Using PrizmDoc Editor to Improve Contract Automation
Contract automation is essential for a variety of businesses. Whether it’s securing a business partnership or signing on a new client, nearly every business must have contracts in place to operate efficiently. Contracts help professionals ensure that expectations are understood and met in any business arrangement. However, legal professionals need more contract automation than most.
In the legal industry, contracts are standard. While these documents may be common, the creation process is often manual. That’s why legal professionals need an automation solution to manage legal obligations and opportunities. When it comes to file types, Word documents are standard in the field. However, pertinent information can often be trapped in an older file format, which adds undue complexity to the contract creation process.
Accusoft’s client, LegalSifter, uses PrizmDoc Editor to fill this gap. As an AI and legal expertise technology company, LegalSifter empowers legal professionals with artificial intelligence to make the process of reviewing and editing contracts simple, affordable, and efficient.
Integrating PrizmDoc Editor into LegalTech
LegalSifter needed an integration that would work with their AI to sift through documents and capture legal concepts with curated help text. They needed a solution that was able to render any Microsoft Word format within their application quickly.
LegalSifter was impressed with PrizmDoc Editor’s look and feel, but the product’s other features were above and beyond what competitors were offering. “We had to determine if the product would work with our AI sifters.They need to be able to perform with the same accuracy, and any integration needed to respond as well or better than the solution we had in place. We were very pleased with the baseline performance in testing, and it made a huge difference that Accusoft was willing to do a Statement of Work (SOW) to give us the confidence we needed to move forward,” states Stefanie Zukowski, Director of Operations at LegalSifter.
LegalSifter integrated PrizmDoc Editor and worked with Accusoft’s development team to enhance their existing solution with a tool that could render a large variety of Word documents, helping their technology to sift through contracts, identify redlines, and add suggested clause solutions for a revision. LegalSifter’s end-users needed to be able to upload a document, understand the redlines, and take action to fix the clauses.
“Having direct access to Accusoft’s engineers helped us move quickly, especially during rollout. The PrizmDoc Editor team hopped on calls, even late at night, so we were able to roll out the integration on time for our customers,” states Zukowski.
Using PrizmDoc Editor to Streamline Content Creation
PrizmDoc Editor helped LegalSifter streamline its contract automation functionalities. The use case was unique to their LegalTech solution, but solves a major challenge in the market. LegalSifter needed the ability to programmatically retrieve the raw text of a Microsoft Word document. This raw text would feed the company’s AI-powered sifters that determines if the contract includes all of the necessary clauses.
LegalSifter also needed a way to programmatically insert comments into a document at a specific location in the text after the sifting was complete. After PrizmDoc Editor was integrated, the technology now presents the contract to the end-user with comments inserted from the extracted text. These comments identify legal concepts, provide help text, and even recommended language.
PrizmDoc Editor is able to programmatically track changes to comments made while the user is editing a document. This enables LegalSifter’s technology to keep track of who made changes to what comments. The integration helps the user resolve, unresolve, and delete comments as a batch. When a user decides that the contract is final, they can resolve all of the comments in the contract and output the final agreement.
Empowering LegalTech Innovations
LegalSifter helps its end-users identify the redlines and uses its AI sifters to identify legal concepts. PrizmDoc Editor is used for the rendering and editing of the documents, with the AI sifter expertise in context. Using PrizmDoc Editor, the end-user is able to paste suggested clause content into the contract, and it’s added as an in-text comment. The user can highlight the clause as well to let other collaborators know what’s changed.
LegalSifter is now able to provide an end-to-end contract automation solution to its end-users with the help of PrizmDoc Editor. To learn more about this integration’s expertise with contract automation, read the full LegalSifter case study now.