The Microsoft Word integration is designed to keep you in the tool you know and love, ensuring minimal disruption in your day. Not only can you access the best features of Microsoft Word, but you can also edit, review, and approve contracts effortlessly with the power of LinkSquares Finalize. All that’s to say collaborating with your team has never been easier, and you don’t even have to switch platforms. Sounds like it can’t get any better, right? But it did. We’ve recently incorporated game-changing generative AI features to uplevel your contract reviews.
Let’s take a look at all that the Finalize for Word Add-In has to offer.
AI-powered contract review
With the Word Add-In, legal teams can review contracts in a single location and eliminate the need to upload and download agreements from the Finalize web application. When a new version is uploaded via Finalize, it automatically appears in Word, allowing you to edit, save, and update any in-flight contracts all in one place.
But reviews just got even faster with the addition of generative AI. Get insight into an agreement or redlines in an instant — the AI will review the agreement, summarize key points, and answer questions about its contents.
Why start from scratch each time you negotiate a new contract? Quickly review an AI-generated summary of counterparty redlines to understand their position and changes at a glance. Plus, you can even let AI take the first pass at drafting clauses or redlines. Just tell it what you’re looking to create, like “draft a non-compete clause”, and it will generate suggested language for you.
By embracing AI for initial contract reviews, you can better manage your time and resources, addressing the most critical issues at hand. This approach not only streamlines your workflow but also empowers you to apply your expertise where it truly counts.
Managing approvals and tasks
A large part of ensuring contracts are reviewed correctly is checking off the appropriate approvals and tasks. You can access all approvals and tasks associated with the agreement right from Word, with all actions flowing back to Finalize for crisp record keeping. Plus, if an additional task needs to be completed before sending off the agreement, include it directly from Word with the click of a button.
Working with your team on tasks is as simple as highlighting the necessary text and mentioning your stakeholder for action or approval, then the associated task will appear in the “Tasks” section so everyone’s on the same page.
Collaborating with your team
It’s unlikely that you’re working alone on every agreement, especially high-profile ones, so collaboration with stakeholders across the organization is essential. Instead of switching applications and going into your email, Slack/Teams, or even Finalize, you can contact your stakeholders from the Word Integration.
You have this ability in two different ways:
These comments will never appear in the document itself, so there is no risk of the counterparty seeing any of the internal collaboration.
Takeaways
Contract review, version control, and redlining are all seamless with the Finalize for Word Integration. And with plans to further expand generative AI capabilities across the tool, there’s no time like the present to get set up with this integration.
If you’re curious to learn more, reach out to your customer success manager or request a demo today.