Are your contracts getting lost in your inbox? Don’t waste time searching through emails manually. It is not a good use of your degree, and there is a better way.
Let us set the scene. Legal professionals often find themselves asking questions such as:
- Which contract was this from?
- Which email chain corresponds to this question?
- Where are the latest redlines, are there even any redlines?
- Who is the correct contact person for correspondence for this matter?
- What was the latest update for this file and when was it sent?
- Where in the email history is the renewal date for this contract?
Ring a bell? This is especially frustrating in time-sensitive scenarios, such as missing an automatic renewal.
Managing Automatic Renewals
Attorneys are often tasked with determining when, and if, a contract renews. Additionally, if that contract does renew, does it automatically renew? If you miss canceling a contract that automatically renews that can lead to consequences such as:
- Cost: You have now spent money on an unwanted term of a contract.
- Frustration: Facing upset from superiors over missing something that is obviously important.
- Appearing Unprofessional: This comes off as being disorganized to outside parties.
You are more likely to miss automatic renewals when they are mixed into the wild-wild-west that is likely your inbox.
AI-Powered CLM
Here is the solution: Artificial Intelligence (AI)-powered Contract Lifecycle Management (CLM).
Legal Teams that purchase an AI-powered CLM solution do not aimlessly search through emails for contracts and related information. Instead, they know important date information, including when renewals are scheduled to occur.
Additionally, teams with LinkSquares have:
- Actionable contract data
- Dashboards and reporting capabilities
- Current information on all contracts in the CLM
- An “Activity Feed” where they can view what is happening with important contracts in real-time
- A user-friendly interface
- An interface Designed by Attorneys for Attorneys- LinkSquares is designed and developed by Attorney AI Developers in collaboration with expert Data Scientists and Machine Learning Engineers.
So, what are you waiting for? Get your contracts out of your email inbox and into a cohesive and organized platform! Contact LinkSquares today to learn more.
