Cirio, one of Sweden’s leading business law firms, has become the first Swedish firm to implement Workshare Transact for their online transaction management, we can reveal.
Workshare Transact runs deal checklists through a secure online workspace, allowing all parties to access them, removing the pain of multiple e-mails. The checklist provides online access to the latest version of all transaction documents and simplifies the process of collecting conditions precedent and reviewing progress. Participants can connect to the workspace at any time, which makes the management of cross-border transactions, over several time zones, much smoother.
It has been gaining traction with some of the largest international law firms, and as we first revealed in July last year, forms part of Clifford Chance’s ‘tech toolkit’, which in 2018 was reduced from 25 to three. Fieldfisher was an early adopter led by corporate partner Tim Bird.
“When choosing Workshare Transact, we looked at the needs of our transactional lawyers and our existing technology to assess where the gaps were” said Dennis Luttropp Hansson, head of banking & finance at Cirio. “We then looked at technology that would enable efficient collaboration between all parties. Now we can securely control and organise deal documents, spending less time on low-value work while bringing more value to our clients.”
Newly-appointed Workshare CEO Michael Garrett said: “Our mission is to build a simpler, more collaborative and efficient process for our customers and their counterparties at every step of the deal process. The ability to collaborate seamlessly, securely and quickly, is fundamental to improving productivity in an increasingly competitive environment.”