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Well, good morning everyone. My name is Derek Karpel. I'm the Sales Engineer with ContractPodAi and I thank you all for coming. I think this is gonna be a wonderful session talking about content lifecycle management. Definitely the best lecture Oliver did in the hallway, so I'm really excited for this opportunity. So, as you can see we don't have any technology right now but let's just talk. Maybe have a bit more of a conversation. If you can't hear me just throw something at me or maybe again we're a fun, casual group. So, project lifecycle management - just trying to get a quick poll of the room or hallway. How many people are familiar with contract lifecycle management? Okay, wonderful and I notice everyone who's familiar with it is on this side of the room. OK, we got a couple over here. It's a mixed litter. So contract lifecycle management. Let's just talk very generally about let's just talk very generally about what contact lifecycle management is meant to do. I think overall the overarching goal is to make your legal risk in your financial exposure and we do a lot of things. We offer a lot of capability to do that. Particularly with AI. So very quickly about ContractPodAi. So there are 4 core functionalities that my are four core functionalities that my powerpoint presentation has right now. Let's talk about the 4 core functionalities, and I like to think of them as in the mnemonic device of RAWA. So that's my gift to you - RAWA. So number 1:ContractPodAi is a repository. We can hold all of your contracts with related documents to those contracts in that repository. We also give you the capability to run advanced searches against all of your documents so of course we don't always know where our contracts are and if we have the ability to run keyword searches that would probably be a lot easier. So we have that capability. We can also build out some fantastic reports as well. So if you need to keep track of which contracts are set to expire or renewed within a certain time period instead of these alerts and reminders and so on in these reports. The second core functionality of contract lifecycle management is offering using automation. So we will take a sample set of your contracts. We create templates around them. This is not a vendor and post contract that we insist upon and you guys using our templates and so on. We trust that you know how to practice law so we will take your existing agreements and we'll build templates around them so you can automate your contract gravity process. The fourth core functionality is workflow. So the ability to create workflows and approvals. So you want to make sure the right contracts are flowing to the right department, to the right people. If a contract mentions LIBOR or GDPR or any of these hot topic issues right now we want to make sure that your subject matter experts are reviewing those contracts appropriately. We did set up automated fields essentially to make sure that those contracts are routed to those individuals. And finally the 4th core functionality to contract lifecycle management, ContractodAi, is our AI functionality. We're the only contract lifecycle management company that is powered by IBM Watson and one specific very unique versus other contract lifecycle management solutions out there. So many solutions out there will just pull out your provision. OK, this is the termination provision, and so on. What IBM Watson is able to do is... We're having a whole lot of tech fun today. Awesome. It's gonna be done by the time. Alright. You get to hear it for a second time with a PowerPoint presentation! So the fourth question as I mentioned, is our integration of IBM Watson. So why is Watson so unique? Well, as I was saying a second ago, a lot of solutions out there will just tell you where your termination revision is where your clauses are, and so on. I don't think we really need software to do this. Just press control-F and find the big highlighted section that says force majeur. What ContractPodAI was able to do with our integration with Watson, is actually reading the contract. It is actually pulling up every single instance where a certain legal topic is mentioned where it has true legal significance in the contract, because you have the figure the word let's say "ondemnities" is mentioned. It's peppered throughout the contract, right? And not every single time the word indemnities is mentioned is it significant or is it having some sort of a legal bearing on the contract. Watson is essentially doing a Control-Find and it's pulling every single instance where these concepts are mentioned, where they have that legal significance. So with that it's PowerPoint time. So, very quickly. So, the average company as you can see has between twenty to forty thousand contracts, and again on average it takes a long time to review those contracts. Three to four weeks to create and approve a contract. A lot of legal work a lot time is going into drafting your contracts, and the legal department is often seen as a cost center in a lot of organizations and the leadership really wants the legal department to move much faster. Do not do this cross-center to be able to reveal contracts much faster and to allow a lot of streamlining inhibitors to exist within a corporation. So the manual method could take the legal operations team two to three weeks to review ten thousand contracts and I think that's probably an optimistic timeframe. So at AI with IBM Watson as I mention, we can review contracts within hours and so that's going to free up your time to work on more high-value work, right? So if you're not having to sit there and review contracts over and over again, if you allow a system to review your contracts faster it's going to make your life a lot easier. Now, a lot of people say: "Well, is that going to replace