Who Uses This Software?

Closing Folders is used by transactional lawyers at law firms of all sizes. We service a wide range of practice groups including corporate, securities, banking, M&A, real estate and tax.


Average Ratings

18 Reviews
  • 5 / 5
    Overall
  • 4.5 / 5
    Ease of Use
  • 5 / 5
    Customer Service

Product Details

  • Starting Price
    $1,000.00/month
  • Pricing Details
    Hybrid On-premise and Hosted deployments available.
  • Deployment
    Cloud, SaaS, Web
  • Training
    Documentation
    Webinars
    Live Online
    In Person
  • Support
    Online
    Business Hours
    24/7 (Live Rep)

Vendor Details

  • Closing Folders
  • www.closingfolders.com
  • Founded 2013
  • Canada

About Closing Folders

Helps lawyers manage legal transactions by automating the collection of signatures and the creation of closing books. Watch the video below to learn more!


Closing Folders Features

  • Access Controls
  • Archiving & Retention
  • Collaboration
  • Contract Management
  • Document Assembly
  • Document Indexing
  • Document Tagging
  • Full Text Search
  • Version Control

Closing Folders Reviews Recently Reviewed!


This product aims to automate a process that should have been automated long ago.

Apr 15, 2018
4/5
Overall
3 / 5
Ease of Use
4 / 5
Features & Functionality
5 / 5
Customer Support
5 / 5
Value for Money
Likelihood to Recommend: 9.0/10 Not
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Pros: A great interface and intuitive workflow means that new users can get comfortable with the product quickly. I do not worry about introducing this product on a deal where the other side has never used it, as I know they will get up the learning curve quickly enough and see the value added.

Cons: There are still kinks to work out in the signatures area: organizing, generating signature packages, importing and associating. Once this process is further refined, significant time will be saved at this step, which will add further value.

Overall: The biggest benefit is to have a centralized 'live' agenda showing status of each item. This is especially helpful in the days and hours leading up to a complex closing.

This software makes closings a lot easier to manage and saves both time and trees!

Apr 12, 2018
5/5
Overall
5 / 5
Ease of Use
4 / 5
Features & Functionality
5 / 5
Customer Support
5 / 5
Value for Money

Pros: User friendly tool. Makes it easy to assign signatories to documents, upload new versions and create new items in the agenda.

Cons: Could use a little tweaking as far as formatting goes: needs more options to reflect the formatting in Word.

Closing folders has streamlined our closing processes making them more organized and efficient.

Apr 09, 2018
5/5
Overall
5 / 5
Ease of Use
5 / 5
Features & Functionality
5 / 5
Customer Support
5 / 5
Value for Money

Pros: It's very user friendly. We can use the software on any transaction even if counsel on the other side is not familiar with the program. They can pick it up quickly. It allows all parties to log in and see what has been completed, signed and finalized. It saves everyone time and makes the closing process more efficient.

Cons: It would be great if edits to documents can be made directly in the program and connected to our law firms document management program.

I have been using Closing Folders for corporate transactions and to prepare packages of documents.

Apr 06, 2018
5/5
Overall
5 / 5
Ease of Use
4 / 5
Features & Functionality
5 / 5
Customer Support
Likelihood to Recommend: 9.0/10 Not
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Pros: Closing Folders has saved me a significant amount of time and effort. My favourite feature is the ability to specify signatories in the transaction and create signature page packages for specific signatories (this used to take hours and now I just click a button and it's done). When I get the signature packages back, Closing Folders is generally pretty good at recognizing to which documents the signature pages belong, so it makes the sorting process easier. Creating a record book of the transaction also happens at the click of a button. Without Closing Folders, preparing the record book was very costly and time-consuming ¿ the client often did not get the record book for weeks after closing because it had to be prepared, scanned and reviewed. Now, I have more confidence in the documents and I am often able to prepare an electronic record book the day of closing if needed. I also appreciate the fact that Closing Folders keeps coming out with new features and improving itself - the program is a lot better now than when I started using it. Although Closing Folders seems to be geared for transactions, I often use it to just create neatly organized packages of documents for other matters.

Cons: Closing Folders (for my uses) does not have many cons. I say that with the caveat that I have not yet tried the feature that enables sharing with opposing counsel (only used it for the side we act for). One minor issue is that, when I make a mistake and assign a signature page or another file I upload to the wrong document, it's hard to reassign the file, so I often end up deleting the miscategorized file and re-uploading it. Also, there should be a link to edit a particular field within the field itself rather than having to click "Edit" at the top tab.

