Wolters Kluwer announces enhancements to AI-Powered Legisway

Global News

14
Feb
2023

Editor

Wolters Kluwer Legal & Regulatory, U.S., has announced a suite of new and enhanced features and functions to the AI-powered version of Legisway.

The launch of these enhancements is Wolters Kluwer’s latest move to strengthen this all-in-one SaaS solution that powers enterprise legal management for corporate legal departments.

Legisway, which is also a leader in the European market, is a configurable, modular workflow solution, productivity tool, and smart repository for mid-sized corporate legal departments across several industries. The solution contains powerful contract lifecycle management and customizable modules for a wide range of workflows. The new enhancements will bolster the solution’s wide range of workflow capabilities to help users increase visibility, better manage risk, collaborate effectively with their business, and more. The new and enhanced features include:

• Workflows and Tasks Calendars: A new feature allowing for managing approvals and other tasks through a quick and easy calendar view.
• Interactive Maps: Displayed in a new, dynamic map, important data such as contract governing law or states where one is registered to do business will help visualize the business’ footprint or contact risk.
• Clause Library and Assembly Template: Users can store standard clauses in the new Clause Library for reference in negotiations and leverage the Assembly Template function to build a contract from preferred clauses, instantly merging into an executable contract document.
• Salesforce Connector: This new function allows legal professionals to seamlessly sync sales contracts and data automatically between Salesforce and Legisway, empowering the business and ensuring contracts are easily accessible so nothing is missed.
• Legal Ticketing Enhancement: Business users will be able to “ask a legal question” of their legal team with this enhancement, streamlining communication and increasing efficiency for the entire organization.
• Artificial Intelligence: Legisway’s enhanced and integrated AI allows customers to extract clauses from contacts and flag for further review, risk management, and noncompliance reporting.

“Users now have access to a suite of tools to enable more streamlined task management, faster contract drafting, and AI-powered risk management,” said Ken Crutchfield, Vice President & General Manager of Legal Markets at Wolters Kluwer Legal & Regulatory U.S. in a statement “Wolters Kluwer has a strong, longstanding track record of providing best-in-class solutions for the corporate legal market. With these new additions, we are showing our customers that we are committed to continuously improving an already powerful, intuitive solution that evolves with their needs and brings them the best possible outcomes.”

Legisway offers AI-powered contract lifecycle management (CLM) that enables document creation, editing and version control, as well as self-service templates and a legal ticketing system. Outside of CLM, users can leverage a range of modules to manage legal entities and corporate governance, intellectual property rights, legal claims, real estate, outside counsel spend, and more. The solution enables flexibility to easily create and manage custom reports, operationalize business processes and create automated alerts on key milestones, and more.

In December 2022, Wolters Kluwer announced its acquisition of Della AI Ltd., a provider of leading artificial intelligence (AI) technology based on advanced natural language processing (NLP). This technology allows legal professionals to review contracts in multiple languages by simply asking questions.