One solution, two modes. Pre-screening: Portfolio AnalysisView Transcript
Contract Counsel is a sophisticated contract risk analysis solution that brings together PwC’s unique combination of legal expertise, legal operations experience and technology excellence, to optimise contract review across the entire contract life-cycle.
It leverages powerful semantic analysis and machine learning algorithms to understand the context of an agreement in its entirety and then conducts a granular risk analysis at a sentence by sentence level in accordance with your risk playbook and the training provided by PwC UK.
Available in two modes, Pre-screening & Portfolio Analysis, Contract Counsel caters for both individual contract review prior to signing and a mass review of contracts during negotiations or remediation exercises.
Our lawyers understand the challenge of unlocking efficiency as well as the complexity of driving change; we use Contract Counsel to solve this fundamental problem.
Enhanced worklfow and collaboration features
Better risk management
Significant time saving
Concrete audit trail
Standardised risk review process
Reporting analytics and visualisations
Contract Counsel analyses one contract at a time and assists your lawyers (and those with delegated authority) by highlighting which clauses and provisions fall outside the contractual risk parameters of your organisation, prior to the contract being signed. In addition to delivering a ⅓ time saving (compared with a 2 year PQE lawyer), because your organisation’s risk appetite is codified in software it means work can be delegated to less experienced teams. Enabling your people to spend their valuable time on higher value work.
Contract Counsel analyses the risk across huge volumes of contracts. Providing detailed risks scores that are relevant to the particular due diligence or executed contract remediation exercise at hand.
Legal teams are under constant pressure to cut costs and deliver more with fewer resources. One way in which they do this is by delegating de minimis responsibilities to other business functions, like procurement. Contract Counsel facilitates this shift by enabling an easily managed and standardised contract risk review process prior to signing whilst maintaining close collaboration with your legal team.
In-house legal functions often review hundreds of the same contract type weekly, absorbing a substantial amount of their time. Contract Counsel’s ability to analyse multiple contract types and receive on the job top-up training by your lawyers results in the algorithm being tailorable to the specific contracts you come into contact with frequently. It enables a ⅓ time saving in the review process; allowing your lawyers to focus on greater priorities.
Partner, PwC United Kingdom