Request For Information (RFI)
Manual contract generation of critical documents like contracts, letters and reports, can become a bottleneck for progressing business deals. Document templates can be time-consuming to find and outdated – one that doesn’t accurately reflect the current position of the business or is not on brand. Business users will often turn to emails and phone calls to get a ‘quick response’ from the legal team. The legal team responds, but with the same questions each time: “Who is requesting this?”, “What is the purpose?”. Considering the hundreds of documents requested from the legal team, we realise the number of repetitive and tedious hours spent each year when higher impact work should be prioritised instead. Furthermore, after stakeholders have signed the completed document, finalised contracts may not be centralised in a single repository.
How Checkbox Solves Request For Information
|Challenges||How does Checkbox address it?|
The triaging between eligible and ineligible requests is manual and can be a time-drain for the team.
Checkbox’s no code platform uses complex rules and decision-tree logic to empower external parties to self-qualify their eligibility to request for information, without requiring the legal team’s input.
The manual collection of information to process the RFI is time-consuming, often consisting of back-and-forth email chains and ad-hoc phone calls.
Checkbox’s smart, dynamic forms provide a great user experience when capturing information from external parties whilst also creating a centralized place to collect and store information for future reference.
RFIs are sent to business users of different teams where employees are unsure of who to receive approval from and what the procedure is to process the RFI.
Automatically prioritize and determine the risk weighting of the RFI and use workflow automation to ensure the correct approver is assigned to review the request.
The legal team has little visibility over what information is shared, exposing the business to unnecessary risk of data and privacy breaches.
All RFIs are recorded with full audit trails, and insights can be drawn over time, if relevant, with the Checkbox dashboard. Further, any uploaded data or files can be sent to store in other data repository systems, such as SharePoint, Google Drive or iManage. Alternatively, hyperlinked URLs can be accessed from Checkbox audit trails and notifications.
How Does Checkbox Automate This?
1. External parties can initiate a Request for Information
A URL can be embedded on your company website or portal for users to intiate a request.
2. Automatically triage ineligible RFIs to only see requests that need to be actioned
Leverage complex decision-tree logic, built by drag-and-drop, that works effortlessly in the background to determine the eligibility of the RFI.
3. Automatically assess the level of risk of the RFI and notify the correct approver for review
Based on the type of RFI, approval level can be escalated to a more senior member of staff for their review before the information is shared.
4. Upon approval and sharing of information, Checkbox can automatically send uploaded data or files to other third-party systems.
Centralize the information provided and decisions made in existing tools.
5. Track the end-to-end RFI process through the Checkbox dashboard
The real-time status of the RFI and any data or files uploaded can be viewed in a centralized place for auditing or analysis purposes.