March28 , 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]
206-859-3118
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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

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Supporting Our Community: TAG Inc. Sponsors AdventHealth Foundation’s Golf Fundraiser

TAG Inc. proudly sponsors AdventHealth Foundation Central Florida's Sixth Annual Golf Classic, supporting vital community programs.

TAG, Inc., a leading provider of healthcare procure-to-pay solutions, is proud to announce its sponsorship of the Sixth Annual AdventHealth Golf Classic, hosted by AdventHealth Foundation Central Florida. As a gold event sponsor, TAG, Inc. will sponsor two holes and field three teams comprising key members of AdventHealth's Finance and Supply Chain teams alongside representatives from our company.

The event, scheduled for May 10, 2024, at the Reunion Resort and Golf Club, brings together 250 community partners and AdventHealth leaders for a day of golf and philanthropy. Proceeds from the event will support AdventHealth Foundation Central Florida's mission to provide comprehensive whole-person care and ensure vital community programs continue to thrive.

John Weiss, CEO of TAG, Inc., expressed enthusiasm about the sponsorship, stating, "We are thrilled to support AdventHealth Foundation’s Annual Golf Classic. At TAG, Inc., we share AdventHealth's commitment to bringing hope and healing to our community. By sponsoring this event, we reaffirm our dedication to supporting the vital programs and services that make a difference in the lives of those we serve."

The AdventHealth Golf Classic serves as a testament to the power of collaboration and community spirit, bringing together individuals and organizations united in their mission to make a positive impact.

For more information about the event, please visit AdventHealth.com/GolfClassic.

About AdventHealth Foundation Central Florida:

AdventHealth Foundation Central Florida is a 501(c)(3) not-for-profit that directly supports the AdventHealth Central Florida Division, which is made up of 17 hospitals and ERs in the four counties in and surrounding metro Orlando. As one of the largest faith-based health care systems in the United States, AdventHealth provides comprehensive whole-person care to 3.5 million patient visits in Central Florida annually. 

The organization has a deep commitment to serving the community and has a local financial impact of more than $1 billion annually. AdventHealth and its employees are responsible for nearly 20 percent of Central Florida’s economy. 

AdventHealth Orlando has been recognized by U.S. News & World Report, Newsweek, Centers for Medicare and Medicaid Services, and the Leapfrog Group.

About TAG, Inc.:

TAG, Inc. is a leading provider of healthcare procure-to-pay solutions dedicated to helping organizations optimize their finance and supply chain processes and drive cost savings. With a focus on innovation and efficiency, TAG, Inc. empowers healthcare providers to deliver exceptional care to their communities.

Contact Information:
Candis Spraul
Marketing, Communications & Media
[email protected]


Original Source: Supporting Our Community: TAG Inc. Sponsors AdventHealth Foundation's Golf Fundraiser Supporting Our Community: TAG Inc. Sponsors AdventHealth Foundation’s Golf Fundraiser