Lexion Software

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Find out more:

Lexion Software

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About Lexion

Lexion is an AI-based contract lifecycle management system that helps legal teams focus on strategic work. Lawyers and other corporate leaders can utilize natural language processing technology to find the information across contracts in real-time....

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Lexion User Reviews

OVERALL RATING

Showing 3 reviews

Allyson

Company size: 201-500 employees

Industry: Information Technology and Services

Time used: Less than 12 months

Review Source: Capterra

5

Ease-of-use

out of 5
5

Value for money

out of 5
5

Customer support

out of 5
5

Functionality

out of 5

September 2021

Great solution, easy to use.

Pros

The data we wanted to track about our various contract types is readily available to all stakeholders. It is integrated with DocuSign and Salesforce.

Cons

We would like the AI to start recognizing the text for the custom fields we have created and to have more flexibility around document types.

Reasons for switching to Lexion

The Conga implementation failed using their implementation partner after over a year of trying. We cut our losses and moved on. We decided our most important use case was extracting data after contracting and tracking variances from our standard terms, rather than managing the negotiation process.

JENNIFER

Company size: 201-500 employees

Industry: Research

Time used: Less than 12 months

Review Source: Capterra

5

Ease-of-use

out of 5
5

Value for money

out of 5
5

Customer support

out of 5
5

Functionality

out of 5

July 2021

Honestly - Lexion has changed my life

Outstanding. The support team is incredibly responsive and helpful. I don't know that I've ever adopted a new tool this quickly or enthusiastically. I am a total fan.

Pros

Instantly impactful. Historically I have been reluctant to try new software or tools and, when I installed Lexion, I kept my existing system of record active with the intent that I would run both in parallel until I felt confident in Lexion.... this lasted not even two weeks. Almost instantly I saw the value in moving everything possible over to Lexion and felt confident that my documents would be secure and attainable. Lexion is also extremely intuitive and you don't need an expensive or time consuming implementation or consulting engagement to get started. I - by myself - integrated Lexion with my docusign account in less than 5 minutes. I initially subscribed to Lexion to assist with a project to review all of our contracts for assignment and change of control provisions. In the past, a project like this has taken weeks of time and pieces of my soul. With Lexion, this took less than two days and was drama-free. The more I use Lexion, the more I like it.

Cons

Lexion is a new product, so it is still growing its features. It does everything I need it to do, but I'm also looking forward to some of its new features as well.

Reasons for switching to Lexion

I wanted the NLP search features and reporting functionality, which I didn't have before.

Amy

Company size: 201-500 employees

Industry: Computer Software

Time used: Less than 12 months

Review Source: Capterra

5

Ease-of-use

out of 5
5

Value for money

out of 5
5

Customer support

out of 5
5

Functionality

out of 5

July 2021

Lexion continues to exceed expectations

Within a year we are already getting raves from different departments because contracts and information are so easy to find. Finance made a point to reach out and tell us that having Lexion has been extremely helpful for their annual audit. Sales can now find critical customer information easily, Procurement now has alerts for vendor renewals and on top of having all of our contracts organized in one place, Legal has already found the analytics reporting to be critical when it comes to answering typical diligence type questions. I'm looking forward to discovering even more ways this system can benefit our company. The other thing to take note about Lexion is that they are highly interested in your feedback and very open to suggestions. I can think of at least three things they implemented on the system after hearing our suggestions. We find this type of interaction and ability to have a say invaluable.

Pros

We spent nine months reviewing our options for a contract management system. We had clear top goals: an indexed repository with key info indexed for all contracts; the ability to create custom index fields; high-functioning search capabilities (across all contracts); alerts and notifications for renewals; the ability to download contracts in bulk; and of course, all while being cost efficient for the annual budget. We also had a few "nice-to-have" features such as integration with SalesForce, customizable file structure and organization, contract hierarchy visibility, text highlighting for quick reference, among others. We realized that an AI-based system was what we were looking for to assist with indexing to save time. We focused on AI-powered contract management systems and narrowed it down to 3 top candidates. During the demo phase I was impressed by Lexion for its instinctual design. It is incredibly easy to figure out and start using in a meaningful way very quickly. I was also impressed by the accuracy of the AI, it is highly reliable, however I did not expect it to be perfect and I was comfortable with verifying the AI's conclusions. All in all, we chose Lexion because it truly met all of our requirements and nice-to-haves without breaking the budget. I also resonate with their company culture, enjoy all my interactions with them, and can report that they have provided an unparalleled level of support since implementation.

Cons

Lexion doesn't offer front-end contract management just yet, but it is currently in the design phase and I am excited about having this as an addition to the repository that we wanted. I would make this recommendation to anyone who purchases Lexion: understand what information you want indexed by each type of contract that is important to your business prior to implementation. Document types can be customized with key info for indexing and it is better to know your choices before your contracts are ingested rather than after.

Reasons for choosing Lexion

Lexion offered mainly the same features as their competition, but with friendlier representatives, more customer interaction and feedback, and better prices.

Showing 3 reviews