LexCheck is a leading artificial intelligence (AI)-powered contract acceleration and intelligence platform that helps businesses streamline and accelerate the contracting process. The company's award-winning technology utilizes natural language processing (NLP) and machine learning to automate contract reviews, providing redlines, comments, insertions, deletions, and identifying deviations from preferred contracting standards.
LexCheck's solution revolves around digital playbooks that encapsulate industry best practices or customized contracting standards. These playbooks enable near-instantaneous contract reviews, ensuring adherence to the business's negotiation positions while mitigating risk. The platform can be easily implemented, requiring only 24-50 sample documents to develop custom playbooks, significantly less than competing solutions.
LexCheck's AI technology delivers comprehensive contract analysis, flagging inconsistencies, errors, and omissions. It can automatically revise and mutualise provisions, generate clauses on demand, and provide lists of defined terms and cross-references. By automating these time-consuming tasks, LexCheck enables legal teams to reduce contract review time by up to 90%, accelerating revenue generation and business decisions.
The company has experienced significant growth, tripling its customer base in the last year alone. As of December 2022, LexCheck served clients across more than 14 industries, including some of the world's largest financial institutions, fastest-growing technology providers, and top law firms.
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