Contract Pod Technologies Limited: Improving the Efficiency of Legal Teams with Comprehensive Contract Management
Sarvarth Misra
Co-Founder and Co-CEO
In today's fiercely competitive business landscape, in-house legal departments are confronted with an increasing number of legal, financial, compliance and business pressures that drive them towards the digital transformation of their legal and contracting functions. The increased volume of contracting within businesses is placing unprecedented demands on legal teams; in-house counsels are turning to contract management solutions to enhance their capabilities in contract automation, workflow and approval management and overall contract lifecycle management.
However, even with this technology becoming more commonplace in the market, many in-house legal teams still operate out of highly manual contracting processes and fear transitioning to a digital platform. Furthermore, those that adopt electronic contracts also grapple with the lack of centralized storage for the capturing and tracking of key contract data. Perfectly understanding these concerns, London headquartered Contract- Pod Technologies steps forward to address them with a complete suite of Contract Solutions and legal software, to help legal teams improve efficiency, contain costs and reduce risks over the lifecycle of their contracts.
Delivering Contract Solutions as a Managed Service
Founded in 2012 as an alternative legal services provider, ContractPod focused on providing legal support to large international corporations and leading law firms. With a vision to help these organizations to function more efficiently and cost-effectively, New-Galexy works with them to streamline their contracting function, bring more scalability to their legal teams, and lower the legal costs without compromising on quality.
NewGalexy has thus developed its Managed Services Solution Suite with a focus on Contract Solutions and Contract Risk Management."With Digital Transformation being a common theme today, most legal businesses are looking to digitalize and automate their contract management function to improve their efficiency" explains Sarvarth Misra, Founder & Director. "ContractPod Ai is at the forefront of meeting these demands with its end-to-end contract management systems provided on a fixed, annual SaaS cost basis with minimum implementation," he adds.
" ContractPodAi is at the forefront of meeting contract management demands with its end-to-end contract management systems provided on a fixed,annual SaaS cost basis with minimum implementation"
In order to empower in-house Counsel teams to lead legal transformation within their function and for the overall business, the company’s flagship product–Contract-PodAi acts as an end to-end artificially intelligent contract solution. Having partnered with IBM Watson to provide the most effective AI technology for Contract Management, ContractPodAi is embedded with AI capabilities to read, analyze and interpret legal language within legal documentation as well as automatically abstract all key legal obligations and other pre-defined commercial information from contract documentation. The solution also allows customers to define their exact workflow and approval systems to manage all parts of a contract lifecycle. Furthermore, Contract- Pod also provides a virtual contract assistant service that combines AI capabilities with the quality control provided by its legal engineering team to create a cost-effective and dynamic managed service offering.
Investing in AI and Blockchain for Smart Contracting
Since its inception, ContractPod has grown by leaps and bounds and has witnessed exponential growth in the past three years. Having catered to some of the world’s largest legal corporations, the company hopes to now expand its US operations. On the product front,New-Galexy intends to further enhance its AI offerings as well as develop a smart contracting platform to support Blockchain transactions, in the upcoming future.
" ContractPodAi is at the forefront of meeting contract management demands with its end-to-end contract management systems provided on a fixed,annual SaaS cost basis with minimum implementation"
In order to empower in-house Counsel teams to lead legal transformation within their function and for the overall business, the company’s flagship product–Contract-PodAi acts as an end to-end artificially intelligent contract solution. Having partnered with IBM Watson to provide the most effective AI technology for Contract Management, ContractPodAi is embedded with AI capabilities to read, analyze and interpret legal language within legal documentation as well as automatically abstract all key legal obligations and other pre-defined commercial information from contract documentation. The solution also allows customers to define their exact workflow and approval systems to manage all parts of a contract lifecycle. Furthermore, Contract- Pod also provides a virtual contract assistant service that combines AI capabilities with the quality control provided by its legal engineering team to create a cost-effective and dynamic managed service offering.
Investing in AI and Blockchain for Smart Contracting
Since its inception, ContractPod has grown by leaps and bounds and has witnessed exponential growth in the past three years. Having catered to some of the world’s largest legal corporations, the company hopes to now expand its US operations. On the product front,New-Galexy intends to further enhance its AI offerings as well as develop a smart contracting platform to support Blockchain transactions, in the upcoming future.
