Docsum

What is Docsum?

Docsum is an advanced AI contract negotiation tool designed to enhance the efficiency of legal teams. It focuses on streamlining the contract review and negotiation process, allowing for quicker closure of deals. Docsum enables legal and sales teams to review and negotiate contracts faster by utilizing AI technology and customizable playbooks. The platform centralizes key contract data extracted from signed agreements, ensuring that teams stay aligned throughout the pre-signature and post-signature stages. While Docsum offers AI-generated guidance, it does not provide legal advice and emphasizes the importance of human review in the process.

In summary, Docsum optimizes legal team workflows by leveraging AI technology for rapid contract review, negotiation, and data extraction from signed agreements, ultimately facilitating a more efficient contract management process for in-house legal teams.

Who created Docsum?

Docsum was created by a company called Docsum, Inc. The platform is designed to help legal and sales teams accelerate contract review and negotiation processes using AI technology. While the specific founder of Docsum is not mentioned in the provided document, the company focuses on optimizing legal team efficiency by providing advanced AI contract negotiation tools tailored for in-house legal teams. Docsum emphasizes the use of configurable playbooks, cutting-edge technology, and AI-powered features to streamline contract review and negotiation, ultimately enabling teams to close deals faster and improve overall workflow efficiency .

What is Docsum used for?

• Non-Disclosure Agreements
• Pre-Signature: Review and negotiate redlines on 1st party and 3rd party paper using AI document editor and configurable playbooks
• Post-Signature: Centralize key contract data from signed agreements from various sources using AI to extract key dates, terms, and obligations
• Master Services Agreements
• Data Processing Addendums
• HIPAA Business Associate Agreements
• AI contract review and negotiation for legal and sales teams

Who is Docsum for?

• Legal professionals
• Sales teams

How to use Docsum?

To effectively use Docsum for streamlined contract review and negotiation, follow these steps:

1. Pre-Signature Phase:

   • Utilize Docsum to review and negotiate redlines on both 1st party and 3rd party documents using the AI document editor and customizable playbooks.
   • Keep your team synced throughout the review process.

2. Post-Signature Phase:

   • Create a centralized contract database consolidating key data extracted by Docsum AI from signed agreements in platforms like Docusign, Google Drive, and OneDrive.

3. Key Actions:

   • Book a demo to learn how to leverage Docsum AI for quicker contract workflows.
   • Focus on specific types of agreements like Non-Disclosure Agreements, Master Services Agreements, Data Processing Addendums, and HIPAA Business Associate Agreements.

4. Important Notes:

   • Docsum does not provide legal advice but assists in contract review with AI-generated guidance for human review.
   • Optimize your in-house legal team's efficiency by tripling workflow speed with cutting-edge technology and configurable playbooks for rapid negotiation.

5. Top Features:

   • Benefit from instant contract reviews using AI technology.
   • Accelerate negotiation processes significantly.
   • Customize contract reviews through configurable playbooks.
   • Improve legal workflows threefold.
   • Gain efficiency by reducing review time and enhancing task prioritization.

6. Pricing and Tags:

   • Explore features related to AI Contract Negotiation, Legal Contracting Workflows, Configurable Playbooks, and In-House Legal Teams.

By following these steps, you can enhance your contract review and negotiation processes, making good use of Docsum's advanced AI capabilities and customizable features.