I am a corporate associate and I have used closing folders for several large and small transactions

Apr 04, 2018
5/5
Overall
4 / 5
Ease of Use
4 / 5
Features & Functionality
4 / 5
Customer Support
5 / 5
Value for Money
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Pros: Organizes documents allowing me to easily see what is missing, signature page detection, and allows me to quickly and efficiently create signature pages

Cons: In ability to change the date, cannot download a set of finalized documents until I create record book, can be very particular re: signature names

Great product. Works smoothly and efficiently

Mar 20, 2018
5/5
Overall
5 / 5
Ease of Use
5 / 5
Features & Functionality
5 / 5
Customer Support
5 / 5
Value for Money
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Pros: Well organized. Support team is available for help and responds quickly. Record book preparation is efficient, and tracking status is easy.

Cons: Assigning uploaded documents is somewhat awkward - the suggestions are often not very useful. Could there be a drag and drop direct into the agenda?

Overall: Saved time and energy organizing files and compiling the record book.

Seamless and efficient. User-friendly and self-explanatory and intuitive.

Mar 05, 2018
5/5
Overall
5 / 5
Ease of Use
5 / 5
Features & Functionality
5 / 5
Customer Support
5 / 5
Value for Money
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Pros: Ability to upload files via email and keep track of latest version of documents. Easy feature to compile record book. Organization of signature pages is extremely efficient.

It is helpful to have the ability to add multiple users, giving each user a different role and the ability to view the latest versions of the documents in one place.

Cons: Uploaded signature pages should "move up" with new versions of a previous document. If signature pages have been uploaded for document X and a new version of document X with minor revisions is added, the previously uploaded signature pages should automatically attached to the newer version of the same document.

A new helpful feature would be to have the ability to add dates to documents after the documents have been uploaded. For example, if a document states "This Agreement is entered into on February ______, 2018" it would be useful to have a tool on Closing Folders that allows parties to fill in the blank once a document version has been finalized.

Overall: Saved time on keeping track of multiple documents as every document was stored in a single place. This made is easier to refer to the documents knowing the latest version was available.

Quick to use and very user-friendly

Feb 04, 2018
4/5
Overall
4 / 5
Ease of Use
4 / 5
Features & Functionality
5 / 5
Customer Support
5 / 5
Value for Money

Pros: Available remotely, few functions, so its easy to get acquainted or re-acquainted with it. Its fairly intuitive, and the ability to create a whole closing book is phenomenal.

Cons: The buttons don't have good explanations (e.g. what does "demote" mean?). I also ran into an issue last year where my documents and the signature pages did not match due to a font error.

Capterra-loader

I operate in a very lean environment and with clients worried about cost this is value for money

Jan 25, 2018
5/5
Overall
5 / 5
Ease of Use
5 / 5
Features & Functionality
5 / 5
Customer Support
5 / 5
Value for Money

Pros: I enjoy the ease of use and more importantly the client acceptance. Its professional interface reflects well on my firm

Overall, great.

Jan 25, 2018
4/5
Overall
4 / 5
Ease of Use
4 / 5
Features & Functionality
5 / 5
Customer Support
Likelihood to Recommend: 9.0/10 Not
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Pros: The fact that it keeps all of the transaction documents readily accessible. Customer services is great as well.

Cons: Managing signatories when uploading new versions of documents can be challenging. I would like to be able to compile a closing set without having to finalize each document. I would also like to be able to delete items even if I was not the person to upload it. We typically just keep Closing Folders internal so there is no risk of opposing counsel deleting things. But if my assistant uploads something and then goes home, I would like to be able to delete it if needed.

Closing Folders has built a very useful set of features around a real-time, dynamic closing agenda.

Jan 11, 2018
5/5
Overall
5 / 5
Ease of Use
4 / 5
Features & Functionality
5 / 5
Customer Support
Likelihood to Recommend: 10.0/10 Not
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Pros: My two favourite features are (1) the two efficient processes for creating signing packages, distributing them and compiling the signed pages, and (2) the ease and speed with which electronic closing books can be made at the end of a transaction. Whether one uses the PDF or the DocuSign method for signing packages, it is so much easier to have the software pull the relevant pages and package them up for each signatory than to do it manually, and I find the Closing Folders integration with DocuSign is simpler and faster to use than using DocuSign alone. Respecting closing books, there is no excuse now for piles of paper to languish in a corner waiting to be compiled into a book. If all the closing documents have been diligently added to the closing agenda as the deal progresses, the agenda can be turned into the index and the book created very quickly. Post-closing matters can be dealt with later, and the book regenerated then. Closing Folders worked with our internal closing book people to make it possible to send the URL of the electronic closing book directly to them to produce the required copies of the books. The people at Closing Folders have been very responsive to our needs, and the support has been amazing.

