LinkSquares, a contract lifecycle management and analysis company, is unveiling several new features today, including Strategic Values, which are sets of expert-selected terms to help its AI-powered Linksquares Analyze product uncover and extract topics in contracts related to key issues such as GDPR, HIPAA, mergers and acquisitions, and more.
The company also announced DocuSign integration for customers of its Finalize contract drafting and review product and a native application for Salesforce that is designed to simplify creation and approval of sales contracts between Salesforce and Finalize.
I was given a briefing on the announcements yesterday by Tim Parilla, who last month joined LinkSquares as chief legal officer after seven years as general counsel for DraftKings, where he had been the company’s first in-house lawyer and was a customer of LinkSquares and a member of its advisory board.
Linksquare’s new Strategic Values are dedicated lists of values for LinkSquares customers to use to quickly track and uncover insights, respond to business needs or create custom reports or dashboards.
They are based on LinkSquares more than 50 Smart Values, which are key pieces of data that LinkSquares’ AI extracts from every contract, but they incorporate 73 new Strategic Values tailored to specific business issues.
The Strategic Values are designed to help companies quickly extract key pieces of data to ensure compliance, evaluate risk exposure, protect important assets and intellectual property, understand key obligations, renewals, and terms and conditions.
LinkSquares’ core technology is designed to use AI to pull specific relevant information out of contracts and associate it with particular terms or issues, such as whether a party may assign an agreement without consent of the other.
These new Strategic Values, Parilla said, are custom sets of values designed to address specific issues, enabling an organization to go through a set of documents and find the provisions it would need to know for an M&A, for example.
One advantage to a company in using these Strategic Values is that it eliminates the time that would be needed to develop and train a custom set of values, Parilla said, which can sometimes take several weeks.
While LinkSquares plans to add more Strategic Values over time, as of today they target nine use cases:
• GDPR compliance.
• HIPAA compliance.
• CCPA/CCPR compliance.
• Mergers and acquisitions.
• Non-disclosure agreements.
• Gramm–Leach–Bliley Act.
• LGPD (Brazil’s general data protection law).
DocuSign and Salesforce
With regard to LinkSquares’ new DocuSign integration, Parilla described it as “pretty slick.” It allows someone working on a contract within Finalize to send the document out for all required signatures with essentially one click, and then automatically track the status of signatures and repopulate signed documents back into Finalize.
“From the very first draft of the contract to the signed version, they’re right in front of you, in one folder that you can move or archive to wherever is needed,” Parilla said.
The LinkSquares Finalize native application for Salesforce is intended to ensure that sales teams have the flexibility to create, review and approve contracts within the platform and workflow of their choice.
For example, the sales person can create the draft in Salesforce and then send it to the in-house attorney to view in Finalize. If they need to go back and forth on the draft, they can easily do so between the two platforms. When it is ready for signature, then they can use the DocuSign integration.
“Contract management platforms need to be fully integrated into business processes and specifically enable the ability for companies to work where they work, with existing systems and in the context of their job roles to get the most benefit out of any platform,” said Vishal Sunak, CEO and co-founder of LinkSquares.
“Our native Salesforce application helps teams accelerate deals and provides full connectivity to supporting business functions without ever leaving the platform,” cofounder and CEO Vishal Sunak said in a statement. “The new Strategic Values deliver executive-level insights, which avoids lengthy review processes and gives businesses more advanced data to identify strategic opportunities.”