Powerful Feature Revolutionizes Contract Review with AI That Goes Beyond Alerts and Does the Work
HOUSTON (May 11, 2021) – Onit, Inc., a leading provider of enterprise workflow and artificial intelligence platforms and solutions, including enterprise legal management, contract lifecycle management and business process automation, today announced a substantial update to its ReviewAI software product. Smart Checklists, offered as part of the ReviewAI Word Add-In, seamlessly integrates AI with how lawyers work, enabling in-house teams to better tackle remote and hybrid work challenges. Smart Checklists automates and augments contract review, turning playbook checks into intelligent, actionable and collaborative tasks. It tracks what’s important, what to do next and what is done – all in an intuitive solution that requires no training.
As a result, lawyers save upward of 52% of their time on contracts and experience reduced mental burden, while legal teams improve consistency, lower contract risks and better support the business.
Integrated with Onit’s contract lifecycle management technology, ReviewAI and its Smart Checklists dramatically accelerate contract management.
“Lawyers want to reduce tasks that are time-consuming and repetitive so they can focus on more strategic work. Contracts represent a particularly painful process, as they require numerous contributors across business units and often take multiple sessions to review and approve. With closing and reopening contracts, lawyers are often trying to keep track of where they left off for each one or where in a negotiation they’ve gotten to,” said Jean Yang, Vice President of Onit’s AI Center of Excellence. “ReviewAI’s Smart Checklists revolutionizes contract lifecycle management with AI that goes beyond alerts and does the work. With AI enabled checklists in Microsoft Word, it allows in-house counsel to simply work through their playbook and collaborate with confidence that they have finished all the items in a review.”
An Enhanced ReviewAI Experience
ReviewAI uses artificial intelligence to quickly and accurately review, redline and edit all types of contracts in less than two minutes. Business users outside of corporate legal departments can automatically receive a reviewed and redlined contract via email or a self-service portal. The ReviewAI Word Add-in, designed for lawyers and contract professionals, automatically reviews and redlines dozens of contract types out of the box, such as NDAs, MSAs, SOWs and purchase agreements based on corporate standards.
The addition of the Smart Checklists enhancement elevates the already powerful ReviewAI experience, allowing for deeper AI assistance and the ability to implement commercial checklists that result in actionable tasks relevant to corporate legal and other departments across a business. The AI technology reduces the mental burden of contract review, eliminates rereading and communication issues and streamlines negotiations.
ReviewAI Smart Checklists is available within Onit’s ReviewAI software now. Interested parties can view a short product demonstration by visiting here or schedule a demo here. Onit customers can contact their account managers to learn more.
See ReviewAI and its Smart Checklists Feature During Legalweek(year)
On May 11 at 2:15 p.m. EDT, Nick Whitehouse, General Manager of Onit’s AI Center of Excellence, will present for Legalweek on “Contract AI That’s Not Just Alerts, It Does the Work!” He will discuss how to avoid forgotten, missed or outdated contract review items with AI and include a demonstration of ReviewAI and its Smart Checklists. Attendees can access the presentation by visiting the Onit Sponsored Channel at Legalweek. To get to Onit’s channel, simply click on the Onit logo in the What’s Next box on the main conference page or visit the sponsor channels link in the main navigation and find Onit. Registration for Legalweek is available here.
Onit is a global leader of workflow and artificial intelligence platforms and solutions for legal, compliance, sales, IT, HR and finance departments. With Onit, companies can transform best practices into smarter workflows, better processes and operational efficiencies. With a focus on enterprise legal management, matter management, spend management, contract lifecycle management and legal holds, the company operates globally and helps transform how Fortune 500 companies and billion-dollar corporate legal departments bridge the gap between systems of record and systems of engagement. Onit helps customers find gains in efficiency, reduce costs and automate transactions faster. For more information, visit www.onit.com or call 1-800-281-1330.