Catylex In the News
Catylex® Cures Legacy Contract Pain with Essentials™ Launch
NEW YORK, New York, June 28, 2023 – Catylex, a provider of AI-powered Contract Analytics, announced today the launch of Catylex Essentials™, a new version of its software that dramatically lowers the time and cost of understanding what’s buried inside a portfolio of contracts.
Until now, almost every business has struggled to answer contract-related questions, especially during a crisis. Without data, your only option is to read contracts, which is slow and expensive. Some have tried AI-based solutions, but most of these have fallen short of expectations, leaving customers in the “trough of disillusionment”, according to Gartner.
“When it actually works, Contract AI is a game-changer” said Catylex CEO and co-founder David Rosen. “You get the data you need, at scale, without the hard work.”
Insight without breaking the bank. “Most businesses learn to live with poor insight because the cost of getting data from contracts has been prohibitively high” said Andrew Downes, Catylex COO and co-founder. “Catylex Essentials changes that. We’ve made it dead easy for people to get quality data quickly, without a major project, and without a large price tag.”
Demos are for dinosaurs. “As a legal tech veteran, I know how much demo fatigue is out there” said Jamie Wodetzki, Chief Product Officer at Catylex. “Legal and legal ops teams are sick of scripted demos. They want to try things. They want to see it work with their own eyes, on their own contracts. We’re so confident of our product, we’re letting anyone try it for free.”
Farewell to fire-drills. When crisis strikes, legal “fire drills” typically follow. You can’t throw your portfolio of 20,000 contracts into ChatGPT and expect reliable answers. “ChatGPT is cool. Catylex is fit-for purpose,” said Mr. Downes. “We lived through the 2008 financial crisis, when the risks buried inside derivatives contracts almost broke the banking system. We started Catylex because we knew first-hand the scale of the problem, and how to tackle it.”
Don’t take our word, try it for yourself. To start your free trial, sign up at Catylex.com, where you can load your first 60 contracts for free (600 pages worth of contracts, to be precise). If you like the trial, plans start as low as $400 per month ($4,800 per annum), for 1,000 contracts (10,000 pages of legalese). With Essentials, you’ll get immediate insight into 20+ legal concepts, no matter which specific words were used (many more concepts are available in our Professional and Enterprise plans). You can search your portfolio by combining these AI concepts with additional keywords, and you can create your own custom Tags to mark the things you care about. Even better, you can used saved searches to automatically tag issues as soon as contracts are loaded into the system. Everything is stored safely in a secure cloud repository, backed by SOC2 audit. Insight is just one small click away. What are you waiting for?
Director, Product Marketing
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