AI for the Contract: Microsystems Announces Contract Companion The solution looks to help attorneys provide quality contracts and agreements amid the evolution of the legal billing model.
May 24, 2016
Reporter Ian Lopez, of Legaltech News, quotes Microsystems CEO Stacey Kacek in the feature article on the company’s recently announced Contract Companion solution, AI for the Contract.
“A major shift currently underway is that of the billing model, as clients and firms are moving toward alternative and flat-rate fee arrangements, forcing many firms to reconsider their daily workflows. To meet the needs of the modern marketplace, many legal departments are relying on technology. Microsystems recognized this reality, and in aiming to help legal departments maintain the quality of their contracts while accepting the reality of a smaller force being their creation, announced the release of its AI-driven contract solution, Contract Companion… Driving the creation of this tool was ‘the repeated demand from the legal community’ for an ‘easy to use’ solution,” Microsystems CEO Stacey Kacek told Legaltech News.
“We apply ADI to enhance (not replace) the lawyer’s judgment and to automate the tedious low value, nonbillable tasks,” Kacek noted. “Contract Companion cuts the proofreading time to create final, flawless documents to one-tenth what was once required.”
About Microsystems Established in 1995, Microsystems is the leading provider of ADI (Artificial Document Intelligence) solutions for the legal and life sciences industries. Leveraging patented technology across a suite of five core products, Microsystems ADI optimizes all stages of the document production lifecycle, improving content quality and formatting, mitigating risk, identifying errors and inconsistencies, and increasing productivity and efficiency. Today, Microsystems supports more than 650 document-intensive enterprises worldwide with industry-leading products and unparalleled 24/7 customer service to satisfy the most complex client demands. For more information, please visit microsystems.com.