my job? Is that going to make my profession of an attorney obsolete?" Well, as a recovering attorney myself it's not the worst thing if we have less lawyers in this world. I should probably know my audience. But anyhow it's not going to replace your job of course. What it is going to do, it's going to speed up a lot of your processes. It's the equivalent of saying: "why would I take the stairs if I could take an elevator?" It's going to help you get to point A to point B much faster. So the ContractPodAi ecosystem allows you to request contracts from your different business units in a way that's going to make the contract request legal writing, so you're not just inundating the lawyers in your company or the firm with just contract requests with half information and so on. It's going to allow you to leverage your contract templates in order to generate those contracts. We also have a negotiation portal where you can collaborate by there internally or externally to review those contracts and amend them ingly. Of course we have the ability to analyze the contract so it's going to extract key legal obligations from your contract, so not only you can pull up metadata like party names, effective date, termination date. It's actually to read, as I mentioned before, the content of your contract and extracts each of those instances where legal topics are mentioned where it has that legal significance. We are integrated with so we have sign access, so once you generate those contracts you can send them out for signature. And of course we have the ability to manage all of your contracts, as I mentioned, that repository which will allow you to run those searches, run those words and so on. So what it's really going to do is we give you better, much better, insight into helping the business because you're actually looking at contracts - the values of those contracts - we're new revenue expenses for all and so on. What are your obligations? What obligations your business partners own you? All that can be done within one seamless solution. So let's take a look. We've got a video here. Let's hope it works with our technology today. So let's see. So what we're actually doing here is, we're uploading that contract and we are a contract agnostic solution. What does that mean? We can handle any kind of contract, whether HR, sales contract, sell side, by side, whatever may be and so what the solution is doing is reading the contract, again, extracting each of those instances because legal talk, as I mentioned, where they have that legal significance and it's going to put it into an aggregated result. But each of those instances where those pockets are mentioned. So the goal of course here is to streamline their review process to allow you to get to the meat of your contracts much faster to make sure that you are meeting your obligations and of course reducing any of that financial exposure as well. So not only do we need to know what legal obligations we owe and which performance obligations we have but in a case like auto-renewal clauses and so on. If you're a large corporation you've got many corporate contracts out there with potential auto-renewal clauses. Same with vendors and so on. You can mitigate that financial exposure by knowing when this contract is set for renewal, whether it is set for expiration and so on. So what we're showing here is our key obligations which of course can be customized. So we can, IBM Watson allows you to train the solution to extract from key obligations that are essential to your business. So the solution does come pre-populated with 19 key solutions on pause. Of course we can customize this for you as well. How many folks are using AI in any kind of way right now that you're aware of, frankly? Okay, right on. In contract management, legal solutions? All the above? Right on! Kevin, how am I on time? I guess... Ten minutes? Any pause? Any questions? I was going to do a very quick demo of the solution but I want to pause and ask any questions. Yes please, Sofia? The question was: "Have we ever brought the solution into banks?" and I believe the answer is yes and we can discuss that. Absolutely. Financial institutions. Absolutely. Financial companies that we work with, insurance companies as well. Those are big ones. Any other quick questions? Yes, yes. Well, they come trained out of the box. We will first do a training as part of the implementation on your kind of specific paper to make sure that the solution is extracting the kind of information that you want it to so not only did it come out of the box trained but then they go ahead and do another sort of training with those key obligations. To your more specific question, yes, we can add key legal obligations that may be specific to your business and we can train those as well. So really anything that you want extracted it using the AI we can train the machine to to extract that information. Anything? You provide us with a sample set of your contracts and we train the machine on your sample contracts. Oh yeah, yeah, anything. Watson already has sort of intelligence built into it that we are leveraging, but we recognize that your business may have some nuance words and you want some kind of language and so on, so if we're going to have the system extract force majeur, it's going to train more specifically on your agreements and then if you want to add customer obligations, we can do that as well. Any other questions? Allright. It's time for a quick run-through. Allright. So let me just give you a quick kind of high-level overview of what the solution looks like in action. So this is our dashboard. This is where we have that full visibility and insight into all of our contracts. We have these graphs as well here that show us our revenue expenses split, our contract type analysis and it shows the different types of contracts that will work