The digitalization of processes is at the heart of Business transformation, both in their structure and in their business model. The legal sector is no exception, and offers numerous opportunities.
A sector known as traditional, legal tasks are often repetitive and time-consuming. In the all-digital age, several digital solutions are needed to revolutionizing the field of law public as well as private.
According to a study carried out by Tomorro, 64.7% of legal professionals surveyed believe that the daily workload is one of the biggest challenges in the field of law in 2024. In response to these figures, several companies have created different tools to facilitate the daily lives of these professionals. The CLM (Contract Lifecycle Management) and Autolex AI are useful tools at all stages of creating a contract or legal document. However, these two solutions have fundamentally different missions.
This article explores the main differences between these options and helps identify the most appropriate solution based on specific needs.
Contract Lifecycle Management (CLM): An agile and secure solution for legal professionals
Full name Contract Lifecycle Management, a CLM is a cloud-based SaaS application that allows store, update and automate the management of legal documents at all stages of their life cycles. The interface is designed in such a way as to provide in real time all the essential information regarding access to a document, its status, its last update, and other data relevant to legal teams.
A CLM gives numerous indicators on the progress of contracts and offers a secure platform, which ensures compliance of written contracts in professions like corporate lawyer, notary or even lawyer.
Simplify contract review with AutoLex legal AI
Autolex is an application of legal contract review, offering several functionalities in order to to analyze, edit and summarize a contract in an effective manner. Its configuration interface makes it possible to integrate a clause including all the desired clauses in the contracts. This configuration will serve as a basis for analyzing all contract information and receiving recommendations on preferred clauses, or risky clauses.
Thanks to its AI trained on a vast quantity of legal data, AutoLex Is capable to analyze and interpret all the information in a contract, regardless of the number of pages. Thanks to the “Key Questions” feature, it is possible to determine questions that AutoLex can answer directly from the contract information. Available in the form of a Chrome extension, the analysis is all the more simple and adaptable to any document format.
Autolex therefore makes it possible to save considerable time, whether in reviewing or drawing up a contract, for all types of professions, such as notaries, corporate lawyers or even lawyers.
Understand the differences between CLM and Autolex for effective synergy
In short, these two solutions make it possible to gain clarity and a considerable amount of time in contract management. However, each one is more or less adapted to each professional context.
Indeed, CLM is a cloud solution, offering an easy to use interface and which makes it possible to improve The organization of contracts throughout their life cycles. On the other hand, Autolex is a software based on AI technology, aimed at saving time On the tasks the analysis, the drafting and revision of legal contracts.
Since these two solutions do not deal with issues of the same nature, they can be complementary in contract processing.
Choosing between CLM and Autolex: adapting the solution to your business
So how do you choose between these two solutions? The answer is in your business! Each solution is adapted to a particular context. It is important to realize an internal audit of areas for improvement in the legal service to adopt the appropriate solution. Here are different use cases adapted to each solution. The lists are not exhaustive:
CLM use case:
- Need transfer of updated contracts with several services
- Grosse Quantity of contracts to be stored and sort
- Grant different accesses to strengthen the security of corporate data
Autolex use case:
- Large number of large files to deal with
- Routine analysis of similar files
- Staff of reduced legal services
- Recurring careless mistakes In contracts
- Need compliance and updating clauses in force
Simplified contract negotiation with AI fromAutolex
Saving time, reducing risks or even improving accuracy, AI has many advantages in negotiation, and is likely to revolutionize the way trade agreements are handled.
Do you want to integrate generative AI into your negotiation process? Autolex is a software from legal contract reviews who analyzes and compares your legal contracts with your company's strategy.
If you are interested, feel free to start your 7-day free trial just hither !
Questions/Answers
1. How do I integrate a CLM or AutoLex?
A CLM can be more difficult to integrate because it requires a lot of configurations to be effective. Autolex is used as a chrome extension, so its integration remains quite easy to achieve within a company. Watch our dedicated article if you want to understand how to effectively integrate your AI project.
2. Can AutoLex be used like a CLM?
AutoLex does not offer tools as comprehensive as CLMs in terms of contract management. However, it is possible to store your files on a Cloud base and manage them directly on the software.
3. How do I know if the solution is the best fit for my business process?
By trying the software! It is possible to try for free AutoLex, which gives you time to determine if the solution is right for you.
