Summize is a contract management software solution that streamlines how organizations create, review, and analyze contracts. The system is used by in-house legal teams, law firms, and by small-to-midsize businesses (SMBs) in a variety of industries. It was designed to analyze contracts and provide insightful summaries so that users can quickly gain an understanding of the terms and conditions that each document contains, as well as to reduce the time required to draw up new agreements.
Summize is headquartered in Manchester, England.
What Is Summize?
Summize is a contract management software solution that allows organizations to streamline processes related to managing business pacts and agreements. The system uses artificial intelligence (AI) to review contracts, provide comprehensive summaries, and dig deeper into contracts with intelligent contract analysis tools. The vendor’s implementation experts meet with each new client to ensure proper deployment of the system, and consultations can be done in person or online. Summize users can expect to reduce how long it takes to review contracts, optimize the contract creation process, and organize vast contract repositories according to their organization’s processes and practices, all from a central contract management dashboard that is intuitive and easy to use.
What’s Included in Summize?
Summize helps organizations manage their contracts more efficiently with a comprehensive contract lifecycle management (CLM) toolkit. There is a contract review module that deploys AI to read and summarize contracts within minutes, providing key points and contract insights in a short amount of time. Summize also supports the contract creation process with powerful features that include the ability to automatically add clauses and terms from your company’s playbook into new contracts, instant term definitions, and health check capabilities that quickly identify legal risks within documents. The system allows users to manage their documents repositories as well, with the ability to organize documents by clients, departments, and projects.
The application is a web-based solution that is also compatible with third-party systems including Microsoft Teams, Outlook, Google Drive, and more, offering users a fully integrated contract management system.
Benefits of Using Summize
The biggest benefit of using Summize is that dramatically reduces how long it takes to author new contracts and review existing ones. The system is also easy to use—so users can simply upload their contracts, and Summize defines key terms, clauses, and deadlines, as well as identifies any potential red flags. The system allows you to gain key contract information at a glance, and instantly creates contract summaries that you can share with others. This is particularly advantageous for organizations that operate on a limited budget and that might not always have access to dedicated legal experts. Another benefit of using Summize is that the system is available on a modular pricing plan, according to the vendor’s website, that requires users to pay only for the features they intend to use, offering a flexible, affordable, and fully customizable contract management experience.
The Summize website states the system’s features are offered on a modular pricing structure. Interested parties can go to the Summize website to request a quote from the vendor’s sales team for the features they need for their business needs.
Summize is one of many several contract management software solutions that are available, including GrowPath, Revnue, PACTA, and ContractWorks.
There haven’t been enough Summize reviews posted online to report on any meaningful customer experiences with using the system.