Bloomberg Law Unveils Intelligent Contract Playbooks
Bloomberg Law has announced Intelligent Playbooks, a new key feature of Bloomberg Law Contract Solutions that sets a new standard in contract drafting and review. With creation and compliance functionality, Playbooks capture and standardise institutional knowledge, enabling legal teams to apply consistent strategic positions across agreements, even during periods of staff turnover.
Contract Solutions is an advanced AI-powered platform that transforms tedious contract work into a strategic advantage. By automating the most time-intensive aspects of drafting, reviewing, and negotiating contracts, Contract Solutions empowers in-house legal teams to focus on high-value work and align contracts with business objectives.
Creation functionality simplifies the process of building and managing playbooks for teams. With customisable options, playbooks can be created from scratch, built using templates, or uploaded in most common file formats. Consistent guidance is provided by embedding fallback positions and annotations to support team decision-making. Additionally, a Playbook serves as a centralised knowledge base, standardising legal expertise and ensuring company policies are consistently maintained and applied.
Playbook compliance tools streamline contract management and ensure adherence to company standards. With the ability to instantly compare contracts against established compliance benchmarks, playbook compliance tools efficiently identify areas of deviation. AI-generated alternatives simplify the process of amending non-compliant clauses, providing precise solutions tailored to meet compliance requirements. Additionally, the use of redlining enables teams to easily verify changes and implement compliant revisions seamlessly, fostering accuracy and consistency while reducing manual workload.
Contract Solutions provides the tools to boost the efficiency of legal departments, minimise risk, and stay ahead of the competition. With smarter contract solutions, legal teams can scale operations seamlessly, handling higher transaction volumes with fewer resources. Contract Solutions streamlines negotiation cycles and ensures consistent legal positions. It also accelerates deal closures, helping teams drive business forward. It also mitigates risk by aligning contracts with organisational policies and risk tolerance, preserves organisational expertise and ensures real-time compliance.
"Bloomberg Law Contract Solutions sets a higher benchmark in legal technology," said Bobby Puglia, chief product officer, Bloomberg Industry Group. "The addition of Intelligent Playbooks supports our commitment to helping legal professionals streamline their workflows, ensure consistency across contracts, and deliver strategic, data-driven outcomes for their organisations. By leveraging advanced technology, this solution empowers teams to work more efficiently, reduce risk, and focus on higher-value tasks that drive business success."
About Bloomberg Law
Bloomberg Law combines the latest in legal technology with workflow tools, comprehensive primary and secondary sources, trusted news, expert analysis, and business intelligence. For over a decade, Bloomberg Law has been a trailblazer in the application of AI and machine learning. Bloomberg Law's deep expertise and commitment to innovation provide a competitive edge to help improve attorney productivity and efficiency.
