Lexis Contract Finder Gives In-house Counsel Rapid Visibility into Hidden Risks
LexisNexis expands its portfolio for in-house lawyers to include an innovative automated contract discovery capability in partnership with Seal Software Group
LONDON, 04 May 2012 – LexisNexis UK (www.lexisnexis.co.uk), a leading provider of content and technology solutions, today announced the launch of Lexis® Contract Finder, the latest innovation in contract lifecycle management. Powered by Seal Software Group, Lexis Contract Finder searches a company's systems to identify, categorise and enable the management of contractual agreements.
It can be challenging for a business to be fully aware of their contractual obligations and to find specific agreements, clauses or terms when required. Individuals within an organization can enter into binding agreements of which the in-house counsel, financial director or risk manager is unaware, even when businesses have clear file storage policies. The first step towards greater control is to achieve full visibility of all contractual agreements, which can be very difficult. As a response to this important but time-consuming and complex task, LexisNexis has developed Lexis Contract Finder to make it easy for organisations to quickly locate, categorise and manage all their contracts.
LexisNexis director of Strategy and New Business Development, Andy Sparkes, said: "Lexis Contract Finder is a fantastic addition to our suite of exciting products designed to help in-house lawyers operate more efficiently. I am delighted with how effectively it relieves administrative burden while reducing risk and exposure, thus providing a must-have solution to many of the contract lifecycle management issues faced by internal legal teams, general counsel and finance directors."
Lexis Contract Finder searches nominated servers and systems to identify all contractual documents (including text, PDF, image and other file formats). Identified contracts are copied, tagged and filed, enabling customers to track, filter or search with ease. LexisNexis provides additional services including scanning and digitisation of paper contracts, enabling legal teams to digitise and manage their entire contract universe. The Contract Finder service helps make managing contract risk more efficient for legal teams and their commercial colleagues.
About LexisNexis Legal & Professional
LexisNexis Legal & Professional (www.lexisnexis.com) is a leading global provider of content and technology solutions that enable professionals in legal, corporate, tax, government, academic and non-profit organizations to make informed decisions and achieve better business outcomes. As a digital pioneer, the company was the first to bring legal and business information online with its Lexis® and Nexis® services. Today, LexisNexis Legal & Professional harnesses leading-edge technology and world-class content, to help professionals work in faster, easier and more effective ways. Through close collaboration with its customers, the company ensures organizations can leverage its solutions to reduce risk, improve productivity, increase profitability and grow their business. Part of Reed Elsevier, LexisNexis Legal & Professional serves customers in more than 100 countries with 10,000 employees worldwide.
In the UK, LexisNexis (www.lexisnexis.co.uk) online legal solutions include: Lexis®PSL, Lexis®Check and Lexis®Library – named Online Product of the Year at the Legal Technology Awards. Published resources include both Butterworths® and Tolley™. LexisNexis provides the most comprehensive source of legal and tax commentary in the UK.
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