A low-risk approach to Automation.

Start small, iterate and build upwards in complexity.

Innovation can be risky, especially when the stakes are high. So it’s not surprising that businesses, especially those in risk-averse industries, such as finance and law, are often slow to digitise tasks that have traditionally been completed by humans. Finance and law are heavily regulated, adding an additional hurdle.

Resistance to innovation doesn’t only apply to risk-averse industries. Small and medium enterprises (SMEs), don’t often have the time nor the capital to invest in something that may, or may not work.

 

Will adopting new technology be worth the cost?

Change can carry high stakes. It is often difficult to find solutions that actually live up to their claims, a reality that is sometimes not apparent until a technology has been implemented, sometimes at significant cost. Add issues of compatibility, client privacy and inability to calculate return-on-investment (ROI) for cutting edge solutions and it’s no wonder that SMEs are weary of new technology.

The pressure to stay competitive can override resistance to change. For example, standardising processes and procedures is one way to streamline service and increase efficiency. This solution may streamline processes but it still requires a high level of staff time, the most expensive asset of any business.

It’s generally accepted that service-oriented businesses need to innovate to stay competitive, but how do you do this within a risk-averse landscape?

 

Reduce the risk of innovation by taking incremental steps

Digital transformation is hailed as the savior of industry, integrating cutting edge, frequently changing technology, such as artificial intelligence (AI) into a new world of business practices. This often comes with a high price tag and high risk of disruption.

What if you don’t need transformation? What if your challenges could be addressed with a few incremental steps that don’t disrupt your business but make a big difference? Technology that allows you to make small changes is vital to this journey.

 

What can be automated?

The first step of any change, large or small, is to evaluate what part of your processes can be automated. Even the most personalised service will have repetitive elements or elements in common with other services you provide. That’s a prime spot for automation.

When you find this sweet spot, test it. Your test may run smoothly, it may run into a few hurdles  or it may reveal something else you need to. This is part of innovation and a good argument for starting small.

 

Iterate rapidly

When your test automation works, repeat it in the same place and find other processes this automation will work in. Replicating these simple business operations automations, or using them as a base for more complex action is a quick and easy way to integrate automation into nearly every business process. It’s a low-risk way to achieve quick wins that can improve productivity and customer service, boosting staff motivation as well as the appeal of the company to prospective customers and employees alike.

 

No code cloud-based service delivers big change with little disruption

At AUTTO, we have built the technology to make it quick and easy to automate repetitive tasks. Our no-code visual editor makes it easy to create small changes that have a big impact with drag and drop workflows.

We remove the cost of technology development with our cloud-based service so you can focus on providing personalised service while routine tasks are taken care of. Automate as little, or as much as you feel comfortable with while enjoying the benefits of transformation with little of the cost and risk.

The pressure is on for UK law firms to use LawTech.

The legal sector faces an enormous challenge in the way it navigates the change needed for client satisfaction and success. Changing attitudes and expectations around customer service, advancements in technology and the shifting legal landscape place new pressures on the client/lawyer relationship. The pressure is on to integrate technology into the practice of law.

Consumers want easy access and immediate results with an expectation of the type of innovation they see in other areas of business while, at the same time, the UK government continues to expand its interpretation of UK legislation around digital assets, delivery and evidence.

There is no arguing that digital has changed the way we help clients interact with the law. This is further complicated by the rapid acceleration of technology used in both business and law settings. As technology and client demands change, the overarching challenge to law firms is to navigate how technology is used to provide services while, at the same time,  protecting sensitive client data.

The LawTech Delivery Panel (LTDP) is an industry-led, government-backed initiative, established to support the transformation of the UK legal sector through technology. The LTDP is focused on identifying and addressing the most pressing barriers as well as catalysts for growth of the legal sector.

In order to do this LawTech Delivery Panel created a UK Jurisdiction Taskforce (UKJT), which carried out a consultation to identify the key questions that needed to be answered around cryptoassets and smart contracts – two particularly challenging aspects of using tech in law.

The objective of the consultation was to provide a solid foundation for what the LTDP’s report calls : “market confidence and a degree of legal certainty.” The taskforce addressed this by considering a number of legal questions concerning areas of perceived uncertainty.

Following the consultation, November 2019, UKJT published a legal statement that concluded: “As a matter of English law, cryptoassets have all the legal characteristics of property and as such, should be treated in principle as property.” The Legal Statement describes five key characteristics of a cryptoasset: intangibility, cryptographic authentication, use of a distributed transaction ledger, decentralisation and rule by consensus.

The Legal Statement further notes that one of the fundamental aspects of property is “ownership”, and that cryptoassets are capable of being owned. Whether English law would treat a particular cryptoasset as property ultimately depends on the nature of the asset, the rules of the system in which it exists and the purpose for which the question is asked.

UKJT’s statement also looked at smart contracts, addressing the question: “‘In what circumstances is a smart contract capable of giving rise to binding legal obligations, enforceable in accordance with its terms?”

The report was described by Sir Geoffrey Vos, the Chancellor of the High Court, and member of UKJT, as a “watershed” and something that no other jurisdiction has attempted.

British technology firm Tech Nation was appointed to deliver on the objectives outlined in the report by deploying funding of £2 million allocated by the Ministry of Justice to help fuel the growth of LawTech. Jenifer Swallow, former General Counsel at several leading UK tech companies and director of the LawTech Delivery Panel, is leading the executive delivery.

