On Wednesday, LexisNexis has announced that it added a new contract lifecycle management (CLM) offering and a new work intake system to its cloud-based enterprise legal management (ELM) solution CounselLink.
The new capabilities come less than a year after LexisNexis acquired CLM provider Parley Pro, in a move to add a “key pillar” alongside CounselLink’s legal spend management and matter management capabilities, Aaron Pierce, vice president of Product Management at CounselLink told Legaltech News.
“We wanted to allow for the legal team and their stakeholders to be able to draft contracts or review contracts, collaborate with third parties or counterparties on all their contracts in the same tool that they use for their other enterprise legal needs, which is CounselLink,” Pierce said.
He added, “I think, broadly speaking, we look at CounselLink as the hub of the in-house corporate legal department, and we really want it to be kind of a one-stop shop for legal operations, for in-house attorneys and for the general counsel themselves to be able to get a feel for the pulse of what’s happening in the legal department.”
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Coyer, C. (2023, March 1). LexisNexis Expands ELM Solution CounselLink with New Work Intake, CLM Capabilities. Law.com. Retrieved March 2023, from https://www.lawnext.com/2023/03/building-on-its-acquisition-of-parley-pro-lexisnexis-adds-contract-lifecycle-management-to-counsellink.html