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DocuSign today (6 May) announced that it has agreed to acquire AI-powered contractmanagement software provider Lexion for $165m in cash, as DocuSign continues to strengthen its offerings in the […] The post DocuSign to acquire contractmanagement vendor Lexion for $165m appeared first on Legal IT Insider.
Cloud contractmanagement software is the solution. In this guide, well dive into what cloud-based contractmanagement software is, how it stands out from traditional methods, and why its become a must-have for the legal world. What is Cloud-Based ContractManagement Software? The best part?
Data literacy isn’t a buzzword; it’s a fundamental skill set that empowers legal professionals to handle complex challenges like data privacy compliance, AI bias assessment, and contractanalytics. Leveraging Litigation Analytics Litigation is data-intensive, and making sense of this data is crucial for managing risks effectively.
Thats why enterprises need contractmanagement software that automates approvals, tracks risks, and keeps everything in one place. Let’s talk about the best enterprise contractmanagement software of 2025. What is ContractManagement Software? What Do Enterprises Need In a ContractManagement System?
Contractmanagement is one of those tasks that takes way longer than it shoulddrafting, approvals, negotiations, and endless back-and-forth emails can drag on for weeks. Automation of contractmanagement processes accelerates negotiation cycles by 50%, according to Weshare. What Is an Automated ContractManagement Tool?
Seattle-headquartered contractmanagement vendor Lexion has raised a $20m Series B funding round led by Point72 Ventures, with participation from Citi Ventures, and existing investors Khosla Ventures, Madrona Venture Group, … Contractmanagement: Lexion raises $20m Series B Read More » The post Contractmanagement: Lexion raises $20m Series (..)
Also, AI analytics lets you measure performance so you can run better. E-Discovery platforms make managing data easy. Along with secure data handling capability, these platforms typically have advanced analytics and searches. AI helps lawyers spot patterns and make better decisions. In a competitive legal world, AI is a winner.
software company with products for contractmanagement, virtual deal rooms and electronic signatures. In November 2020, Onit acquired McCarthyFinch , provider of a suite of AI-driven contractmanagement software, then, a month later, it acquired AXDRAFT , developer of contract automation software.
Major financing news today, as LinkSquares , the Boston-based company that provides an AI-powered contractmanagement and analysis platform, said it has raised $100 million in Series C financing, less than a year after raising a $40 million Series B round, and bringing its total raise to $161.5
The right choice depends on your industry, contract volume, and risk tolerance. This guide breaks down the best contract analysis software for 2025, covering tools that go beyond basic automation to offer smarter, faster, and more reliable contractmanagement. Need to find a renewal clause or check past revisions?
Contract Lifecycle Management (CLM) software is no exceptionmany solutions promise cutting-edge automation, predictive analytics, and machine learning enhancements. Are you ready to simplify your contractmanagement? But at the end of the day, are these bells and whistles really saving you time? Lets talk.
announced today (17 September) that it has signed a definitive agreement to acquire AI contractmanagement vendor Evisort for an undisclosed sum. Enterprise finance and HR platform Workday, Inc.
The company, which provides AI-driven contractmanagement, is today releasing a year-end report that reveals that it has doubled both its revenue and headcount in 2021. Its platform offers both post-signature contractmanagement, review and analytics and pre-signature contract generation and approval.
Evisort , a provider of no-code, artificial intelligence products for contractmanagement and analysis, has raised 100 million in capital, including equity and venture debt financing, bringing its total funding to date to $155 million. . Related: How It Works: Evisort, A Leading Provider of ContractManagement and AI Solutions.
Last year, I wrote here about Lexion , an AI-powered contractmanagement system for mid-market corporations that emerged out of the Allen Institute for AI , the AI research institute created by Microsoft cofounder Paul Allen. The dashboard also provides analytics that provide an overview of tasks by dates, owners and types.
Out of 65 products named in this year’s awards, just two legal technology products made the cut: Evisort , a company that provides AI-driven contractmanagement for legal, procurement, sales, finance and IT teams; and Onit , a company that provides enterprise workflow products for corporations and corporate legal departments. .
ContractManagementContractmanagement is a huge part of any legal professional’s daily routine. With the help of AI, the process of contractmanagement becomes seamless. By automatically reviewing, drafting and analyzing contracts, artificial intelligence will enhance case management.
software company with products for contractmanagement, virtual deal rooms and electronic signatures. In November 2020, Onit acquired McCarthyFinch , provider of a suite of AI-driven contractmanagement software, then, a month later, it acquired AXDRAFT , developer of contract automation software.
If contractmanagement is not prioritized, it can be a serious drain on the bottom line. Contract review tools simplify the process, helping teams identify risks, edit agreements, and stay organized. Metadata capture : Extracts contract metadata that can integrate with your contractmanagement software.
