1 . What is Automated Contract Markup?
BlackBoiler’s Automated Contract Markup is cutting-edge technology that uses powerful AI and machine learning that is trained to instantaneously review and markup new documents in “Track Changes,” according to your company’s playbook and standards. The technology goes beyond the simple deletion and replacement of clauses, wholesale revision of clauses, and comparison to standard tools seen in other tools. Unlike other contract review tools, BlackBoiler’s patented Automated Contract Markup is entirely powered by AI and machine learning technology. There is no human in the loop.
2. What makes BlackBoiler different from other contract review products?
BlackBoiler is the first and only patented product that fully automates the contract review and markup process. BlackBoiler has been granted seven USPTO allowances, one patent allowance in Canada, and has additional patent applications pending worldwide.
3. What types of contracts can BlackBoiler markup?
BlackBoiler is contract type agnostic. We currently have customers using BlackBoiler for M&A contracts, NDAs, service agreements, MSAs, construction agreements, real estate leases, vendor agreements, clinical trial agreements, and more.
4. What types of integrations does BlackBoiler support?
BlackBoiler can integrate with any tool that can operate via email. BlackBoiler’s endpoints and APIs simply require the ability to transfer a Word document back and forth.
Two types of integrations can be done with BlackBoiler:
- A light integration via email in which any system that can send and receive Word documents can integrate with BlackBoiler as an automated user.
- A deeper integration against BlackBoiler’s OpenAPI compatible REST endpoints.
5. Is BlackBoiler difficult to learn?
BlackBoiler was built with the end-users in mind. Rather than forcing users to learn new tools or procedures, BlackBoiler works seamlessly with programs users already know how to use: Word and email — allowing users to use BlackBoiler’s powerful machine learning and artificial intelligence with little to no learning curve.
6. How can AI contract review tools allow legal teams to focus on higher-value work?
AI contract review tools like BlackBoiler can automate as much as 70% of human review time. When attorneys eliminate the need to spend hours scrutinizing every contract clause and engaging in numerous rounds of emails with the opposite party, they are freed to concentrate on matters that can provide more strategic value.
7. How does BlackBoiler’s automated contract markup technology impact the traditional contract review process?
BlackBoiler allows attorneys to spend more time working with business people on the contract’s substance, rather than the nuts and bolts. Attorneys can also focus more on their timeline on negotiations since they will spend less time bogged down in the review.
8. What are the business results for greater efficiency and cost savings using BlackBoiler?
A Global 1000 corporation using BlackBoiler’s Automated Contract Markup technology reduced its contract review time from 45 minutes to 14 minutes within six months, resulting in a 68.9% time-saving. This translates to significant savings to the bottom line. Not only does BlackBoiler provide significant savings to the bottom line, it also improves the quality of output dramatically because it ensures consistency in contract language while also reducing risk. On top of that, the tools grow smarter and increase efficiency with every use.
9. What is the implementation process?
The implementation process begins with a data transfer period where you send BlackBoiler your historically marked up contracts or tell us your company’s standard contract terms and clauses. A bespoke editing model is created using our powerful patented AI and machine learning technology. BlackBoiler’s team will then check for inconsistencies in the data and invite your team to do the same. Once the editing model is finalized, one-hour training is conducted on how to use the tool before going live.