beyond you know solution. Customer geographical traffic analysis shows where our customers are coming. Supplier Geographic analysis shows us where our suppliers are coming from. So let's take a look at what a contract record looks like. So this is what a contract record looks like in our solution so that we don't want to constantly reread the contents of the contract every time we want to get basic information from it. We will also build out a contract relationship tree for you. So we will show these. We will reflect these relationships ,so if there are parent-child relationships with your contracts we can show those relationships. So this is... We allow for version control, so you've got v2, v3, v4 that's version 2, version 3, version 4, version 5. So anytime anyone touches a contract it's going to be stamped with their name, their email, date. Activity notes allow for that collaboration whether internally or externally. You want you can sync your ContractPodAi with your Outlook or your Gmail and will also capture communications in your email so the theme her here is not capturing all of your contracts - keeping my your contracts in one place but all the communications were made into contracts in one place and that same theme of keeping everything in one place when you keep all those related documents as I mentioned, so if you've got financial information records, resumes, any other information that you may want and getting out of this as well. The important dates: the solution is going to extract key dates from a contract. It's when allowing this set of these alerts and reminders or any of those specific milestone dates, which of course can be customized well. These are those key obligations again as we mentioned. Out-of-the-box but of course we can customize those as well for you. So that's just a sample set. We'll give you this binary choice to show you, yes, there is this, say, for example, yes, there's a force majeure clause and here's the description. So this may not be the best sample but it will tell you that the result is typically taken out from different sections of the contract, wherever these concepts are mentioned, and putted into this page here. So, advanced search! We can, of course. All the documents are OCR, so I have now just run a search for the word "LIBOR" - this is a hugely important issue coming up - and I'm running it against all of my pre- and post-signed contracts. When you run a search I'm going to find out where those contracts are, that mentioned LIBOR, and I can now go ahead and manage this contract by revising those terms, because this may be something that it needs to be changed, as it definitely is. I'm going to leverage a template of an amendment - a LIBOR amendment -saving, continue. So I'm revising this earlier contract with a newer contract. So most people revise that contract with that amendment. We're going to keep the history of that contract. Oops. So let me look. Excuse me. So we'll generate that contract and here we are. Here's that contract history. So anytime there's been an amendment or any contract in one place or another we keep track all these different versions and the entire history of the contract. Okay? Let me quickly show you the reporting functionality. So we have pre-loaded built-in reports. I think... Let's go in and explore. So one thing I like to do absolutely is a key obligation analysis. So this is going to show us all of our obligations that we owe to our different business partners. I'm being told I've got two minutes left, so I'm just going to quickly zip through this. Going back to the dashboard. So this is where we can, of course, let's go down here... This is where I might see folks internally and externally so I can add an activity in my notes, send this to someone outside my business, so this is my customer portal, right? It'd say "Please review and let us know if any of these terms are amenable." It's keeping everything in one place. So normally we would send this out to an email. It's gonna sit in someone's inbox for a while. They're not going to respond to you, so this ability to send this to our customer portals and allow us to track the notice that was sent out for signature or when this was sent out to review, we keep that audit trail any activity that we're doing. So I've posted this. Someone outside my distance is going to get a temporary username and password. I'm going to log in as this user. They can post notes within the solution and of course it's going to stay within that universe. So here's that change that needs to be made or that information that needs to be held. So we did the overall purpose of contract lifecycle management, mitigate financial exposure, legal exposure, make sure we're performing all of our deep legal obligations on time. We're going to leverage templates to make sure that we're drafting our contracts much faster. If we have low value contracts maybe you don't want to spend too much time working on that. You can send that out to other folks to work on. We can leverage non-complex and let's say low value contracts or low risk contracts for other folks to work on within the business. Of course we have that important reporting functionality to convene valuable information from our reports and of course the AI function that's going to allow us to review contracts much faster using IBM Watson and artificial intelligence. You're speechless! That was the best lecture you've ever seen in your life! Wow! Rich, you glad you started on the first day of LegalTech? That's all for me folks. I'll be on the side over here, able to answer any questions. Don't ask me any questions about the technology here. Happy to help me answer any questions about ContractPodAi. Thank you all so much. Swing by, I've got socks and other goodies and we're at booth two two one. So thank you all. Thank you. Okay. Come and get socks, Sophia.