LinkSquares, a contract lifecycle management and analysis company, today announced several new features, including Strategic Values, which are expertly selected terms used in Linkquares’ AI-powered Analysis – Reveals and extracts product topics in contracts that relate to important topics like GDPR, HIPAA, mergers and acquisitions, and more.
The company also announced DocuSign integration for customers of its contract drafting and review product Finalize, as well as a native application for Salesforce that will simplify the creation and approval of sales contracts between Salesforce and Finalize.
Tim Parilla, who joined LinkSquares last month after seven years as General Counsel for DraftKings, where he was the company’s first in-house attorney and a Client of LinkSquares and a member of the Advisory Board.
Linksquare’s new strategic values are special lists of values that LinkSquares customers use to quickly track and uncover insights, respond to business needs, or create custom reports or dashboards.
They are based on more than 50 Smart Values from LinkSquares. This is vital data that LinkSquares’ AI extracts from each contract. However, they contain 73 new strategic values that are tailored to specific business problems.
The strategic values are designed to help organizations quickly extract critical data to ensure compliance, assess risk, protect critical assets and intellectual property, understand key commitments, renewals, and business conditions.
LinkSquares’ core technology is designed to use AI to extract certain relevant information from contracts and link it to specific conditions or problems, such as: B. Whether one party may assign an agreement without the consent of the other party.
According to Parilla, these new strategic values are custom value sets designed to address specific issues. This allows a company to go through a number of documents and find the regulations it would need for a merger and acquisition, for example.
One benefit for a company in using these strategic values is that it eliminates the time it would take to develop and train a custom value set, Parilla said, which can sometimes take weeks.
While LinkSquares plans to add more strategic values over time, they target nine use cases as of today:
• Compliance with the GDPR.
• HIPAA compliance.
• CCPA / CCPR compliance.
• Mergers and Acquisitions.
• Nondisclosure Agreements.
• Gramm-Leach-Bliley act.
• LGPD (Brazil’s General Data Protection Act).
DocuSign and Salesforce
Regarding LinkSquares’ new DocuSign integration, Parilla described this as “pretty fancy”. It allows someone working on a contract in Finalize to send the document with essentially one click for all the required signatures and then automatically track the status of the signatures and populate signed documents back into Finalize.
“From the first draft contract to the signed version, they’re right in front of you in a folder that you can move or archive to wherever you need to,” said Parilla.
The LinkSquares Finalize native application for Salesforce is designed to ensure sales teams have the flexibility to create, review, and approve contracts within the platform and workflow of their choice.
For example, the seller can create the draft in Salesforce and then send it to the in-house attorney to view in Finalize. If you have to go back and forth while designing, you can easily do so between the two platforms. When it is ready to be signed, they can use the DocuSign integration.
“Contract management platforms must be fully integrated with business processes and enable companies to work where they work, with existing systems and in the context of their roles, in order to get the maximum benefit from each platform,” said Vishal Sunak, CEO and co-founder of LinkSquares.
“Our native Salesforce application helps teams accelerate deals and provides full connectivity to support business functions without ever leaving the platform,” said Co-Founder and CEO Vishal Sunak in a statement. “The new strategic values provide executive insights, which avoids lengthy review processes and gives companies advanced data to identify strategic opportunities.”
See also: On LawNext: Vishal Sunak, CEO of AI Contract Management Company LinkSquares.