LexCheck’s artificial intelligence (AI)-powered contract negotiation platform supports legal team training while ensuring agreements comply fully with company standards. An automated contract review solution like LexCheck supports team members throughout the legal department—from newly-hired associates who gain confidence while learning company standards to senior-level reviewers who can experience fewer escalations and concentrate on higher-value, strategic tasks.
Traditional legal operations training formats include:
While training is necessary to maintain accuracy and efficiency, it can drain resources and reduce productivity if not well-managed. The most efficient legal departments are turning to comprehensive platforms with automated training protocols that leverage innovations such as artificial intelligence.
Gartner estimates some 63 percent of corporate legal work can be standardized. In the past, new hires would need to learn their company’s digital playbook and painstakingly cross-reference it when reviewing agreements. When the new associate completed their review, one or more senior attorneys would check the agreement for accuracy and playbook adherence. The entire process could take weeks. Automating legal operations training with advanced AI solutions allows corporate legal departments to perform contract redlining, review, and negotiations in a matter of minutes.
Legal teams initiate the AI-powered contract review process by uploading or emailing an agreement to the platform. LexCheck automatically compares the contract draft to the AI Digital Playbook and past accepted contracts, implementing full redlining, auto-suggestions, and context-based guidance in just minutes.
LexCheck can automatically apply pre-approved changes to eliminate the need for mid-level reviews. Risky clauses will require oversight by a senior-level reviewer, but overall escalations will decrease. As a result, legal departments can conserve more time and money to allot to other targeted training while the AI completes routine contract review and negotiation.
Traditional processes often require excessive back-and-forth emailing between parties. Questions arise that demand clarification or context. An AI contract platform automates the approval process by delivering a redlined contract with playbook-compliant, context-based suggestions.
NetApp, a multibillion-dollar cloud data management company, handles a high volume of sponsorship agreements. Before partnering with LexCheck, NetApp’s procurement team would review agreements, identify deviations from their preferred legal guidelines, and create executive summaries outlining risks. Individual subject matter experts would then evaluate each decision and recommend alternate positions or compromises before signing off on the contracts. This manual process drained company resources.
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LexCheck’s award-winning legal platform enables corporate legal departments to streamline and transform legal operations training. To learn more, contact us at sales@lexcheck.com. Request a demo to experience the technology first-hand.