Kim and Lexical Labs Partnership

Kim and Lexical Labs Announce Technology and Go-To-Market Strategic Alliance

Atlanta, June 05, 2024: Having collaborated on several customer use cases, Kim (www.kimdocument.com) and Lexical Labs (www.lexicallabs.com) announce a wide-ranging strategic alliance aimed at solving customer data capture, data extraction, data management, contract review, risk management, contract lifecycle management (CLM), workflow and document generation and assembly challenges.

Kim is a data capture, document generation, assembly and workflow automation platform. Lexical Labs, via its Tiro product, provides AI-backed contract review and intelligence solutions across the whole contract lifecycle. Together, Kim and Lexical Labs help customers solve numerous problems, including, for example, the three joint products described below – RepaperPro, PlaybookMaster and QuickCLM:

• Repapering
  RepaperPro - Transforming Compliance with Seamless Repapering
  An end-to-end review and repapering solution to address regulatory requirements such as the Digital Operational Resilience Act (DORA) (see this DORA Solution video - https://kim.world/LexicalLabs).
• Playbooks and Clause Libraries
  PlaybookMaster – Create, Deploy, Maintain Playbooks and Clause Libraries
  A solution that automates the initial creation, deployment and then maintenance of an organization’s playbooks and clause libraries, whilst retaining Subject Matter Expert control.
• Contract Lifecycle Management
  QuickCLM - Contracts Made Simple, Business Made Quick
  A Contract Lifecycle Management tool that is quick and inexpensive to implement, and that streamlines and expedites the end-to-end CLM process. It combines intake, workflow, automated review and redlining, document generation and assembly, contract negotiation, playbooks and clause libraries, approvals, reporting and alerts, plus a repository.

Karl Chapman, CEO of Kim said, “We first collaborated on a project that sees Tiro extract data from incoming contracts and then Kim automatically open cases in Kim. Kim then manages the end-to-end workflow and document automation process, including tracking case statuses and posting to Kim’s repository with Tiro supporting with contract negotiation. Not only did our teams work well together, but we also kept identifying other use cases and customer opportunities. This announcement formalizes what we have already been doing and allows us to offer even better solutions to customers seeking simplicity and speed.”  

Simon Black, Co-Founder and Chief Commercial Officer of Lexical Labs said, “From our first meeting and collaboration, we shared a common vision around data-driven contracting and could see obvious synergies between the two platforms. We see so many use cases for individual contracts throughout their contract lifecycle and the management of contract portfolios. We are very excited to take our partnership to the next stage.”

About Lexcial Labs

Proven with large enterprises, Lexical Labs Tiro provides AI-backed contract review and intelligence solutions, including:

• Automated contract intake and triage
• Review of contracts against policies
• Summarise key clauses
• Contract finalization using playbook and clause libraries
• Automated precedent search
• Risk scoring and reporting
• Automated extraction and export of contract metadata
• GPT and large language models integration (optional)
• Free text questions and answers on contracts
• Analytics on executed contracts

Almost anyone can use Tiro, from Legal and contract management teams, through sales and procurement teams to risk managers plus platforms and application such as Kim. Users can access Tiro in their existing platform or environment, MS Word Addin or the Trio web app.

For more information visit www.lexicallabs.com.