Spellbook’s Autonomous Contract Management on General Release

CLM isn’t dead. But it does have a lot of competition….as Spellbook’s Autonomous Contract Management (ACM) capability goes on general release after an initial limited rollout. The contract AI pioneer – one of the first to use genAI for review – sees ACM as a major step for the company.

In fact, Spellbook explicitly states that ACM is ‘built as an AI-native replacement to legacy CLM’ – so you can’t be clearer than that!

So, what does it do? Here’s how it works:

• ‘Contracts are pulled in automatically from their source whether it be an intake form, Gmail, Outlook, or Slack, then organized and routed to the right pipeline and deal owner.
• Each contract gets a full diagnostic against a team’s playbook showing where it breaks from standards, where the risks sit, and what to do next.
• Routine agreements that meet set standards are marked ready to approve, while everything else gets flagged with concise suggestions to navigate any remaining issues.

And then:

• During negotiation, each deal lives in a central workspace where teams can track versions, compare contracts side by side, assign owners and approvers, and see all deal history and communications.
• For contracts that need multiple approvals, you can collaborate with your team in the same document.
• Counterparty redlines are reviewed automatically as they come back. Lawyers can prompt Spellbook to redline or revise, with every edit showing as a tracked change. 
• And finally, after signature, agreements are stored automatically in a searchable repository. Teams can build tabular reports, build custom columns with AI and get answers cited back to the source.’

In short, it really is an all-singing, all-dancing contract platform – which, by design, could potentially replace some of the CLM systems that inhouse teams currently have.

Scott Stevenson, Co-Founder and CEO of Spellbook, commented in terms how ACM helps: ‘It’s the sales deal that’s at risk slipping past quarter-end, or the vendor agreement nobody checked that ends up costing six figures.

‘ACM starts reviewing the moment a contract hits the inbox, with no prompt needed, and routes it where it needs to go. It’s always on, so contracts keep moving and revenue doesn’t stall.’

And here’s a video AL and Scott made over a very hot summer when ACM was first shared with a select group of customers.

More about Spellbook ACM here.

Also, look out for a special webinar with Spellbook and Artificial Lawyer later this month!

—

Legal Innovators UK – Nov 4 and 5 / Legal Innovators New York – Nov 17 and 18

Cosmonauts have now opened Express Registration for Legal Innovators UK and New York. This means that if you are at a law firm or at an inhouse legal team you can now zoom directly to your tickets – which are complimentary as long as you qualify.

For London – Nov 4 and 5, at the Minster Building, see here:

And, for New York – Nov 17 and 18 – Midtown, please see here: