Agiloft has made a groundbreaking move in the world of contract lifecycle management (CLM) by acquiring Screens, a leader in using Generative AI for contract review and redlining. This acquisition brings a revolutionary approach to contract management, promising to increase efficiency, standardize compliance, and unlock deeper insights into contract data.
Streamlining Contract Management with AI
The integration of Screens’ advanced AI technology into Agiloft’s Data-first Agreement Platform is set to transform the way contracts are reviewed and managed. Screens’ innovative playbook system allows legal teams to perform standards-based reviews with incredible speed and precision. These playbooks, which can be customized by users or accessed from a community of legal experts, enable organizations to assess contracts against predefined standards and receive AI-driven suggestions to improve compliance.
A Community-Driven Approach
One of the standout features of Screens is its community-driven model. Legal professionals from around the world contribute expertly crafted playbooks, which are freely available to users. This collaborative ecosystem ensures that organizations can leverage the collective expertise of the legal community, significantly enhancing the quality and speed of contract reviews.
Data-Driven Insights for Smarter Decisions
Screens also provides valuable market data by tracking pass and failure rates for specific clauses. This data gives users unique industry insights, allowing them to identify which clauses are worth insisting on and which should be avoided. As a result, legal teams can make more informed decisions and set new standards for contract negotiation and compliance.
Enhanced Efficiency and Reduced Risk
Redlining digital contracts has traditionally been a time-consuming and labor-intensive process. With Screens’ AI-powered tools, legal teams can now review and amend contracts faster than ever, reducing inefficiencies and minimizing risks. Integrated into Agiloft’s platform, this technology provides an end-to-end solution for contract management, enabling businesses to save costs, accelerate sales, and mitigate risks.
The Future of Contract Management
The acquisition of Screens marks a pivotal moment for Agiloft and its mission to transform contract lifecycle management. By combining no-code simplicity with intelligent, actionable contract data, Agiloft empowers organizations to fully automate their contract processes. As Eric Laughlin, CEO of Agiloft, stated, “Businesses everywhere now have a data-driven, community-supported way to accelerate their operations and set new benchmarks in contract management.”
Customer-Centric Innovation
With Screens available as both a standalone solution and integrated into Agiloft’s platform, organizations of all sizes can benefit from this innovative technology. Whether it’s enabling legal teams to scale their expertise or providing actionable insights for smarter decision-making, this acquisition is set to redefine how companies manage contracts.
To explore how AI is shaping industries beyond contract management, check out Omada Joins Forces with Microsoft to Revolutionize AI-Driven Identity Governance.
Driving Transformation in the CLM Landscape
With this strategic move, Agiloft is not just enhancing its platform but also paving the way for a new era in contract lifecycle management. The combination of Agiloft’s comprehensive platform and Screens’ cutting-edge AI technology is a game-changer, offering businesses the tools they need to thrive in an increasingly competitive landscape.