Going beyond CLMs: Automating contract performance
Contract management is the hottest segment in legal tech all across the globe. But are CLM platforms doing enough to fulfill business needs? We spoke with Anand Babu, founder of Koncord Law according to whom we need to think beyond lifecycle management and develop solutions for the performance/execution of the contracts. Anand argues that contracts, at least of a certain (deterministic) kinds, can and should be programmed as self-executing smart contracts. And that's what his team at Koncord Law is busy developing. Anand and his team at Koncord Law have recently launched their flagship product, ContractsPlus. In the coming months, they expect to launch more versions of the tool which uses machine learning and smart contracts to create powerful automated workflows.