Cons: Our instance of Closing Folders is hosted on our premises, and so sometimes we have glitches with the way it interacts with our other applications. The support we have received from Closing Folders in dealing with these glitches has been terrific, though.

Capterra-loader

Closing Folders makes closing deal drastically easier.

Dec 27, 2017
5/5
Overall
5 / 5
Ease of Use
5 / 5
Features & Functionality
5 / 5
Customer Support
5 / 5
Value for Money
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Pros: Closing Folders keeps me organized and simplifies the deal closing process. It allows me to keep large teams informed and updated as well as prepare signature packages, review signed documents, compile final documents and prepare record books significantly faster than completing these tasks in other ways.

Overall: Adoption of the software has been slow. If more people used it, the advantages would be greater. I recognize that it is still early in the introduction of the software.

Closing Folders has really helped us navigate one of the more difficult client files we have

Dec 20, 2017
5/5
Overall
5 / 5
Ease of Use
5 / 5
Features & Functionality
5 / 5
Customer Support
5 / 5
Value for Money
Likelihood to Recommend: 10.0/10 Not
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Pros: The ability to have a snapshot of years of transactions - in our most pressing file, we have needed to update amendment after amendment on varying loans. Closing Folders has made this possible

Cons: An app would be great! Otherwise, my only complaint is that this is not used more often within our industry.

I love closing folders! It saves so much time, paper and it is ultimate organizational tool.

Dec 13, 2017
5/5
Overall
5 / 5
Ease of Use
4 / 5
Features & Functionality
4 / 5
Customer Support
5 / 5
Value for Money

Pros: I love how you can have all your ongoing files all at one place. I love that it is so easy to use. It is a life saver in compiling documents and keeping you organized. Reduces your need to scan documents and compile a reporting. Closing folders takes care of that for you!

Cons: A couple of things I don't like is that if another user uploaded a document, you cannot delete it and that user must delete that version. I think that the function should be able to be used by all who are working on the file especially if the person is away or no longer at the firm. Second thing is that sometimes when you try to email yourself the docs it does not work. This is usually the case with a large set of documents.

Has made day-to-day tracking on files much easier and creating indexes are a HUGE time saver.

Dec 12, 2017
4/5
Overall
4 / 5
Ease of Use
4 / 5
Features & Functionality
5 / 5
Customer Support
4 / 5
Value for Money
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Pros: Record book creating, how easy it is to duplicate closing agendas and the ability to upload a closing agenda. Once again, a lot of great features that saves us a lot of time.

Cons: Sometimes it is hard to navigate, would like a feature where we can fill in dates on documents, or re-locate a document that was filed to the wrong closing agenda item.

Overall: Saves time, easy and quick to use, can access from anywhere. I love the closing book feature, used to spend a lot of time creating indexes, linking, etc. this really cuts down a lot of the work.

Closing Folders has really changed the way I am organized and prepared for my closings.

Dec 12, 2017
5/5
Overall
5 / 5
Ease of Use
5 / 5
Features & Functionality
5 / 5
Customer Support
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Pros: My favourite applications are signature tracking, ease of uploading and the smart technology in terms of recognizing documents. I love the that I can create closing books at the click of a button.

Cons: That you cannot reassign documents once they have been assigned. You have to reupload. You can't make any mistakes!

Overall: Easier closings.

Love this software! It is an organizing dream. Transactions are more efficient with less mistakes.

Dec 12, 2017
5/5
Overall
4 / 5
Ease of Use
4 / 5
Features & Functionality
5 / 5
Customer Support
4 / 5
Value for Money
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Pros: The reporting process has saved hours of work time. Our team is more efficient and closing transactions are easier and more organized.

Cons: I would love to see an additional tab level . In addition, I find at time that I need to refresh in order to update other user changes.

Overall: Efficiency and fewer mistakes

Absolutely essential to my legal practice.

Dec 12, 2017
5/5
Overall
5 / 5
Ease of Use
5 / 5
Features & Functionality
5 / 5
Customer Support
5 / 5
Value for Money
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Pros: I love everything that can be dragged and dropped anywhere, in any form. I love being able to move files around and keep everything organized the way I like - not just in alphabetical order. I love the signature function, too - it keeps us on the ball for clients who have a bunch of outstanding documents.

Cons: I can only drag and drop items through the "Files" -> "Upload" path, and then link it to the applicable item. I would love to be able to drag and drop files right onto the Closing Folders item in the agenda, and have it pick it up.