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Tuesday, May 28, 2024

DocJuris Debuts ‘Precedent’: A New Leap in AI-Powered Contract Review

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Forget contract history purgatory! DocJuris AI unlocks ‘Precedent,’ saving time and boosting accuracy. Past clauses & insights now fuel streamlined negotiations and faster deals.

DocJuris, a leader in contract AI, has launched ‘Precedent, ‘ the latest addition to its award-winning contract review software. Precedent stands as another testament to the proven benefits of artificial intelligence in legal, procurement, and sales.

Precedent answers, “What did we do last time?”. With the click of a button, DocJuris’ AI now uncovers insights for the full lifecycle of past contracts, from templates and markups through signatures.

The innovation is a proven game-changer for how deals get done. Addressing growing contract cycle times, Precedent allows users to quickly use prior clauses, markups, and comments in a streamlined experience without the complexity of playbooks, tagging, and endless folders.

Hemal Patel, CEO of DocJuris, highlights the core value of Precedent: “We now offer a crystal-clear way to uncover the full story of a company’s contract review history, providing useful context traditionally lost in email and clunky clause libraries.”

Precedent is seamlessly integrated into the overall DocJuris platform and uses permission-based profiles. Its synergy with DocJuris’ gen AI functionality, for instance, allows authorized users to instantly apply successful negotiation strategies from previous contracts with the push of a button, all in perfectly formatted track changes.

The implementation of Precedent is designed for ease and efficiency. Legal and business teams can onboard Precedent without costly or time-draining setup. With the assistance of DocJuris’ customer success and legal engineering team, organizations can feed their historical contract data into Precedent, enabling them to leverage past experiences immediately.

Beyond speeding up contract workflows, Precedent also improves DocJuris’ comprehensive feature set for negotiations. For example, organizations can quickly create contract playbooks and efficiently collaborate with customers and suppliers. The result is an accelerated process, where contracts are marked up and managed more swiftly, allowing teams to devote more time to strategic and substantial aspects of their work.

With the launch of Precedent, DocJuris reaffirms its position as a frontrunner in contract analysis software, continuing to equip professionals with cutting-edge tools to navigate the evolving landscape of AI and contracting.

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