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Walkthrough – Contract management

1. This is the LawVu legal workspace, a space for full contract lifecycle management as well as legal matter management. You're looking at the Hub - a customizable dashboard for legal team members to organize their work. Click Hub to continue!

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2. The Hub gives you quick access to recent work, collections of matters and contracts you need to pay attention to, and workflow tools like approval notifications and key date reminders. Click next.

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3. Click Contracts to explore specific contract lifecycle management capabilities in the workspace.

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4. This is the entire contract repository, giving us total visibility and centralized access to all contracts in one place. Click next to continue.

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5. With a contract repository, your business will always have access to key dates and key information -- including expiration dates. This calendar, plus notifications and integrations with your personal calendar, ensure nothing gets missed.

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6. On the left are custom views. These are curated lists of contracts. You can create your own; your teammates can create and share views with you, too.

Creating custom views to organize your work is easy. Click next to see how.

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7. You can use any data fields you have in LawVu to create views and reports. Click the Column icon to start.

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8. With your mouse, click and drag Stage from the left-hand column and drop it on the right hand column.

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8b. Drop

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9. Now your view includes the stage of each contract, so you can track progress. Click Save to save the customized view as your default.

Our customers love grids for managing their work and reporting - it's like a better spreadsheet!

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10. There are many ways to add a contract to LawVu at any stage. You can also automate contract generation. Click Create to start.

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11. You can upload a contract file and fill out a form to capture key data. Or you can generate using pre-approved templates using an automation wizard. Click create new contract to see how it works.

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12. In this scenario, let's automatically generate a simple NDA based on a pre-approved template to save time. Click next to continue.

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13. This is a customizable form to ensure that key information is populated into the template. Now that the information has been added, click Next to continue.

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14. The contract is now created in the repository. Key information has been captured in the fields on the left. You can quickly access information about approvers, embedded files and emails, key dates and amendments. Click next to proceed.

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15. On the right hand side, you'll find a built-in conversation tool that allows you to collaborate with other members in your team without leaving LawVu. This means fewer emails and more visibility.

Click Next to continue

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16. If you want to save time and ensure adherence to policy, you can automate contract approval workflows. Click Approvers.

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17. When a contract needs approval, this group will be notified with access to all the information they need to review and approve or move the contract to the next stage.

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18. Approvers are notified via email, LawVu mobile app, and here, so things don't fall through the cracks or slow down. This is a notification banner with quick access to key information. Click next to see the automated approval workflow builder.

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19. You can automatically assign approval workflows based on certain conditions such as Department, Region, and Contract Value using easy drag and drop functionality. Click next.

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20. If you have to make changes to a contract document during its lifecycle, you can easily download the document to edit offline and upload it back to LawVu, or edit with Word online. Click next.

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21. You can also use Litera Compare, a built-in document comparison tool, to easily see changes made to the document over time. Click next.

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22. AI provides great value at the review stage; here we can use AI to quickly find important terms in this NDA without having to spend time reading and scrolling. Click Run extraction to have AI analyze and extract those clauses.

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23. AI has extracted 4 key fields. Click on Governing Law; you are taken straight to the location of the clause in the contract document.This is a huge time saver especially if you're working with large documents.

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24. You can now send the contract for signing using e-signature integrations. Signed contracts will automatically go back to LawVu with an "executed" status.

Click next to see how the wider business use the LawVu CLM.

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25. This is the Business Portal, a curated experience for your business. The portal is a highly configurable "legal front door" that makes it easy to submit structured requests, create contracts, and get visibility. Click Get help from legal.

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26. LawVu is unique because you can manage contracts, legal matters and projects in one place. This form is a structured request for legal help of any kind, which will reduce back and forth. Click next.

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27. You can also enable the business to self serve. For example, generating high volume, low value contracts such as NDAs based on your pre-approved templates is highly valuable. Click generate NDA to see how it works.

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28. Just like we saw earlier, all a business user needs to do is fill in key information to populate the template.
Click next to continue.

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29. And now the NDA is in LawVu! This is done without having to involve legal at all, freeing time for everyone and improving turnaround times. Click next to continue.

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30. Your business users can stay up to date on all the work they do with legal from their portal. They can also access and manage their own contracts here.

Now let's go back to LawVu to see reporting features. Click next.

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31. The value of legal tech extends beyond workflow automation and visibility. It also generates valuable data and actionable insight. This out-of-the-box contracts dashboard has key metrics to showcase work and manage progress.

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32. The dashboard is highly visual and interactive so you can slice and dice to dive deeper and answer specific questions. Click Sales and Services to see how the report changes.

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33. Now you can see key information for all Sales and Services contracts on the dashboard. Let's scroll down to see other valuable metric captured in this Contracts report.

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34. This section shows contract turnaround time reporting. Customers find it really valuable to be able to report on performance, identify any blockers and spot opportunities to optimize operations. Click the General Counsel report to see one more!

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35. Because LawVu is a legal workspace, you can manage matter, contracts and legal spend all in one place. If you do that, you can have a consolidated view of key metrics for all legal work in one place in your GC dashboard.

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36. You're done, thanks for taking our tour! Be sure to book a personalized demo to get answers to any questions you have, we'd love to chat!

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Here's an interactive tutorial

** Best experienced in Full Screen (click the icon in the top right corner before you begin) **

https://www.iorad.com/player/2499077/Contract-Management--Self-guided-tour

Take a self-guided tour through contract management in the LawVu legal workspace.

Candice Somerville

See for yourself!

Schedule a personalized demo and a LawVu expert can show you how it works and answer all your questions.
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