The survey by contractmanagement company Lexion polled 450 inhouse legal professionals — general counsel, inhouse counsel, legal operations professionals, contractmanagers, paralegals and others — across various industries. Contractanalytics/reporting. Legal task management. Spend management.
Last year, I wrote here about Lexion , an AI-powered contractmanagement system for mid-market corporations that emerged out of the Allen Institute for AI , the AI research institute created by Microsoft cofounder Paul Allen. The dashboard also provides analytics that provide an overview of tasks by dates, owners and types.
Predictive Analytics for Case Strategy and Trial Outcomes Predictive analytics represents a game-changer in litigation strategy. With access to powerful analytics and insights, legal teams can develop more informed and adaptable strategies.
The release of this product follows Onit’s acquisition in November 2020 of McCarthyFinch, provider of a suite of AI-driven contractmanagement software, followed a month later by its acquisition of AXDRAFT , developer of contract automation software. ” Featured image by rupixen.com via Unsplash.
Predictive Analytics Predictive analytics revolves around using data to make smart guesses about what might happen next. Their tailored onboarding process and collaborative feedback loop make it a standout choice for organizations looking for accuracy, efficiency, and a partner in their contractmanagement process.
Easier contractmanagement. They let you managecontracts at scale. For all their benefits, templates have some drawbacks: They stunt your drafting and analytical skills. Checklists on steroids. Templates ensure that you wont omit crucial items. Templates are easier to organize, store, retrieve, and analyze.
Upload 10,000 contracts today and nearly instantly visualize critical contract data and key metrics. That is what contractmanagement company Evisort says its customers can now do with the launch today of its new Intelligent Dashboarding. Visualizing Contract Data.
Ranked a Leader in G2’s Relationship Indexes for ContractManagement, Contract Lifecycle Management Software, and ContractAnalytics. Related: LawNext: With $40M Series B, LinkSquares CEO Sets Sights On The Impossible In Contracts Tech.
It will integrate across the Filevine “fileverse” that includes Outlaw for contractmanagement and Lead Docket for lead management, as well as with the data visualization and analytics platform Domo, another Filevine integration platform.
In fact, according to Gartner , AI-based contractanalytics solutions can reduce the manual effort needed for contract review by 50%. Thats a huge time-saver for law firms and corporations managing complex workflows. How Does Contract Review Software Work? Can ChatGPT review a contract?
Data-Driven Insights : Leverage analytics to review historical contract performance and negotiate better terms during renewals. Workflow Automation : Automate repetitive tasks, such as sending renewal drafts for approval, to reduce administrative burden and speed up the process.
For example, the Rocket Matter legal customer relationship management (CRM) platform offers robust analytics tools that help you track client interactions and performance metrics. Rocket Matter offers legal billing and contractmanagement tools that simplify the entire billing process.
Intended for customers in both corporate legal and law firms, Traact offers modules for entity management, permits and licensing, board management, matter management, contractmanagement, disputes and litigation, finance and taxes (including spend management), and document management. .”
Both have been mainstays over the last few years — especially within the realms of contract review and in predictive analytics around judge rulings and the effects of precedent. Divisions that stand to benefit from AI’s facilitated tools include procurement, contractmanagement and sales-focused divisions.
Efficient ContractManagement : Contracts are the backbone of business operations, and managing them effectively is critical. Legal technology offers contractmanagement solutions. That streamlines the entire lifecycle of a contract, from creation and negotiation to execution and renewal.
Best Tools for In-House Legal Teams The best tools for in-house legal teams are designed to streamline various aspects of legal operations, from contractmanagement to e-discovery. ContractManagement Solutions Legal AI tools like Kira Systems and Luminance are leading the way in contractmanagement.
Best Tools for In-House Legal Teams The best tools for in-house legal teams are designed to streamline various aspects of legal operations, from contractmanagement to e-discovery. ContractManagement Solutions Legal AI tools like Kira Systems and Luminance are leading the way in contractmanagement.
However, it has evolved into a multidimensional function, encompassing various areas such as technology, project management, and data analytics. They possess a unique blend of skills, including project management , communication, process improvement, and technology proficiency.
ALOE provides valuable analytics and reporting capabilities that offer a deeper understanding of your contractmanagement processes. Features to look for: · Performance Metrics : Track metrics such as contract approval times, compliance rates, and renewal success.
The company, which provides AI-driven contractmanagement, is today releasing a year-end report that reveals that it has doubled both its revenue and headcount in 2021. Its platform offers both post-signature contractmanagement, review and analytics and pre-signature contract generation and approval.
Reporting and analytics: A CLM solution should provide reporting and analytics capabilities, allowing users to track contract performance and gain insights into their contract portfolio. Download our free white paper below if you want to learn more about contract lifecycle management technology.
Create the conditions for innovation, based on research and analytic process. That has to be paired with rigorous business analytics. What Bold Duck, a design studio, is doing with Microsoft is building a Design Accelerator. Josh says “design thinking” is essential but only a part of the process.
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