Lexion

Description

Lexion is a Contract Management System that helps clients to manage their contract. Emad Elwany and Guarav Oberoi founded it in 2019 in the Greater Seattle Area, West Coast, Western US. It has earned the trust of the following companies: Relay, Hippo, Outreach, Brooks, Synaptics, Apptio, Work Board, and more.

Centralized Dashboard:

In Lexion it was made so that all the tasks that are going on, or tasks that are stuck can be seen at the same centralized Dashboard allowing clients to see all their tasks in the same place. Clients can see which task their team is working on and what stage it has reached, allowing clients to get all their data in single places.

In Lexion, clients can create a large number of templates and custom intake forms, which they can use as needed. Its feature of getting replies from team or individual members allow clients to consult their team members when needed, asking them about the various matters in the team that required all team members’ approvals.

In Lexion, clients can view all the contract drafts or different versions of a single contract if they need to. It stores all the data on any deal or contracts that clients can use when they have a requirement.

In Lexion when there is a need for decision the clients can ask the team members to get together in Discussion allowing all team members to talk their minds, clients can also contact their customers allowing them to take part in Discussion give their valuable opinion just by using their email. Lexion Dashboard makes various KPI reports allowing clients to see their team performance through various reports. Clients can further subdivide these reports into various types depending on task types. Lexion stores all the contracts, allowing clients to access their contracts from any device, anywhere.

Automation:

Lexion Dashboard allows clients to fully automate various functions of the dashboard allowing clients and his team to build a simple automated workflow that they require without the need for doing any practical code work. Clients can automate the whole process from approval to execution allowing clients to have a better grasp of their environment. Lexion dashboard allows clients to automate the task received from task owner and signature allows clients team to complete the automation task. 

Complete standardization of workflows enables teams to streamline work processes, as the assignments have already been determined, facilitating the assigned individuals in performing their tasks more effectively. This results in improved team productivity, as most of their tasks are automatically assigned, allowing them to concentrate on efficiently completing their work.

Intelligent Repository:

In Lexion there is an Artificial Intelligence which helps clients to organize their data in a way that if required we can easily find the data we require. Lexion Artificial Intelligence can  automatically file contracts allowing teams to get the data they require at anytime. Clients can set notification for dates of contract renewals and expirations by which they can complete their work allowing clients to always stay updated.

In Lexion, its AI enables automatic data entry by capturing key points from contracts based on templates. Thanks to its Artificial Intelligence, which can read and capture key data, the system organizes all the data to provide clients with fast and intuitive search capabilities. Through AI clients can make powerful automated custom reports allowing team members to see reports in seconds. Once saved, a data link can automatically update reports, enabling clients to easily share the report or export it to other platforms.

It AI reminds clients with notification for any contract that is about to end. It can help clients and their team members to automatically track important contracts. 

Integrations:

Lexion allows clients to integrate with the Api required by clients together which allows them to create a secure and robust integration system. It can make Lexion show a strong side allowing it to expose all the functionality in the key system.

Security: 

ISO 27001-certified data centers with physical safeguards protect the data in Lexion. Lexion hosts its server in a secure virtual private cloud allowing it to have good security. Employees receive regular security training along with background checks. The systems undergo regular vulnerability testing, and logs also undergo testing, in addition to third-party audits being conducted.

Pros:

1. Good and easy to use Dashboard.

Cons:

1. Very few integration is available for Lexion. It may cause clients to give up some of the software they are using to use Lexion .

Suggestions:

It is new software in this category but it provides all the things required by the contract management system. It has helpful customer service staff that can help you when you need it.

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