Top 3 Takeaways from the 2023 CLOC Las Vegas Summit
Imagine spending a week sharing ideas with some of the best legal operations minds in the world. That’s how the Evisort spent our time at the 2023 CLOC Las Vegas Summit.
After hearing so many tales of how legal professionals are working to manage their contracts while simultaneously reducing risk, driving cost savings, and being stronger partners to their businesses, we wanted to share some of our biggest takeaways from this year’s conference.
1. Generative AI Is Supercharging Contracting
The traditional, manual ways of managing contracts haven’t set legal teams (or really anyone across the business) up for success in our rapidly changing world. Lawyers and paralegals alike recognize that, to avoid being a bottleneck and become more strategic and productive in their roles, they need to leverage emerging technologies that help them manage agreements and access the data within them at much greater speed and scale.
As we announced at CLOC, Evisort has extended our AI capabilities to now provide legal-specific generative AI.
Evisort combines the power of GPT, via Microsoft Azure OpenAI Service, with our own proven, proprietary contract AI to deliver powerful new capabilities, like automated redlining and clause creation. The best part? You get all the power of our technology without any of the privacy concerns.
None of your contract data is used to train publicly available generative AI models. Instead, it is securely stored, encrypted at rest, logically isolated in compliance with Microsoft’s robust information security framework, and deleted according to its clear data retention policies.
Want to learn more about how our CLM platform allows you to future-proof your contract AI investment? Read more about Evisort's generative AI
2.Contract Service Delivery Will Never Be the Same
Some big news was shared on day 2 of CLOC: Evisort and ServiceNow have integrated workflows!
What does this mean for you? It means every employee across your entire organization can now reap the benefits of intelligent contract operations and AI-powered contract analytics.
Together, Evisort and ServiceNow allow employees to:
- Accelerate contracting
- Deliver total visibility
- Reach employees where they work
Take a minute to see all the ways this integration can transform your contract delivery processes: watch the integration video
3. The Future Is Bright for Better CLM
Enterprises across the globe recognize the need to invest in technology that enables them to treat contracts as exactly what they are: a wealth of data and information that businesses can leverage to drive growth and revenue. Evisort CEO and Founder Jerry Ting took the stage along with Tyler Marion of PwC and Greg Bennett of Workday to share insights on the latest trends in legal innovation.
Evisort empowers organizations like Workday to achieve their goals by delivering valuable connected contract data to all stakeholders. By injecting AI-powered data into existing CLM and enterprise systems, our contract lifecycle management platform:
- Improves technology ROI
- Maximizes operational efficiency
- Reduces risk across functions
As more forward-thinking leaders work to improve contract intelligence across their teams, Evisort is here and ready to turn your contract repositories into search engines, give you total visibility into your data, and deliver key analytics to drive your business forward.
To say the least, this year’s CLOC summit was a thought-provoking event. Now, armed with the knowledge of what was shared and the power of the technology at your disposal, don’t wait until next year’s conference to say you’ve invested in the future of your contracting processes.
Let’s work together to give you access to world-class generative AI, better contract delivery services, and AI-powered connected contract data so you can be the one on stage sharing your successes next year!
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