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Pre-screening

Turbocharge your deals with an automated review and guided remediation of new contracts, which pulls forward revenue for your business and makes your lawyers more strategic.

Why pre-screen contracts?

Legal budgets are tightening, while contract flow is increasing and deal velocity is becoming more and more important to CEOs. Deals slow down while sales teams wait for legal to review any new contracts. When the legal team finally gets to the contract, many hours are then wasted reviewing clauses that are in fact not risky. The lawyers also find themselves adding the same comment, or cutting and pasting the same wording for a clause to a contract hundreds of times per year. As a result, in-house lawyers can become reactive, with their jobs frustratingly bogged down by tasks far below their capabilities while deals stagnate and the business has to wait for revenues. 

 

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Up to 95% time saved for initial contract review

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Up to 80% costs saved for initial contract review

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Free your in-house team to focus on strategy, not NDAs

Summarise contract data into actionable recommendations

Our pre-screening tool understands the complex information present in a contract and compares your contractual positions against a bespoke playbook. This is rolled up into a single recommended action that a business user or lawyer can easily act upon.

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Remediate the contract directly within Microsoft Word

Our pre-screening intelligence can be surfaced directly within Microsoft Word for fast remediation work by lawyers or even business users. We even allow both one-click comments and suggested clause replacements to really improve your speed.  

ThoughtRiver in action

We are helping a major U.S. bank to pre-screen service agreements, SOWs and licensing agreements. We are able to help them review these contracts in around 3 minutes at a cost of $35 each; they had previously spent an average of 2-3 hours at a cost of $200 on each review.

“In a like for like comparison ThoughtRiver was faster and more accurate with its pre-screening than members of my legal team.”
GC, Global Manufacturer

Turning the future vision of the GC into today's reality

Learn how automated contract pre-screening technology can free up an in-house legal team to deliver strategic and commercial value to the wider business.

2019-03-07

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