Agiloft will acquire Screens to provide AI-powered contract reviews for contract lifecycle management

Agiloft, a leader in data-first contract lifecycle management (CLM), is acquiring Screens, a standards-based and community-supported generative AI contract review and redlining solution that will allow legal times to review and mark up documents faster.

“We are excited to welcome Screens to the Agiloft team,” said Eric Laughlin, CEO at Agiloft. “With Screens’ contract review technology available both integrated into our platform and as a standalone solution, businesses everywhere will have a data-driven, community-supported, and standards-based way to accelerate their business. It is a pivotal moment for Agiloft, and we are ready to engage the legal community to set a new standard in how companies manage their contracts.”

According to the companies, this strategic acquisition will enhance Agiloft’s Data-first Agreement Platform and contract management capabilities, by standardizing the contract review process, promoting consistency, and unlocking the value of contract data with the collective expertise of a global community of legal professionals.

With Agiloft and Screens’ data-driven contract standardization solutions, legal teams will be able to leverage:

• Standards-based reviews and redlining: Using an easily-configurable playbook (a Screen), customers can rapidly assess whether a contract, and its constituent parts, meet pre-defined internal standards, and receive GenAI-driven suggestions to shift failures to successes.
• Community: Screens playbooks are not limited to only those created by customers. A community of Screens creators publishes an array of expertly-crafted playbooks, freely available to Screens users, that can be used to evaluate contracts based on the knowledge of experienced experts. Customers may also choose to list their own playbooks for reuse by the broader user community.
• Market data: As playbooks are used by Screens users, the system tracks pass and failure rates. This gives users context: if a particular clause regularly passes, users can assume that it is an industry standard worth insisting on, and if it regularly fails, users can assume what should be avoided or eliminated.

Redlining digital contracts is a complex, time-consuming and inefficient process. Screens provides an innovative approach to contract review with its customizable playbooks designed to assess contracts against defined standards, without requiring the creation of a bespoke clause library, according to the company.

These playbooks are based on defined contract standards and can be built by customers as needed. The Screens community features recognized legal experts, whose freely available playbooks can be used by any customer, providing the ability for organizations to evaluate a contract’s compliance against criteria created by individuals with deep domain experience.

“Legal teams are under constant pressure to move quickly while ensuring that contracts meet the highest standards,” said Otto Hanson, Founder of Screens. “By joining Agiloft, we are accelerating the impact of our AI-driven contract review technology. Together, we will provide organizations with a seamless, end-to-end solution that streamlines contract management from start to finish. We are excited about the future and the opportunities to create even more value for customers.”

Screens’ AI contract review platform streamlines the entire contract review process to deliver expert-crafted AI contract playbooks, giving lawyers and in-house legal teams the ability to scale knowledge, speed efficiency, and standardize best practices.

In addition to offering Screens as a standalone solution easily incorporated into any organization, Agiloft will integrate its AI-powered contract review solution into its core Data-first Agreement Platform.

According to the companies, this powerful combination will enable legal teams to significantly enhance and fully automate AI-driven data-first contract management without the inefficiencies and risks associated with traditional contract management processes.

For more information about this news, visit www.agiloft.com.