Contracts Masterclass 2024

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  • 1.  Spotdraft CLM

    This message was posted by a user wishing to remain anonymous
    Posted 08-29-2024 10:59:00
    This message was posted by a user wishing to remain anonymous

    Spotdraft is a finalist for our company for both a CLM and Vendor Risk Management solution.  Does anyone have any references or comments that they can provide on their experiences with this vendor (implementation and ongoing) for both or either CLM or Vendor Risk Management?  Thank you. 

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  • 2.  RE: Spotdraft CLM

    This message was posted by a user wishing to remain anonymous
    Posted 3 days ago
    This message was posted by a user wishing to remain anonymous

    We are also considering this vendor so curious to see any comments.


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  • 3.  RE: Spotdraft CLM

    Posted 2 days ago

    We have been using SpotDraft for a little over a year.  The implementation was tough but I don't think that's unique to SpotDraft. They're support team has been very helpful - we still have weekly calls with them.  I am not the person in it every day, but it generally works well and is not too cumbersome for our business owners. We are just starting to take advantage of their AI features which so far seem very good.  The Ask AI feature is really good for summarizing contracts and/or answering questions about contracts. We are contemplating directing the business to use this feature instead of asking lawyers the questions.  They have recently changed their redlining AI tool and we are just starting to use this and create paybooks etc.  To date we have used it more like traditional ChatGPT to ask it to highlight risk areas but we have not been using the actual redlining feature to date but will be doing so going forward.  

    The VRM features are working but I think we were the first customer to use it for both CLM and VRM. It still has a lot of kinks, but I still feel that having one tool for both functions is the right thing to do.  Each vendor records has both the VRM materials and the contracts which is really helpful.



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    The opinions expressed are the views of the author alone and should not be attributed to any other individual or entity and shall not constitute a legal opinion.KarenMulroekaren.mulroe@greenwayhealth.com
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