CLM company ContractPodAi has launched ‘Cloud’, in what is a major expansion of the platform that streamlines a broad range of inhouse legal processes beyond contract management, and also provides the ability for inhouse lawyers to build their own no-code applications to use within the system.
For example, Cloud also allows teams now to better manage matters such as RFP review and IP portfolios, as well as the day to day contracting needs one would expect.
Sarvarth Misra, CEO of ContractPodAi, commented: ‘ContractPodAi Cloud is crafted according to the most advanced principles of modern legal design thinking. It puts the needs of corporate counsel at the centre of the technology experience.’
All well and good. But, how much of a change is this? And what does this mean for clients in practical terms? Artificial Lawyer caught up with Richa Kaul, ContractPodAi’s Chief Strategy Officer, to find out some more.
How is this different to what was there before?
This is a core change. ContractPodAi’s offering is changing in three main ways.
First, what we have now is one legal platform that supports in-house legal teams across their workload. The platform offers different modules or applications, one of which is contract management, to help legal teams streamline the management of their day-to-day legal scenarios.
Other pre-built applications beyond contract management include: RFP Review, IP Portfolio Management, Claims Management, Real Estate Portfolio Management, and more.
For example, the RFP review module automates workflows between legal, procurement, and the relevant function, and it creates a repository for RFP responses.
Another example is our IP portfolio management application, which enables better protection of IP rights via a centralised repository that abstracts data like jurisdictions and expirations for easy ongoing management, and more.
There is also a fully revamped user experience, [and] all processes and workflows are fully guided, with the user being presented at each stage with only their potential next steps (see screenshot below). This supports organic adoption for maximum impact to clients.
Then there is the Legal Application Launcher [which you can use to] build custom applications in minutes. This experience is made easy for non-technical audiences with guided forms and templates that take you step by step through the process of building a tailored application in a no-code format.
A client can use the legal application builder to address a frequent legal use case or manual-work-heavy task that they face and want to streamline and scale in a standardised way. This really applies to any task that they do often.
For example, the senior legal team members might be responsible for corporate governance or corporate secretarial administration. They can create a custom legal application that has a smart, fully searchable repository for all their Board documents, automated workflows for approval of Board minutes, e-sign for any corporate governance items that require attention, and even relevant tasks noted and managed in-platform.
More broadly, there is a foundation of technical tools underlying the ContractPodAi Cloud platform, which users can leverage towards their specific use cases and needs.
The foundational features include functions like smart repository, dynamic workflow builder, self-service document authoring from templates, AI review and extraction, advanced cognitive search, foreign language translation, visual reporting and analytics, and more.
Clients have the ability to use this toolkit in a tailored way against each of their legal scenarios.
Here’s a short video made by the company that gives you a walk through of how it all works. See here.