LOS ANGELES, Nov. 16, 2023 (GLOBE NEWSWIRE) -- LegalTech Breakthrough, a leading independent market intelligence organization that evaluates and recognizes standout legal technology companies, products and services around the globe, today announced that Lexion, the AI-powered contract management and operations workflow platform, has been selected as “Contract Management Solution of the Year” in the 4th annual LegalTech Breakthrough Awards program.
Lexion helps businesses improve their contracting processes and accelerate deals. Firms can centralize the contract lifecycle to create a single source of truth and bring legal task management and all contracts together. Utilizing AI, stakeholders are able to find the information they need fast, including key dates and terms. The centralized dashboard gives stakeholders visibility into task details, statuses, related messages, and next steps.
Lexion automates the entire contracting process, including allowing users to self-serve their own NDAs and other contracts, streamline intake and task management with email-driven workflows, and search and report on the entire body of contracts.
The solution integrates with email, Microsoft Teams and Slack, Salesforce and HubSpot, and other key systems, and is easy to self-configure without formal training or IT support. As needs and processes evolve, or as legal teams receive feedback from business users, they can easily modify and streamline their instance and workflows to meet them.
Lexion’s AI capabilities provide a state-of-the-art NLP system that is able to extract 120+ key terms and clauses. The new AI Contract Assist was among the first GPT-powered legal tools, and works to accelerate contract review, redlining, and drafting with GenAI inside Microsoft Word.
“We built Lexion to be iterative, so that companies of all sizes can immediately improve their intake, task management, and contract storage processes from day one, and then layer on more advanced modules and capabilities as needs arise,” said Gaurav Oberoi, CEO of Lexion. "It was important to us that Lexion scales seamlessly with any organization, and teams like that they can work with legal from the tools they know and love. We made it so easy that business users never even know that Lexion exists. Thank you to LegalTech Breakthrough for this important award.”
The mission of the annual LegalTech Breakthrough Awards program is to conduct the industry’s most comprehensive analysis and evaluation of the top technology companies, solutions and products in the legal technology industry today. This year’s program attracted more than 1,500 nominations from over 12 different countries throughout the world.
“Lexion, our ‘Contract Management Solution of the Year’ award winner, is addressing two key challenges in the legal tech landscape by providing incredibly fast ROI, and providing top-tier AI that really works. Contract management has been plagued by slow, complex implementation and failed adoption,” said Bryan Vaughn, Managing Director of LegalTech Breakthrough Awards. “Lexion solves these issues by streamlining and centralizing the end-to-end contract lifecycle in a system that works the way businesses do—with intuitive, email-based intake and workflows, simple no-code automation, and best-in-class AI.”
About LegalTech Breakthrough
Part of Tech Breakthrough, a leading market intelligence and recognition platform for global technology innovation and leadership, the LegalTech Breakthrough Awards program is devoted to honoring excellence in legal technologies, services, companies and products. The LegalTech Breakthrough Awards program provides a forum for public recognition around the achievements of LegalTech companies and solutions in categories including Case Management, Client Relations, Data and Analytics, Documentation, Legal Education, Practice Management, eDiscovery and more. For more information visit LegalTechBreakthrough.com
Tech Breakthrough LLC does not endorse any vendor, product or service depicted in our recognition programs, and does not advise technology users to select only those vendors with award designations. Tech Breakthrough LLC recognition consists of the opinions of the Tech Breakthrough LLC organization and should not be construed as statements of fact. Tech Breakthrough LLC disclaims all warranties, expressed or implied, with respect to this recognition program, including any warranties of merchantability or fitness for a particular purpose.
About Lexion
Lexion is a powerfully simple operations workflow platform that helps every team do more faster, by streamlining and centralizing the contracting process in a system that works the way you do. We built Lexion at Paul Allen’s artificial intelligence research institute, with an experienced team from Microsoft, Facebook, Google, and Amazon. Top AI investors (including A16Z, Sequoia, and Goldman Sachs) voted Lexion as one of the top 40 Intelligent Applications to watch in 2022. Most importantly, fantastic brands trust Lexion to help them close deals faster, such as Outreach, OfferUp, FOX Factory, and many more. Visit https://lexion.ai for more information.
Media Contact:
Bryan Vaughn
LegalTech Breakthrough
Bryan@LegalTechbreakthrough.com
949.529.4120
