Global News
Thomson Reuters announced a powerful new version of Thomson Reuters HighQ, its cloud-based productivity solution, to help users manage projects even more effectively and complete transactions much more quickly.
The new version, HighQ 5.4, allows more powerful document automation with new native Contract Express integration, as well as sophisticated, AI-driven contract analysis, new mobile applications, Legal Tracker integration, and much more.
“In July of 2019, Thomson Reuters was thrilled to acquire HighQ, an open, best-in-class platform at the heart of the legal software ecosystem,” said Irish McIntyre, head of Legal Software and Workflow for Thomson Reuters. “Now, just a little over a year later, two market-leading Thomson Reuters software products are integrated with HighQ and we are introducing the most significant HighQ release to date. There are more than 100 new features or enhancements in the latest version to solve our customers’ biggest challenges and to help them work better virtually.”
Seamless Integration of Contract Express
HighQ 5.4 brings the best of Contract Express and HighQ into a single solution, with Contract Express now powering HighQ’s Document Automation. Contract Express templates can now be associated with HighQ sites and accessed to generate documents. These documents and associated data are stored natively in HighQ, enabling the user to integrate and establish workflows, collaborate, co-author, and utilize new data-visualization capabilities.
A client, for instance, could complete an iSheet form, which would trigger the creation of a contract, along with a series of other designated actions, including creating a folder, saving the document to the folder, sending emails, and sending the contract for review and approval.
With the new AI-driven contract analysis engine, users can compare hundreds of documents against a model form to quickly identify which agreements present the most deviation from the standard form, often a proxy for risk. Documents, including contracts, can be clustered according to their similarity to quickly identify groups of documents. The contract analysis engine also can be trained to recognize new clauses, allowing customers to build their own clause banks.
HighQ 5.4 also allows customers to manage projects and processes more effectively. For example, the 5.4 release introduces sub-tasks, significantly enhancing project management capabilities for complex projects. And HighQ users can also create rules that trigger upon completion of a task, such as setting a rule to create another task or re-assign that task to someone else – all intended to keep the work and project moving along.
HighQ 5.4 allows for Legal Tracker to be integrated with the document management capabilities in HighQ. This puts enhanced tools for work product collaboration in the hands of in-house teams, increasing productivity. Legal departments can use HighQ document management to securely store and search documents and emails, control and compare versions, view audit history, and access documents offline without having to leave standard productivity tools.
The new version is a boon for client portal developers who will find tools and templates to deploy sites of all levels of sophistication much more quickly and with smart, fresh designs. There are countless customization and permission options to govern the information customers want accessible to different groups on the same site, including an ability to create different home page structures and dashboards based on the group, while still allowing granular permissions. This can be useful when dealing with multiple third parties who need to review information, for example, when managing deal rooms during the M&A process.
For law firms, HighQ delivers an intelligent process-automation and client-engagement solution that improves productivity, streamlines collaboration and accelerates the delivery of legal services. For legal departments, HighQ provides the tools needed to service legal demand, optimize team efficiency, manage and mitigate risk, and improve engagement with legal vendors.
“Our mission is to transform the way law firms and corporate legal departments work and engage with their clients and colleagues,” said McIntyre. “That’s the heart of HighQ and the spirit behind the new version of our product.”
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