ThoughtRiver

What is Automated Contract Review?

ThoughtRiver’s automated contract review technology addresses a fundamental problem for lawyers (in-house and private practice): you simply don’t know which part of a contract to focus on without reading it all. In doing so we also address a key problem for CEOs: "how do I increase deal velocity?"

Our automated contract review technology speeds up the contracting process by pre-screening the contract, answering key legal questions, and then serving up detailed advice and then guiding users through remediation within Microsoft Word. The end result is an increase in deal velocity allowing companies to sign more deals and pull revenue forward. We call this process intelligent contract pre-screening.

Increase deal velocity by reviewing contracts in minutes instead of days.

Risk assessment and remediation advice served to you within Microsoft Word

Data summarised as a single recommendation for your business users to act upon

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ThoughtRiver’s automated contract review technology works by deploying a sophisticated machine learning and natural language processing (NLP) engine that understands the contract at the sentence level.

Our Lexible framework then asks and answers thousands of individual questions of that contract to build a detailed picture of the obligations and rights within it.

These answers are then compared against your own playbook to produce a bespoke risk assessment and a decision on next steps for each contract, a process underpinned by our contract review technology. The risk assessment and corresponding remediation advice are then served up to users within Microsoft Word with both one-click comments and template clauses built-in.

Most commercial agreements are reviewed within minutes, vastly increasing sales velocity and reducing the legal bottleneck for all commercial teams.

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