**London**: Agiloft enhances its contract lifecycle management platform by integrating Screens’ AI-powered contract review technology, aiming to streamline processes, reduce risks, and accelerate contract cycle times by up to 80%, with transparency and human oversight central to its approach.
Agiloft, a company specialising in contract lifecycle management (CLM), has enhanced its platform by integrating AI-powered contract review technology from Screens, Inc., a firm it acquired in December 2024. This integration aims to streamline contract review and negotiation processes, improve risk mitigation, and extract insights from complex documents more efficiently.
Screens, launched in early 2024 by a team of legal and machine learning experts, has distinguished itself by publishing publicly auditable benchmarks that demonstrate an AI accuracy rate of 97.5% across various contract review and redlining tasks. By embedding Screens’ capabilities into its platform, Agiloft is offering customers access to AI-driven contract review and redlining within its core CLM system without requiring additional configuration.
Andy Wishart, Chief Product Officer at Agiloft, told PR Newswire US that the move allows clients “to use that data in infinite ways, whether it is building workflows or piping the data into hundreds of other systems Agiloft integrates with.” He added that this integration “makes AI on the inside a fundamental underpinning of Agiloft’s strategy,” delivering significant value to users.
Agiloft’s approach contrasts with many AI solutions that operate as “black boxes” with opaque decision-making processes. Instead, the platform employs “white box” AI techniques, providing transparency and allowing for human oversight—important considerations for legal and contracting teams. Additionally, the company offers a tool called Prompt Lab, which enables customers to customise and deploy AI-based agents capable of providing actionable insights and intelligent decision-making throughout contract management.
The platform claims to accelerate contract cycle times by up to 80%, reduce operational costs, and help identify hidden risks, integrating AI directly into each stage of the contract lifecycle. Features include AI-powered playbooks for market-informed contract reviews, pre-built AI models for data extraction, advanced generative AI search, and automation of routine tasks.
According to market research from Gartner, more than 70% of legal leaders intend to implement or expand generative AI use within their departments over the next two years. Agiloft’s move appears designed to meet this growing demand, positioning itself as a provider of AI-enhanced CLM solutions that offer both operational efficiencies and strategic advantages.
Wishart described the combined Agiloft and Screens technology as “a true leap forward for legal teams,” expressing excitement about offering legal leaders early access to the technology at the upcoming CLOC Global Institute.
Agiloft’s client portfolio includes global brands such as Alkermes, Balluff, and TaylorMade, and the company boasts high customer renewal and satisfaction rates. Backed by investors including KKR and JMI Equity, Agiloft continues to expand its AI capabilities within the contract management space as businesses increasingly seek intelligent automation solutions.
Source: Noah Wire Services
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