Lexion
About Lexion
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Most Helpful Reviews for Lexion
3 Reviews
Allyson
Information Technology and Services, 201-500 employees
Used daily for less than 12 months
OVERALL RATING:
5
EASE OF USE
5
VALUE FOR MONEY
5
CUSTOMER SUPPORT
5
FUNCTIONALITY
5
Reviewed September 2021
Great solution, easy to use.
The data we wanted to track about our various contract types is readily available to all stakeholders. It is integrated with DocuSign and Salesforce.
CONSWe 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
Research, 201-500 employees
Used daily for less than 12 months
OVERALL RATING:
5
EASE OF USE
5
VALUE FOR MONEY
5
CUSTOMER SUPPORT
5
FUNCTIONALITY
5
Reviewed 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.
PROSInstantly 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.
CONSLexion 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
Computer Software, 201-500 employees
Used daily for less than 12 months
OVERALL RATING:
5
EASE OF USE
5
VALUE FOR MONEY
5
CUSTOMER SUPPORT
5
FUNCTIONALITY
5
Reviewed 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.
PROSWe 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.
CONSLexion 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.
Reason for choosing Lexion
Lexion offered mainly the same features as their competition, but with friendlier representatives, more customer interaction and feedback, and better prices.