CHICAGO (PRWEB) May 19, 2020
Legal technology provider Exigent today announced its flagship Contract Management Solution (CMS) has been ranked Band 1, the highest honor, in the Chamber and Partners’ Alternative Legal Service Providers Guide in the Contract Lifecycle Management (CLM) category. This Guide marks Chambers’ first dedicated report on the alternative legal services provider (ALSP) industry and identifies the leading providers across three core areas of the alternative legal services sector: Flexible Legal Staffing, Contract Lifecycle Management, and Litigation Services.
Recognizing the vast array of options on the market, the Chambers team, along with 200+ researchers, conducted thousands of interviews in 20+ languages to determine the main players in the ALSP industry. They collected and analyzed independent research on each service provider, their respective clients, and third-party market insiders to determine each solutions’ technical legal ability, client service, commercial vision and understanding, diligence, return on investment, and depth of team - ensuring strong support at all levels. Through this extensive research, Exigent was selected as a leader in the industry.
Utilizing AI and contextual search for increased speed to data, Exigent's CMS automates the once costly, slow, and error-ridden manual process of contract management. Exigent's auto-extraction tool, Scarlett, is powered by a machine learning engine set up and trained by legal professionals, financial experts, and data scientists, creating faster and more accurate outcomes. The solution extracts smartly selected business and legal terms quickly, automatically placing them into a data lake - making key data accessible at all times in a universal format and transforming contract management from being a simple document management process to a live, strategy-making machine. All extracted information is then aggregated on dashboards or included in easily buildable reports in seconds enabling clients to convert unstructured contract documents into structured enterprise data.
“It’s an honor to be acknowledged by Chambers for our commitment to automating and streamlining contract processes during all key stages,” said David Holme, CEO of Exigent. “The key to making meaningful business decisions is data. And legal has so much of it. Unfortunately, not all companies truly realize real value. Luckily, we work with in-house leaders and experts that understand the urgent need to provide a flexible, scalable, and culturally aligned contract lifecycle management solution to our customers. We put the best legal minds, business professionals, and machine learning experts together to create a solution that combines AI and human intelligence to truly empower businesses to make better decisions," Holme concluded.
Exigent’s CMS solution allows legal teams to unlock value by shifting time-consuming and volume-intensive tasks to ALSPs. The solution serves as the cornerstone of its CLM offering, which includes obligation management, document creation, and predictive analytics capabilities.
The tool can be used by legal, procurement, and other departments across an organization to auto-extract and structure data for powerful, customized analysis. Information is aggregated and used to review and enhance performance, as well as predict business outcomes.
View the Chambers Guide here: https://chambers.com/guide/alternative-legal-services-providers?publicationTypeId=94
Exigent is a technology provider and consulting organization that is breaking industry boundaries and raising the bar for data-driven decision-making. Through a powerful combination of technology, analytical thinking, and financial acumen, Exigent's multidisciplinary team develops SaaS solutions to drive change in business and beyond. With a track record of shaking up the legal sector through the use of contract data and process optimization, Exigent provides businesses with the questions and answers they need to make the most of the digital disruption. For information about Exigent, visit http://www.exigent-group.com.
About Chambers and Partners
Chambers and Partners is the world’s leading provider of legal research and analysis. The independent research company operates across 200 jurisdictions delivering detailed rankings and insight into the world’s leading lawyers. Chambers empowers organizations to make informed decisions when selecting legal services, saving time and resources, and reducing risk. All research, analysis, and insight can be found at http://www.chambers.com.