For several days each year, more than 8,000 legal professionals and more than 300 speakers, from 36 countries, get together to discuss all things legal – and digital. I got the opportunity to discuss the core functionalities of CLM solutions.
Legalweek is the world’s largest, longest-running conference focused on legal technology. It happened all over again at New York City’s Hilton Midtown, between Feb. 3 and Feb. 6. The thought-provoking theme of Legalweek 2020 was “Driving Legal Forward.” Perhaps you attended Legalweek 2020 for the panel sessions and seminars. Or maybe for the trade show and all of the worthwhile legal training.
At this year’s event, I enjoyed giving a demonstration on ContractPodAi’s contract lifecycle management (CLM) solution and how it helps you to mitigate your legal risk and financial exposure, as well as perform all of your deep legal obligations on time.
THE 4 FUNCTIONALITIES OF CLM
- Repository
- Automation
- Workflow
- Robust reporting functionality
The first of the four core functionalities of our CLM is a repository, from which you can pull all of your contracts – with related documents. It allows you to complete advanced searches of all of your legal documents. The second core functionality is automation. With it, you can take a sample set of your legal agreements and create templates around them. That way, you can automate your entire contract generation process. The third functionality is workflow, which helps you to make sure that the right contracts are sent to the right departments – and to all of the right people. And finally, ContractPodAi offers robust reporting functionality. You can obtain key obligation analysis – the kind of invaluable information that you owe to yourself and your various business partners. What’s more, IBM Watson’s artificial intelligence allows you to review contracts faster than ever before.
If you didn’t have an opportunity to see ContractPodAi’s demo at Legalweek 2020, you can watch the video below:
Also, make sure to ask us for a demo, which shows you how AI-driven contract management software can assist your business. And fill out our Digital Transformation Scorecard, which helps general counsels assess where exactly they stand in their digital transformation journey.
Author:
Derek Karpel
