Wolters Kluwer launches new AI-enhanced contract management functionality for Legisway

Rhea-AI Summary

Wolters Kluwer introduces AI-enhanced contract management features for Legisway, streamlining contract analysis and review processes for corporate legal departments. The new functionality allows users to query contracts using advanced NLP, enhancing efficiency and risk management. Integration with the Legal Services Portal module promotes collaboration and faster validation of legal support requests.

PRESS RELEASE

Wolters Kluwer launches new AI-enhanced contract management functionality for Legisway
Contract audit features accelerate contract analysis and review process for corporate legal departments

Alphen aan den Rijn – March 11, 2024 – Wolters Kluwer’s Legal & Regulatory division has launched new AI-enhanced functionality for Legisway, the company’s award-winning and all-in-one SaaS legal information and contract management solution for corporate legal departments. The new feature accelerates the contract review processes by enabling legal departments to effortlessly query their contracts using advanced natural language processing (NLP).

“Wolters Kluwer has a strong, longstanding track record of providing best-in-class solutions for the corporate legal market,” said Sergio Liscia, Vice President & General Manager of Legal Software at Wolters Kluwer Legal & Regulatory. “Legisway is already a powerfully intuitive solution, and AI-driven opportunities such as this exciting launch support evolving customer needs while delivering the best possible outcomes.”

Legisway’s new querying functionality empowers users to track contractual obligations more efficiently and better manage the legal, reputational, and commercial risks that may affect their business. Today’s enhancements also seamlessly integrate into the platform’s recently launched Legal Services Portal module – a collaborative ‘ticketing’ platform that streamlines requests for legal support from non-legal staff. This accelerates validation of new requests, promoting accelerated contract review and seamless collaboration with other teams.

“Corporate legal departments depend on Legisway to manage vital information and collaborate more efficiently across their business,” added Ken Crutchfield, Vice President & General Manager of Legal Markets at Wolters Kluwer Legal & Regulatory U.S. “Using Wolters Kluwer’s proprietary AI to grant broader visibility into contract terms provides tangible and immediate value that connects directly with the needs of our customers.”

Legisway is Wolters Kluwer’s all-in-one SaaS platform focused on the needs of the corporate law department across contracts, intellectual property, real estate, entity management and compliance. The solution offers truly flexible enterprise legal information management that can be configured, helping corporate law departments enhance collaboration with the business and minimize risk.

Approximately 50% of Wolters Kluwer’s digital revenues now come from products that leverage AI. Wolters Kluwer products, services, and expert solutions are based on a foundation of trust, transparency, and responsibility—in line with the company’s values. Wolters Kluwer’s AI Principles, which guide the design, development and deployment of advanced technologies in helping customers solve their most complex problems, can be found here. 

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About Wolters Kluwer

Wolters Kluwer (EURONEXT: WKL) is a global leader in information, software solutions and services for professionals in healthcare; tax and accounting; financial and corporate compliance; legal and regulatory; corporate performance and ESG. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with technology and services.

Wolters Kluwer reported 2023 annual revenues of €5.6 billion. The group serves customers in over 180 countries, maintains operations in over 40 countries, and employs approximately 21,400 people worldwide. The company is headquartered in Alphen aan den Rijn, the Netherlands. 

For more information, visit www.wolterskluwer.com, follow us on LinkedIn, Facebook, YouTube and Instagram.

Media Contact

Frank Ready
Senior Specialist, External Communications
Legal & Regulatory
Wolters Kluwer
Office: 717-205-3647
Email: Frank.Ready@wolterskluwer.com

 

Attachment

• 2024.03.11 Wolters Kluwer launches new AI-enhanced contract management functionality for Legisway

FAQ

What new AI-enhanced functionality has Wolters Kluwer launched for Legisway?

Wolters Kluwer has introduced new AI-enhanced contract management features for Legisway.

How does the new feature accelerate the contract review process?

The new functionality enables legal departments to query contracts using advanced natural language processing (NLP), streamlining the review process.

What benefits does the new querying functionality offer to users?

The new querying functionality empowers users to track contractual obligations more efficiently and manage legal, reputational, and commercial risks effectively.

What integration has been done with the recently launched Legal Services Portal module?

The enhancements seamlessly integrate with the Legal Services Portal module, promoting accelerated contract review and collaboration with other teams.

What percentage of Wolters Kluwer's digital revenues now come from products leveraging AI?

Approximately 50% of Wolters Kluwer's digital revenues come from products that leverage AI.