AI-Powered Contract Management
for law departments and law firms
Get a grip on your contracts + Keep your house in order
Extraction and Analysis
Contract Extraction and Analysis
- Batch Analysis and Clustering of Unorganized Documents
- Auto-Extraction of Metadata and Analysis
- Extract unstructured text into structured objects
- Built-in Accelerators – LIBOR, CCPA
- Legal domain-specific search and identification
Automatically locate legal material among your multitude of other documents, files and communications
Automatically match duplicate or near-duplicate documents like executed copies, revisions, and amendments
Extract key terms like effective or termination dates, unit prices, discount or interest rates, and parties
Automatically group and tag documents into related clusters by content or metadata
Locate key clauses and references like assignment restrictions, termination clauses, or regulatory requirements
Export your data and generate reports to visualize key information, such as jurisdiction. Integrate with downstream systems like contract or matter management
- Cost-effectively and accurately processes large document sets with configurable data extraction and analytics that identifies and isolates important clauses and provisions for faster remediation.
- Provides an extensible platform that can be used to build custom document analytics for any practice area, such as M&A, commercial law, real estate, vendor management, insurance, etc.
- ContraxSuite capabilities can be further augmented by Elevate’s contract services to act as an extension of the customer’s in-house resources, enabling more experienced personnel to focus on higher-value activities.
Preconfigured solution for LIBOR analysis
In response to the growing need for LIBOR-related contract analytics, we have built a LIBOR-focused version of ContraxSuite. Trained on tens of thousands of financial contracts, ContraxSuite can find and label important LIBOR-related clauses, including fallback provisions.
Contract Lifecycle Management and Workflow
- Contract Evaluation & Risk-scoring
- Negotiation & Document Tracking
- Playbook and Clause Deviation Management
- Approvals, Blockchain, & eSignature Integration
- Self-service and Instant Contracts
Our Contract Lifecycle Management system is designed to reduce value leakage and minimize risks at all phases of the lifecycle. Unlike traditional ECLM systems, ours may be augmented with comprehensive contract services to deliver cost-optimized support for special projects, major initiatives or day-to-day contract operations.
For any team needing to perform obligation management, our tool helps identify potential risks, protects assets and ensures compliance by providing instant access to business-critical information contained in corporate agreements across the enterprise. Our system delivers value to the in-house team as well as outside counsel and legal service providers as well as business managers who need legal support to run the business.
- Management of Obligations and Compliance Deadlines
- Advanced Document Repository with Search
- Suppliers and Partner Management
- Alerts & Notifications and Discussion Threads
LIBOR: Managing LIBOR Risks through Technology-Assisted Review.
You can read the full whitepaper below.
Significant uncertainty surrounds the future of the London Interbank Offered Rate (LIBOR) framework, which underpins at least two to four hundred trillion dollars in commercial and financial contracts around the world.
While the best approach for each organization will depend on its strategy, budget, and risk preferences, it is imperative that executives and boardrooms foster a vigorous, solution-oriented plan within their organizations today.
THE DIGITAL ADVANTAGE: What Does Digital Transformation Mean for The Legal Industry?
Please read the full whitepaper here:
Technology is disrupting the economics of the legal industry. Our whitepaper explores the market conditions that are driving digital transformation, explores what digital transformation means “beyond the buzzword,” and explains how law firms and law departments can achieve successful digital transformation with the right strategy.