply that over the number of contracts you do per year?

Then ask your Business if they would like you to deliver that savings to the Business. 

Conclusion

Remember: The best in-house teams build efficiency into every contract.