Contract Lifecycle Management Capabilities Among New HighQ Features
New contract lifecycle management (CLM) capabilities in HighQ are helping users leverage automation to strengthen workflow efficiencies, streamline contractual processes, and mitigate risk. Thomson Reuters introduced multiple enhancements to HighQ yesterday to help legal professionals better connect and simplify CLM workflows and gain full visibility across contract portfolios.
Legal Current highlights how new HighQ features can help users be more responsive and agile, and save time and resources.
- The CLM capabilities use AI-powered tools to help legal professionals tackle repetitive, labor-intensive tasks, enabling them to focus on strategic work to support clients and stakeholders. The CLM capabilities also help HighQ users proactively manage risk and obligations by better managing the key stages of the contract process: initiation, authoring, negotiation, approval, execution, ongoing management and compliance, and contract renewal.
- Core HighQ platform improvements include continued enhancements to document automation capabilities, further connecting the end-to-end CLM workflows to enable lawyers to select from numerous templates and create a collection of documents with a single click. A deeper integration allows HighQ users to track the status of signatures against each file, directly from the home page with eSignature dashboards.
“The legal industry is facing increasing complexity, from heightened efficiency expectations to constant cost-saving pressures,” said Kriti Sharma, chief product officer for the Thomson Reuters Legal Tech portfolio. “Lawyers often work in environments where finding certain documents, surfacing specific content, and ensuring nothing is missed are crucial. This kind of arduous work takes up time and energy. Fortunately, legal technology – like HighQ with expanded CLM capabilities – has advanced substantially in recent years, supporting legal professionals through workflow automation, and making success achievable in this challenging environment.”
The HighQ enhancements are the company’s latest investments in the platform, following the launch of HighQ Contract Analysis and recent integrations with Thomson Reuters products – including Practical Law, 3E, Legal Tracker, Contract Express – and outside technologies such as Microsoft Teams®. The additions also follow the acquisition of ThoughtTrace, a document understanding and contract analysis platform that strengthens the AI and analytics capabilities across Thomson Reuters.
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