ThoughtRiver’s Review contract analysis platform
Review addresses a fundamental problem for lawyers and in-house counsels: you don’t know whether you need to read a business contract without reading it.
With research now suggesting up to 40% of lawyer time is wasted on low value issues, Review tells you which contracts to look at and which issues to focus on, without having to read them first. Review can be used to triage day-to-day contract workflows, large projects such as portfolio reviews, as well as regulatory investigations.
Who will our software benefit?
ThoughtRiver’s software will benefit you most if you are a commercial, finance, risk or legal team with a volume of contracts to assess and triage – either on a one off or ad-hoc basis, such as reviewing your lease portfolio, supplier arrangements or checking contracts for GDPR compliance.
Our charges are based on a per-contract processing fee, banded by contract length. These fees are paid via a pre-pay account, which you commit to on a quarterly or annual basis depending on your likely volume – something we can help advise on.
We establish an individual, dedicated, secure server environment to ensure the privacy of all our customers’ critical data, and there is a one-time implementation fee for this. The rest of the setup process, for example creating your personal risk profiles, is rapid and straightforward. We provide a wide range of templates and tools for you to manage this process yourself, or our experts can provide additional support if you would prefer.
How will you benefit?
Depending on a existing contract review requirements and workflow, clients generally can experience between 50-90% time savings and obtain more than 4X ROI. Here are a couple of examples:
Our software automates the human triaging process, interpreting key risk issues and dynamically applying corporate policies in order to generate an overall risk score for the contract.
Eversheds Sutherland Ignite are quoted as saying “ThoughtRiver not only provides us a way of triaging contracts and prioritizing our resources, it effectively provides us with another legal team”.
We believe that it is difficult to understand the true value of our powerful AI technology without seeing it for yourself.
Why not let us give you a quick demo online or in person? Simply fill out the form below and we’ll be in touch.