I'm not sure if this really saves time in the end. At least for me the part of taking a lot of information and thinking about condensing it in a few sentences is the most important part of making flashcards or similar summaries.

A lot of the time I end up never reading them, or reading them once because I already indirectly studied everything in the process of making them in the first place.

There are many free flashcard making tools that are optimized for purpose.