In-house legal teams, grappling with the relentless task of efficiently reviewing and negotiating a myriad of routine contracts, may find some relief through the latest offering from SimpleDocs. Known for their AutoNDA contract automation software, the company has introduced SimpleAI, a tool integrated with Microsoft Word that streamlines contract review. By leveraging artificial intelligence, this new product allows legal professionals to build and deploy custom contract review playbooks tailored to the specific needs of their organization.
The launch of SimpleAI marks a significant step forward in addressing common inefficiencies faced by in-house legal departments. Currently, SmartAI is designed to automate routine aspects of contract negotiations, empowering legal teams to maintain both quality and consistency. A central feature is its playbook builder, enabling the creation and modification of contract review rules without needing advanced technical expertise. According to Preston Clark, CEO of SimpleDocs, the system’s intuitive design ensures that attorneys can quickly grasp and utilize its functions.
The product comes preloaded with expert-developed playbooks from Law Insider, including standardized templates like oneNDA, oneDPA, and oneSaaS. Users can further customize these playbooks to align closely with their organization’s contractual policies and precedents.
The integration of an AI chat feature within SimpleAI supports a broader document analysis, facilitating the generation of clause suggestions and contract summaries. With a focus on meeting enterprise-grade security standards, the tool is both SOC 2 and GDPR compliant. SimpleDocs offers the tool at a subscription price of $150 per user per month, with a limited free guest version available for trial purposes.
Significantly, SimpleDocs is opting for a targeted approach, addressing specific contract management challenges faced by legal departments, rather than attempting to overhaul entire contract lifecycle management systems. SimpleAI is also backed by a promise of continual evolution, with future updates to include integration with Law Insider’s contract database for market comparisons, and the introduction of customizable clause libraries.
In tandem with the tool’s launch, SimpleDocs has initiated an educational partnership with the University of Miami School of Law, providing students with complimentary access to SimpleAI for training in AI-assisted contract negotiation. This initiative underscores the company’s commitment to fostering legal expertise in AI technology among the next generation of attorneys.
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