Company: ContractPodAi
Nomination Submitted by: Kickstand Communications
Company Description: Well-established as the leader in end-to-end contract lifecycle management, ContractPodAi harnesses the unrivaled AI power of IBM Watson and Microsoft Azure for leading corporations around the world. Now, the platform's robust, intuitive, and easy-to-use capabilities have been extended to handle the entire, end-to-end legal lifecycle – any use-case, any document type, any scenario. ContractPodAi
Nomination Category: Company / Organization Categories
Nomination Sub Category: Company of the Year - Legal - Medium-size
 Nomination Title: ContractPodAi
- Which will you submit for your nomination in this category, a video of up to five (5) minutes in length about the achievements of the nominated organization since 1 January 2020, OR written answers to the questions for this category? (Choose one):
- If you are submitting a video of up to five (5) minutes in length, provide the URL of the nominated video here, OR attach it to your entry via the "Add Attachments, Videos, or Links to This Entry" link above, through which you may also upload a copy of your video.
- If you are providing written answers for your submission, you must provide an answer to this first question: Briefly describe the nominated organization: its history and past performance (up to 200 words):
Total 199 words used.
Well-established as the leader in end-to-end contract lifecycle management, ContractPodAi harnesses the unrivaled AI power of IBM Watson and Microsoft Azure for leading corporate legal teams around the world. The platform's intuitive, and easy-to-use capabilities have been extended to handle the entire legal lifecycle – any use case, any document type, any scenario. ContractPodAi was created as a one-stop-shop solution to assist in-house legal teams in contract management and mitigation. By automating mundane tasks, providing powerful insights using AI engines, and helping attorneys improve the quality of risk level assessments and compliance, ContractPodAi was able to establish itself as a leading innovator within the legal technology space. ContractPodAi Cloud amplifies businesses’ readiness through partnerships with complementary technology providers, including IBM, Microsoft, DocuSign, and Salesforce. The company is headquartered in London and has global offices in San Francisco, New York, Glasgow, Chicago, Sydney, Mumbai, and Toronto. ContractPodAi is the recipient of several awards and was named a Visionary in the 2021 Gartner Magic Quadrant report for Contract Lifecycle Management. In order to continue shaping digital transformation in the legal industry, the company secured $115M in fresh Series C funding — led by the SoftBank Vision Fund 2 — in 2021.
- If you are providing written answers for your submission, you must provide an answer to this second question: Outline the organization's achievements since the beginning of 2020 that you wish to bring to the judges' attention (up to 250 words):
Total 250 words used.
In 2021, ContractPodAi launched ContractPodAi Cloud, expanding beyond contract lifecycle management (CLM) with ‘One Legal Platform.’ The pioneering, unified system has supported the company’s mission to streamline in-house legal processes and improve efficiencies within the law department. In 2022, the company expanded ContractPodAi Cloud even further to include pre-built applications, such as corporate governance and litigation, right out of the box. Its innovative, no-code platform now allows legal and other teams to manage any legal scenario through pre-built or configurable apps. In addition, ContractPodAi increased its core functionality to include thousands of key data points, which can be applied to CLM and other legal use cases. Its foundational features, such as risk and compliance, legal AI review, and smart task manager, have been built on these extensive key legal obligations, which have facilitated users’ high-level, strategic actions. Recently, the company adopted Claustack’s OneDPA project, in which the legal and contract drafting community comes together to streamline wider legal and operational processes, creating better ways of working. Given the potential regulatory changes around the world, OneDPA also helps users better navigate the data protection landscape, reducing the time and costs associated with increasingly complex agreements. ContractPodAi has been able to scale and grow its business continuously. In 2021, alone, ContractPodAi’s employee headcount increased by nearly 70 percent and is expected to grow another 45 percent in 2022. ContractPodAi also won the 2022 Big Innovation award and has been a finalist for Legal Innovation’s Innovation Trailblazer Award for 2 consecutive years.
- If you are providing written answers for your submission, you must provide an answer to this third question: Explain why the achievements you have highlighted are unique or significant. If possible compare the achievements to the performance of other players in your industry and/or to the organization's past performance (up to 250 words):
Total 189 words used.
Knowing that change was needed in the legal industry, ContractPodAi co-sponsored the Blickstein Group’s 2021 Law Department Operations (LDO) Survey. Legal operations professionals told the Blickstein Group that they face three main challenges around current law department functions. Nearly 60% of respondents ranked business process improvements as the number one issue, above keeping an eye on the bottom line (49.3%) and managing legal digital transformation (35.8%). Combine this data with the fact that the average Fortune 2000 company maintains between 20,000 and 40,000 active contracts, at any given point in time, and the potential impact of ContractPodAi’s innovation is clear. By storing and evaluating documents in a singular system of record, ContractPodAi’s One Legal Platform serves as a solution to outdated, time-consuming storage methods, while allowing for easy access to legal documents across an organization. Ultimately, ContractPodAi has significantly improved the legal industry by creating a singular platform that allows leaders to automate tasks, analysis, and insights within their organizations. Its technology leverages the full benefits of technological developments, like no-code applications and artificial intelligence, enabling legal teams to invest more time in higher-value work.
- You have the option to answer this final question: Reference any attachments of supporting materials throughout this nomination and how they provide evidence of the claims you have made in this nomination (up to 250 words):
Total 7 words used.
https://view-su3.highspot.com/viewer/627baebc115fe5f437835ba8
https://youtu.be/tZl5XVU8RnY
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