Massey University academics present on essay type assessment marking. Their research indicates that:
Lecturers prefer to mark assignments on paper rather than on screen depending on the type of assignments. For especially long essays, paper based reading and marking is preferred.
Specialist software such as Electronic feedback, Grademark, WebCT connect, MarkTool, Creative technology-Markin, Markers assistant, Penmarked or basic tools such as Track changes function on Microsoft Word were being used by some lecturers to mark assignments electronically.
Feedback was the most important aspect of assignments. Comment banks could be developed to provide detailed feedback for each of the assignments.

Good feedback practice (Nicol & Macfarlane‐Dick, 2006):
1. helps clarify what good performance is (goals, criteria, expected standards);
2. facilitates the development of self-assessment (reflection) in learning;
3. delivers high quality information to students about their learning;
4. encourages teacher and peer dialogue around learning;
5. encourages positive motivational beliefs and self-esteem;
6. provides opportunities to close the gap between current and desired performance;
7. provides information to teachers that can be used to help shape teaching.

References:

Hattie, J., & Timperley, H. (2007). The Power of Feedback. Review of Educational Research, 77(1), 81–112. 
DOI: 10.3102/003465430298487
Higgins, R., Hartley, P., & Alan Skelton. (2002). The Conscientious Consumer: Reconsidering the role of assessment feedback in student learning. Studies in Higher Education, 27(1), 53- 64. DOI: 10.1080/03075070120099368 
David J. Nicol., & Debra Macfarlane‐Dick (2006) Formative assessment and self‐regulated learning: a model and seven principles of good feedback practice, Studies in Higher Education, 31(2), 199-218.
DOI: 10.1080/03075070600572090
Stephens, D., Sargent, G., & Ingrid, B. (2001). Comparison of assessed work marking software: implications for the ideal Integrated Marking Tool (IMT). Loughborough University. Conference contribution. https://hdl.handle.net/2134/1835
Hamer, J, Catherine, K., & Spence, Fiona. (2007). Peer assessment using aropä. ACE ’07: Proceedings of the ninth Australasian conference on Computing education – Volume 66 January 2007 Pages 43–54