New version of BlackBoiler’s comprehensive automated contract markup offering dramatically accelerates speed of implementation with new playbook creation options, simplified customer interface, and new insights dashboard.
Arlington, VA – March 15, 2022 – To help legal teams increase the speed and efficiency of contract negotiations, BlackBoiler, the leading provider of automated contract review and markup technology, today announced the launch of a new and advanced platform designed for rapid implementation, a seamless user experience, and faster time to value.
BlackBoiler’s redesigned platform features a new dashboard and playbook creation options that give even non-technical users a smooth entry point to automated contract markup so they can get up and running in minutes. The dashboard provides a snapshot view of recent activities, contracts reviewed, clause libraries, users, analytics (including average editing and cycle times), and more. The tool can be used as a standalone solution or as part of a contract lifecycle management (CLM) implementation.
“BlackBoiler’s updated platform has customer-centric features, which include a completely redesigned UI/UX, allowing users to implement the platform with ease, and in a much quicker timeframe than would be possible when implementing a full CLM system,” said Dan Broderick, co-founder, and CEO of BlackBoiler. “The new features dramatically reduce the time it takes to implement and gain value from BlackBoiler’s proprietary technology, allowing legal teams to quickly drive efficiency and reduce risk in their contract review process.”
“BlackBoiler continues to advance the leading technology for automated contract markup. At Factor, we are eager to integrate this important accelerator to help drive more value that our clients trust us to deliver speed, consistency, and accuracy at scale. Put simply, we know this will help our clients transact better.” said Ed Sohn, SVP, Head of Product & Solutions at Factor.
New with BlackBoiler:
- No training data required. BlackBoiler’s updated platform allows users to log in and tell BlackBoiler how they want to edit contracts without the need for historical contracts, allowing for a quicker implementation.
- Users can quickly build a negotiation playbook right on the BlackBoiler platform to power their automated contract markup using the new playbook builder features.
- Patented AI technology automates the redlining process and speeds up the entire contract negotiation. While BlackBoiler can be integrated into a full contract lifecycle management (CLM) system, as a standalone product the updated platform provides immediate ROI while minimizing implementation and deployment challenges.
The new capabilities
- Help mitigate risk and ensure compliance by automatically incorporating organizational and industry standards and playbook guidelines during the contract redlining process.
- Streamlines procurement workflows by providing data insights into supplier trends, relationships, and capabilities, helping organizations develop data-based strategies to rapidly adapt to change.
- Anonymizes personal information to eliminate the need for an extensive security audit.
In addition to dramatically reducing cycle time for contracts, BlackBoiler’s patented AI-powered technology enables legal departments to achieve a significantly higher level of accuracy and efficiency throughout a contract’s lifecycle—from the generation of a contract to negotiation and execution of the document. BlackBoiler’s technology grows smarter and increases efficiency with every use, ultimately cutting contract review time by more than 70%.
BlackBoiler’s patented technology addresses a global, $35 billion market where companies spend $26 billion reviewing and negotiating semantically similar contracts, $7 billion of which is verbatim work.
BlackBoiler’s client roster includes organizations within the Fortune 1000 and AmLaw 25 law firms. The company holds 11 patents in the U.S. and is currently pursuing additional IP protection in the U.S., Canada, and Europe.
For more information or a demo visit blackboiler.com.
Based in Arlington, Virginia, BlackBoiler is a National Science Foundation-backed software company focused on the automation of contract review. The company’s patented automated contract markup tool is designed to work seamlessly with programs users already know how to use: Word and email. Through proprietary techniques, BlackBoiler creates client-specific editing models and leverages these models to markup inbound contracts instantaneously in the Track Changes feature of Microsoft Word. BlackBoiler grows smarter and increases the efficiency of contract review with each additional use.