Xerox Announces Strategic Partnership with LinkSquares to Deliver Contract Lifecycle Management Capabilities to Customers

Rhea-AI Summary

Xerox has announced a new strategic partnership with LinkSquares to enhance its Capture & Content Services with contract lifecycle management (CLM) capabilities. This integration aims to automate contract processes, allowing clients to efficiently scan, digitize, and manage contracts. The partnership follows Xerox Ventures' recent investment in LinkSquares, contributing to their total funding of $161.46 million and a valuation of $800 million. The collaboration promises to improve operational efficiency for clients navigating complex contracts.

Positive

• Partnership with LinkSquares enhances Capture & Content Services, adding valuable CLM functionalities.
• LinkSquares' capabilities will automate contract processes, increasing efficiency for clients.
• Xerox Ventures' investment signals confidence in LinkSquares' growth and technology.

Negative

• None.

Enhanced functionalities round out Xerox’s Capture & Content Services

NORWALK, Conn.--(BUSINESS WIRE)-- Today, Xerox announced a new strategic partnership with LinkSquares to deliver contract lifecycle management (CLM) capabilities to its customers in the U.S. as part of the company's Capture & Content Services offerings. The partnership follows Xerox Ventures’ second investment in LinkSquares earlier this year.

Xerox’s Capture & Content Services provide advanced multichannel capture and process automation, making information available at point of need to enable clients to make better informed and more proactive business decisions. The joint solution uniquely enables users to scan, digitize, transform and enhance contracts and make them available within LinkSquares CLM platform to deliver efficiency in customers’ contracting processes.

“LinkSquares is the leader in contract management, and their pursuit of customer satisfaction while automating a typically disjointed system will resonate deeply with our customer base,” said Tracey Koziol, senior vice president, global offering solutions Xerox. “By leveraging our companies’ technologies, we will enable clients across industries to operate more efficiently as they navigate complex contractual scenarios.”

With LinkSquares’ added CLM capabilities, Xerox customers will be able to:

• Replace manual contract filing within their current content management system using cutting-edge automation.
• Minimize date entry errors and limit (or eliminate) mandatory metadata or contract properties to enter at upload.
• Leverage tools for event-triggered notifications to improve management of contracts throughout their lifecycle.
• Easily draft and upload agreements using pre-approved templates, tailored drafting workflows, and a centralized Clause Library with vetted standard clauses.

“As legal teams undertake more strategic roles within their companies, many are being asked to do more, often with fewer resources,” said Vishal Sunak, CEO and co-founder at LinkSquares. “Through this partnership with Xerox, we’re empowering customers with AI technology that streamlines and automates processes for enormous savings on time and money.”

LinkSquares recently secured $100 million in Series C financing, with Xerox Ventures signing on as a repeat investor. This latest round brings LinkSquares total funding to $161.46 million, at a current valuation of $800 million. Xerox Ventures invests in early and growth-stage startups with technologies designed to increase efficiency, cost savings and revenue across multiple industries, including connected work, empowered businesses and green enterprise.

“Historically, legal departments have been among the slowest to adopt new technology when compared with other business operations,” said Chris Fisher, managing director of Xerox Ventures. “LinkSquares’ AI solution helps companies transform their legal functions, aligning with Xerox Ventures’ focus on investing in companies that will power the next generation of business solutions.”

About Xerox Holdings Corporation (NASDAQ: XRX)

For more than 100 years, Xerox has continually redefined the workplace experience. Harnessing our leadership position in office and production print technology, we've expanded into software and services to sustainably power today's workforce. From the office to industrial environments, our differentiated business solutions and financial services are designed to make every day work better for clients — no matter where that work is being done. Today, Xerox scientists and engineers are continuing our legacy of innovation with disruptive technologies in digital transformation, augmented reality, robotic process automation, additive manufacturing, Industrial Internet of Things and cleantech. Learn more at xerox.com.

About LinkSquares

LinkSquares is the company behind the AI-powered contract management platform of choice for legal teams aiming to move their business forward faster. Customers have everything they need to write better contracts, analyze what's in existing contracts, and collaborate better with their team at every step of the way. LinkSquares differs from other platforms on the market with its powerful AI insights, speed to tangible results through flexible automation, and ability to centralize everything for .better visibility and collaboration. For more information, visit https://linksquares.com.

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Xerox^® is a trademark of Xerox in the United States and/or other countries.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220921005785/en/

Media:

Callie D. Ferrari, Xerox, +1-203-615-3633, Callie.Ferrari@xerox.com

Source: Xerox Holdings Corporation

FAQ

What is the new partnership between Xerox and LinkSquares about?

Xerox has partnered with LinkSquares to enhance its Capture & Content Services by integrating contract lifecycle management capabilities.

How will the partnership with LinkSquares benefit Xerox customers?

The partnership will enable Xerox customers to automate contract processes, improve efficiency, and reduce errors in contract management.

What recent investment did Xerox Ventures make?

Xerox Ventures made a repeat investment in LinkSquares, contributing to a total funding of $161.46 million for the company.

What is LinkSquares' valuation following its recent funding?

LinkSquares has a current valuation of $800 million after securing $100 million in Series C financing.

What improvements will Xerox's new services offer?

Xerox's new services will provide automated contract management, reducing manual filing, minimizing data entry errors, and facilitating event-triggered notifications.