Wolters Kluwer Launches AI-Enhanced Contract Management Feature for Legisway Platform

Wolters Kluwer's Legal & Regulatory division has unveiled a new AI-enhanced functionality for its Legisway platform, offering advanced contract management solutions tailored to corporate legal departments. This innovation aims to streamline contract review processes and empower users to effectively track contractual obligations, mitigating legal, reputational, and commercial risks.

The latest feature integrates cutting-edge natural language processing (NLP) technology, enabling legal departments to query contracts effortlessly. Sergio Liscia, Vice President & General Manager of Legal Software at Wolters Kluwer Legal & Regulatory, expressed confidence in the new launch, highlighting the company's commitment to providing best-in-class solutions that meet evolving customer needs.

Become a Subscriber

Please purchase a subscription to continue reading this article.

Subscribe Now

The enhanced querying functionality of Legisway facilitates faster contract review processes, ensuring efficient management of legal documentation. Additionally, the integration with the Legal Services Portal module promotes seamless collaboration by streamlining requests for legal support from non-legal staff. This collaborative approach accelerates validation of new requests, facilitating swift contract review and collaboration across teams.

Ken Crutchfield, Vice President & General Manager of Legal Markets at Wolters Kluwer Legal & Regulatory U.S., emphasized the significance of Wolters Kluwer's AI-driven solutions in delivering tangible value to customers. By leveraging proprietary AI technology, Legisway offers broader visibility into contract terms, addressing the specific needs of corporate legal departments.

Legisway serves as Wolters Kluwer's comprehensive SaaS platform catering to corporate law departments, encompassing contract management, intellectual property, real estate, entity management, and compliance. Its flexible enterprise legal information management system can be configured to enhance collaboration with businesses while minimizing risks.

Wolters Kluwer's commitment to leveraging AI is evident, with approximately 50% of its digital revenues now stemming from AI-driven products. The company's focus on trust, transparency, and responsibility aligns with its values, reinforcing its position as a global leader in information, software solutions, and services across various professional domains.

With reported annual revenues of approximately $6 billion in 2023, Wolters Kluwer serves customers in over 180 countries, operating in over 40 countries worldwide. The company's headquarters are located in Alphen aan den Rijn, the Netherlands, where it employs approximately 21,400 people.

The launch of AI-enhanced contract management functionality for the Legisway platform underscores Wolters Kluwer's commitment to innovation and its dedication to providing comprehensive solutions tailored to the evolving needs of corporate legal departments worldwide.