Swallow comments: “The worldwide smart contract market is expected to reach $300m by 2023 and the World Economic Forum predicts 10% of global GDP will be stored on the blockchain by 2027. It is great to see the adaptability of our common law system to fast-changing technology, demonstrated in this landmark legal statement from the UKJT.”

This is a time of unprecedented challenge and opportunity for the field of law, an opportunity to expand beyond the traditional concepts of law and reap the benefits of incorporating technology into the practice of law be that improving productivity, offering more individualised attention to clients, streamlining practices, increasing profit, promoting access to justice or all of the above.

If you would like advice on how to incorporate digital business automation into your firm, feel free to contact us at AUTTO.

Progressive Companies Recognized by 360Quadrants in the Legal AI Software Start-ups Quadrant

CISION 

CHICAGO, Aug. 8, 2019 /PRNewswire/ — Corporate legal departments and law firms around the world have begun using legal AI technology to streamline their processes. Among other functions, AI-powered solutions gather and analyze legal information and predict future outcomes. Some other applications of Legal AI software include e-discovery, legal research, document review, due diligence, Intellectual Property (IP) management, compliance, case prediction, contract lifecycle management, divorce automation, e-billing, and knowledge management.

360Quadrants, the most granular comparison platform, has released a startup quadrant on Legal AI Software to help businesses make quicker and more informed decisions. This quadrant has placed PracticeLeague Legaltech, Luminance Technologies and Ross Intelligence in the progressive company space. 360Quadrants are generated post analysis of the product portfolios and business strategies of all companies in a particular space. Quadrants are updated every three months based on market and regional analyses and developments in the Legal AI Software segment.

Legal AI Software Quadrant Highlights

360Quadrants covers 25 startup companies in the Legal AI Software space and places them in a quadrant based on their quality, reliability, and business outcome. 22 of these companies are categorized as Progressive Companies, Responsive Companies, Dynamic Companies, and Starting Blocks.

360Quadrants recognizes PracticeLeague, Luminance Technologies, Leverton and Ross Intelligence as Progressive Companies; Lawpavilion as a Responsive Company; LegalRobot, Pensieve and Autto as Starting Blocks; and BrightFlag and Nalandar Technology as Dynamic Companies. The 360Quadrants platform provides the most granular comparisons of Legal AI Software startup vendors.

View full article here

 

UK startup Autto raises $1m funding

From UK Tech News.

London-based Autto, a simplified automation provider, has announced that it has raised $1m in funding in its second significant round since the company launched in February 2018.

The finance has been raised from existing angel investors, a UK government grant, and new investment from Tangible, a corporate legal platform in the US.

Autto offers simplified automation capabilities via its SaaS-based platform. Organisations use Autto to create workflows to automate routine tasks, enabling staff to spend more time doing the jobs that they love. It is targeted at professional sector organisations who are keen to embrace emerging technologies but struggle with the cost and complexity of current high-end solutions.

New investment from Tangible, and private investment from Tangible’s founders was secured after the company trialled Autto’s solution on existing Fortune 500 clients with impressive results. Using Autto, Tangible will be building out workflows in core areas and will make them available via self-service or customised service, removing the need for customers to build their own workflows and increasing the adoption rate.

CEO and co-founder Ian Gosling said: “This funding announcement is a huge milestone in Autto’s journey. It signifies a growing appetite for our solution and an affirmation of the need for simple-to-implement technologies in the workplace.

Automation provider Autto has raised $1m in funding through a combination of UK government grant funds, angel investment and participation from UK legal platform Tangible.

The funding will be used to evolve the London firm’s SaaS platform, which is designed to deliver simple automation.

The funds will also fuel further research, in partnership with the University of Exeter, into the adoption of ‘lawtech’.

Autto’s technology is designed to automate routine tasks, enabling staff, and is targeted at professional sector organisations keen to embrace emerging technologies.

Ian Gosling, CEO and co-founder of Autto said, “This funding announcement is a huge milestone in Autto’s journey. It signifies a growing appetite for our solution and an affirmation of the need for simple-to-implement technologies in the workplace.

“We have great ambitions for the company and this funding will help us to expand our capabilities and help our customers on their automation journeys.”

Robert Reynolds, Founder & CEO at Tangible added: “Autto provides a simple yet effective solution to the needs of our internal and external clients.”

Co-founders Ian Gosling, Max Cole and Krisztián Kerék have sustained interest from angel investors led by serial technology angel, Sean Phelan, demonstrating a continued confidence in the success of Autto.

New investment from Tangible was secured after the company trialled Autto’s solution on existing Fortune 500 clients.

“We’ve seen first-hand the benefits derived from the creation of its workflows, and we wanted to play a part in its future development.”

“Autto provides organisations with a dynamic platform to automate the necessary to enable the exceptional. To drive adoption, Tangible will be building out a library of workflows (what we call Catalysts) and launching them into the market in the coming months in partnership with Autto.

“We are excited about the possibilities of working with Autto to help drive the next stage of its journey.”

View full article here

 

NEW WEBINAR!

An Intro To AUTTO

How to Automate a Complex Process without Writing a Line of Code

  • Date: 31 March 2022
  • Time 14:00 BST
  • Host: Ian Gosling, Founder of AUTTO

Hi there,

AUTTO is a no-codebusiness and document automation platform. No-code means you can build tailor-made automated processes without having to be a developer.

get your free quote

Autto needs the contact information you provide to us to contact you about our products and services. You may unsubscribe from these communications at any time. For information on how to unsubscribe, as well as our privacy practices and commitment to protecting your privacy, please review our Privacy Policy.