What is a closing binder? Using our electronic closing books
So you’ve collected signatures for all your transaction documents and closed your deal on dealcloser—but we all know that the deal management process doesn’t stop there. You’ll need to wrap up your legal transaction with an organized collection of the final, executed version of every document used throughout the deal. Closing binders, record books, deal bibles—it goes by many names. But at dealcloser, we call it our 1-click closing books.
Like all other steps in the transaction management process, there is an increased use of legal technology solutions for closing binders and document production. Long gone are the days of manually printing, scanning, organizing and assembling project documents into big, clunky binders. All of that can now be done with just the click of a button.
“Ten years ago we would’ve had someone assembling closing books. Someone would be solely copying the documents that were signed and binding them and sending them out in fancy closing binders.”
—Todd Strang, KMSC Law LLP
Now, what does this mean for your firm? We can’t stress this enough—it will give you major time and cost savings! Manually producing closing binders required spending countless hours on non-billable administrative tasks. Now, we automate that process for you so you can spend time on other revenue-generating activities.
“Using dealcloser enables a “paperlite” office, saving Tax Law LLP over $3,500 in paper and ink toner alone.”
—Roberta Meivier, Tax Law LLP
Physical closing books require a lot (and we mean A LOT) of storage space. Instead, save space and cut costs by managing easy PDF files on dealcloser. With our interactive numbered closing binder index, simply jump to any document at any time right on the screen in front of you (and your clients can too when you send them a copy of the closing book). For Roberta Meivier from Tax Law, using dealcloser shortened their reporting time and cloud storage in Canada.
What’s more? You can also save courier fees and eliminate delivery time by sending dealcloser generated closing books to all parties involved on the deal. Once all project documents have been signed, instantly export your closing book right from dealcloser. From there, you will be able to download and distribute the book digitally. By the way, it’s fully searchable and there are no crooked pages or artifacts caused by scanning documents!
Our closing books aren’t the only feature that will save you time, administrative costs, paper, and storage space—but it is a feature that our clients love most about us. Schedule a demo today to see all of the magic for yourself!