The solutions to Finance and legal problems are the hardest to arrive at in a country like India. In majority of cases, red tapism or forgery takes the lead and resultantly, justice is either delayed or denied. Gauravkumar Kate was working as a Product Development manager of the LodhaGroup in 2015 when he was exposed to various legal complications related to his personal life. Problems like Rent Agreement registration, marriage registration, name registration and others became a nightmare for him and he decided to venture into the legal documentation of consumers. He named it LegalDocs. LegalDocs provides every possible Finance and legal aid required for SMEs. “We understood that SMEs face more problems on the grounds of Accounting and Legal works which are crucial. So we started helping SMEs through our professional marketplace”, says Gaurav.
Challenges and their Solutions
LegalDocs has very efficiently detected the numerous ongoing
problems pertaining to the legal services industry and has promptly acted according to those. The primary challenge in this sector is to find out reputed and expert professional. “Infringement by agents is commonplace in this industry”,avers Gaurav.
"LegalDocs is focused on helping 60 million Indian SMEs & help in India’s growth"
Standardisation of prices stands as the second hazard of the industry. An exceeding number of professionals tend to demand double the money for half the work. Here the customer is also in a fix because of his inability to have a substitute lawyer midway. Gaurav asserts,“LegalDocs is controlled marketplace where every professional is verified, prices of work are predefined as per scope and quantum of work. This solves the problem of discovery & right pricing.”
Transparency of communication between the consumer and the professional about the ongoing process is harmed because of various complexities which results in the delay of judgement.“LegalDocs acts as an escrow account between the consumer and the professional services partner. Money will be transferred for services only after customer's satisfaction”. He adds,“At the core of our platform is a Proprietary AI algorithm for match making and tracking of customer satisfaction. At any point of time if the customer is unhappy or having issues with the professional, s/he can request for change of professionals. This solves the problem of communication and progress
"LegalDocs is focused on helping 60 million Indian SMEs & help in India’s growth"
Standardisation of prices stands as the second hazard of the industry. An exceeding number of professionals tend to demand double the money for half the work. Here the customer is also in a fix because of his inability to have a substitute lawyer midway. Gaurav asserts,“LegalDocs is controlled marketplace where every professional is verified, prices of work are predefined as per scope and quantum of work. This solves the problem of discovery & right pricing.”
Transparency of communication between the consumer and the professional about the ongoing process is harmed because of various complexities which results in the delay of judgement.“LegalDocs acts as an escrow account between the consumer and the professional services partner. Money will be transferred for services only after customer's satisfaction”. He adds,“At the core of our platform is a Proprietary AI algorithm for match making and tracking of customer satisfaction. At any point of time if the customer is unhappy or having issues with the professional, s/he can request for change of professionals. This solves the problem of communication and progress
tracking.”
The Way to Business
The functioning matrix of LegalDocs lies in its acute understanding of product and customer requirements. It facilitates the company to detect the scopes and volume of work that is to be provided to the customers. Based on the same information, the algorithm finalises the price for a specific service. Gaurav says, “We have escrow account and a 100 percent money back guarantee. We are obliged to state that only0.2 percent of the customers’ i.e only 2 in 1000 has requested for money back.”
LegalDocs has grown considerably by providing solutions to entrepreneurs on the grounds of accurate accounting, financial forecasting, business modelling and taxation.“Currently 100+ Startups SMEs are using on-demand accounting services of LegalDocs on weekly basis. 300+ SME have access to non collateral business growth Loans”, says Gaurav. He adds, “These SMEs were not eligible for formal loan owing to incomplete documents, we guided them for eligibility and documentation till loan disbursement of 40 million in the past 6 months.”
Concentrated on focusing to facilitate the growth of Indian SMEs,the company isgearing up to take 5000 professionals onboard and capture more than 10 percent market share by emerging as a prominent player in CA, CS and Legal services. Gaurav concludes,"Our goal is to assist 6 million SMEs on our portal in the coming three years."
The Way to Business
The functioning matrix of LegalDocs lies in its acute understanding of product and customer requirements. It facilitates the company to detect the scopes and volume of work that is to be provided to the customers. Based on the same information, the algorithm finalises the price for a specific service. Gaurav says, “We have escrow account and a 100 percent money back guarantee. We are obliged to state that only0.2 percent of the customers’ i.e only 2 in 1000 has requested for money back.”
LegalDocs has grown considerably by providing solutions to entrepreneurs on the grounds of accurate accounting, financial forecasting, business modelling and taxation.“Currently 100+ Startups SMEs are using on-demand accounting services of LegalDocs on weekly basis. 300+ SME have access to non collateral business growth Loans”, says Gaurav. He adds, “These SMEs were not eligible for formal loan owing to incomplete documents, we guided them for eligibility and documentation till loan disbursement of 40 million in the past 6 months.”
Concentrated on focusing to facilitate the growth of Indian SMEs,the company isgearing up to take 5000 professionals onboard and capture more than 10 percent market share by emerging as a prominent player in CA, CS and Legal services. Gaurav concludes,"Our goal is to assist 6 million SMEs on our portal in the coming three years."
