April15 , 2024

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Lexion Launches Stand-Alone Version of ‘AI Contract Assist,’ Expanding Gen-AI Powered Contract Review to a Broader Audience

Today Lexion, the AI-powered contract management and operations workflow platform, introduced a new stand-alone suite of tools to transform the way businesses manage contracts. AI Contract Assist substantially reduces the time legal professionals spend on repetitive contract review and management tasks, and accelerates redlining and drafting with a GPT-powered legal copilot that puts the power of generative AI inside Microsoft Word.

Initially launched in 2022, Lexion’s AI Contract Assist was the first GenAI-driven legal tech software available in the market. While these features were previously available to users of Lexion's end-to-end CLM platform, they are now available to anybody who deals with contracts.

AI Contract Assist offers four distinct contracting features:

  • Review: Accelerates contract review by checking your contracts against predefined rules and playbooks. AI Contract Assist comes pre-loaded with five industry standard playbooks for common contract types, which can be easily edited, or new rules can be added from scratch. AI Contract Assist flags contract language that needs your attention and suggests redlines to bring it back into compliance.
  • Ask: AI Contract Assist allows you to ask questions – in colloquial language – and get detailed, customized answers specifically relating to your contracts.
  • Modify: AI Contract Assist generates redline recommendations based on your requests, to any language you select.
  • Add: AI Contract Assist generates new clauses from scratch, so you never have to start from a blank page again.

AI Contract Assist was specifically designed to address the most prominent pain points identified by hundreds of legal professionals in Lexion’s recent ‘The Current State of Legal Tech’ survey. Half or more of respondents indicated that ‘removing repetitive tasks,’ ‘completing work more quickly and efficiently,’ and ‘improving work product consistency’ are specific benefits that legal departments expect from using AI software going forward. AI Contract Assist’s features deliver against all three areas.

“Our team of attorneys and contract managers used to spend too much time on trivial tasks,” said Vi Duong, Vice President of Legal at Adswerve, Inc. “Lexion’s AI Contract Assist is leading the curve in terms of cutting-edge AI innovation; it’s head-and-shoulders above other platforms because it meets our attorneys and contract managers where they are today, using tools that they’re already familiar with. By integrating seamlessly into Microsoft Word, the learning curve is negligible while the time it saves us on tasks related to contract review is substantial.”

“We regularly engage with thousands of attorneys who work in dozens of different industries, from retail to healthcare to biotech,” said Emad Elwany, CTO and co-founder, Lexion. “Yet they all share common complaints when it comes to contract review. AI Contract Assist alleviates these pain points by handling many of the tasks typically assigned to junior legal professionals. Leveraging Lexion’s award-winning AI, AI Contract Assist is a significant advancement that frees up legal professionals to focus on higher-level tasks while still negotiating the best contracts in a fraction of the time – and we’re thrilled to make it available as a stand-alone.”

In addition to making AI-powered contract review available to more legal professionals, Lexion’s stand-alone AI Contract Assist also offers an easy path to incorporate the full power of Lexion’s CLM later, should they need a platform to handle end-to-end contracting.

To learn more about AI Contract Assist, please visit this URL.

About Lexion:

Lexion is a powerfully simple operations workflow platform that helps every team do more faster, by streamlining and centralizing the contracting process in a system that works the way you do. We built Lexion at Paul Allen’s artificial intelligence research institute, with an experienced team from Microsoft, Facebook, Google, and Amazon. Top AI investors (including A16Z, Sequoia, and Goldman Sachs) voted Lexion as one of the top 40 Intelligent Applications to watch in 2022. Most importantly, fantastic brands trust Lexion to help them close deals faster, such as Outreach, OfferUp, FOX Factory, and many more. Visit https://lexion.ai for more information.

Contact Information:
Forrest Carman
[email protected]
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Original Source: Lexion Launches Stand-Alone Version of ‘AI Contract Assist,’ Expanding Gen-AI Powered Contract Review to a Broader Audience

AARDVARK Tactical’s PROJECT7 Launches P7 Saves Initiative, Celebrates First Save

LA VERNE, Calif., February 15, 2024 (Newswire.com) - PROJECT7 Armor is proud to announce the launch of its new P7 Saves Initiative. This project celebra...

Johnson McNulty, PLLC Announces a New Office Location to Better Serve Family Law Clients in Fort Worth and Surrounding Communities

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ServiceUp Unveils InstaPay, Expediting Payments to Auto Repair Shops

ServiceUp launches InstaPay, the latest feature in its robust repair management platform. InstaPay provides repair shops with expedited payment processing immediately after repairs are complete, improving repair shop cash flow and productivity.

ServiceUp, a leading technology company streamlining automotive repairs, is proud to unveil a new feature designed to transform the way repair shops manage payments. With the launch of InstaPay, ServiceUp is further expediting the payment process, providing improved cash flow and increased productivity for repair shops. 

Empowering Repair Shops With InstaPay

Repair shops that are part of ServiceUp's extensive repair network or those collaborating directly with ServiceUp’s fleet and insurance customers can now leverage the power of InstaPay. This innovative payment feature expedites the payment process, ensuring that repair shops receive their funds within 24-48 hours after completing repairs, eliminating the need to wait for extended periods.

"We understand the challenges that repair shops face when it comes to managing payments," said Kunal Rupani, CPO of ServiceUp. "With InstaPay, we aim to streamline the payment process, allowing repair shops to focus on what they do best — providing exceptional repairs to their customers."

Streamlining Operations and Strengthening Partnerships

InstaPay eliminates the arduous task of chasing down late or missed payments when working directly with customers. Shops also no longer have to wait 30-60 days, the typical net payment terms, before payments hit their bank account. By providing repair shops with prompt payments, InstaPay ensures improved cash flow, enabling shops to allocate resources more effectively and confidently pursue growth opportunities.

Beyond the benefits to repair shops, InstaPay also enhances the experience for ServiceUp’s fleets and insurance customers. By ensuring timely payments, repair shops, fleets, and insurance customers can foster stronger relationships, leading to increased trust and satisfaction within the repair industry. 

The Future of Shop Payment Processing

ServiceUp's InstaPay represents a significant step forward in the automotive repair industry. By addressing the pain points associated with traditional payment processes, InstaPay empowers repair shops, fleets, and insurance customers alike, driving efficiency across the industry and fostering stronger partnerships.

"As pioneers in the automotive technology space, we are committed to innovation that delivers tangible benefits to our customers," said Kunal Rupani. "InstaPay is just the beginning of our journey towards revolutionizing the automotive repair industry, and we're excited to continue pushing boundaries and driving positive change."

About ServiceUp

ServiceUp is revolutionizing the entire car repair experience by saving businesses, policyholders, and shops from the trouble of an outdated repair ecosystem. Our tech-driven repair platform automates tasks within the repair process, resulting in increased efficiency, reduced costs, and a boost in customer satisfaction.

For more information, visit serviceup.com.

Contact Information:
Kam Thandi
Head of Marketing
[email protected]

Original Source: ServiceUp Unveils InstaPay, Expediting Payments to Auto Repair Shops

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