Top-Rated Contract Negotiation Tool by CIO Review
CIOReview is a leading print and digital magazine published to help C-suite executives and leaders learn about new technology trends and make informed purchasing decisions. Their critical reviews serve as a trustworthy source of information for companies seeking the opportunity to work faster and smarter.
LexCheck is pleased to be selected as one of CIOReview’s “Top 20 Most Promising Legal Tech Solution Providers” of 2021. LexCheck joins an esteemed list of top industry leaders in legal technology.
Our top-rated contract negotiation tool uses automation and artificial intelligence (AI) to streamline contract negotiations with automated attorney-quality redlining. As a result, LexCheck ensures that all agreements adhere to company guidelines while greatly accelerating the review and negotiation process.
Challenges a Top-Rated Contract Negotiation Tool Can Solve
Legal departments are at a crossroads. The contract negotiation process has become significantly more complex. The risks are greater; stakes are higher. Meanwhile, attorneys are often bogged down by the many steps required when manually reviewing and negotiating agreements, not to mention the back-and-forth emailing that causes delays which can erode trust between parties while increasing the potential for errors.
In the past, incorporating large data sets and custom specifications into the development of a contract negotiation platform presented insurmountable technological hurdles. However, recent developments in the sophistication of AI and Natural Language Processing (NLP) have enabled advanced technological capabilities legal departments cannot afford to overlook.
Most Promising Legal Tech Solution Providers 2021
Lawyer and serial entrepreneur Gary Sangha teamed up with respected AI specialists to create a next-generation contract negotiation solution: LexCheck. While the platform comes preloaded with industry best practice standards for common contract types, it also enforces an organization’s specific playbook guidelines. Using just 24 contract samples to train the AI, the platform can automatically adjust contract language to ensure compliance with company guidelines.
Users simply email or upload new contracts to the platform’s secure cloud service, and LexCheck will respond—in only minutes—with fully-redlined agreements that include context-based inline suggestions for revision. As CIOReview put it: “New York-based LexCheck’s platform has effectively transformed contract negotiation by providing attorney-level functionalities to its clients through its AI-based technology stack.”
Early adopters have seen their total negotiation times reduced by as much as a third. One Fortune 500 client nearly eliminated manual review time for all contracts, which reviewers say “stands as a testimony to its ability in providing [a] highly reliable contract negotiation solution.” Unlike a manual reviewer, LexCheck can analyze and return contracts 24/7. Additionally, the platform keeps a record of all contract changes, producing a trackable audit trail for better accountability, compliance, and process bottleneck reduction. By automating the contract review and negotiation process, legal departments can eliminate errors, save time, and reduce risk by ensuring agreements adhere to company standards.
LexCheck’s top-rated contract negotiation tool leverages technologies including AI and NLP to accelerate negotiations while eliminating human errors. Contact us at firstname.lastname@example.org to learn more, or request a demo to experience the platform for yourself.
Gary Sangha | Founder & CEO
Gary Sangha is the Founder and CEO LexCheck. He's a serial entrepreneur and an academic. Gary previously founded Intelligize, a legal technology company that was acquired by LexisNexis. He's affiliated with the University of Pennsylvania and Stanford University and started his career as an attorney at Shearman & Sterling and White & Case.