CONVERGE
LEGO
AI-Enabled Legal Contract Management System
AI-powered legal contract system that automates drafting, approvals, and signatures with precision, speed, compliance, and intelligent decision support.
Key Features
1
Template Management
Smart Templates management where admin can define customized fields based on template requirement.
2
Automated Workflows
Defines and automates contract approval workflows. Speeds up the approval process.
3
Stamp Management
Option to Maintain Inventory of Stamps and Mapping with Contracts.
4
Digital Signature
Docu Sign, option to integrate with any other signing application also.
5
Clause Library
Admin can defined Clauses based on nature of Contracts.
6
OCR
Built-in OCR Functionality to get data from scanned documents.
7
Contract Analytics
Detailed analytics on contract portfolio. Includes contract types, values, expiration dates, compliance risks, and more.
8
Audit Trails & Reporting
Generates audit- ready reports tracking all actions throughout the contract lifecycle. Ensures transparency and compliance with regulations.
9
Data-Driven Decisions
Uses AI to identify patterns in contract negotiations and performance. Helps make data- driven decisions for future agreements.
Roadmap
Automated Contract Review
AI- powered algorithms scan contracts for discrepancies, missing clauses, or potential risks. Highlights problematic terms and suggests changes.
Risk Assessment
Identifies potential risks in clauses such as indemnity, termination, confidentiality, and compliance issues. Alerts sent to legal teams.
Monitoring
Monitors contracts for industry standards, legal changes, and jurisdictional laws. Ensures contracts remain compliant throughout their lifecycle.
Benefits
Time & Cost Efficiency
1. Automation of Routine Tasks
Saves legal team’s time. Reduces operational costs.
2. Instant Document Access
Minimizes time spent searching for documents.
Better Collaboration & Communication
1. Streamlined Collaboration Features
Enhances communication and reduces delays in contract finalization.
2. Real-time Feedback and Suggestions
Speeds up the negotiation process.
Enhanced Compliance & Risk Mitigation
1. Continuous Compliance
Ensures all contracts comply with current laws and industry regulations. Reduces the risk of legal disputes and penalties.
2. Proactive Risk Analysis
Identifies potential issues before they become problems.
Improved Accuracy & Consistency
1. AI-Driven Templates and Clauses
Ensures contracts are up- to- date and consistently formatted. Minimizes human error.
2. Automatic Suggestions and Risk Assessments
Improves the quality and accuracy of contract terms.