January 11, 2024
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4 mins

TLB's Game-Changing AI-Powered Contracts-as-a-Service

As you may know, TLB has always offered an outsourced contract management service whereby we’ve acted as an extension to legal and procurement teams to get their contracts reviewed and negotiated quickly and cost-effectively. That’s how oneNDA was born back in 2021 [read the full story here]. 

This service has always been the backbone of TLB, but we knew we could do it better. And now, we are. We’ve always been deeply involved in the legal tech market and know it really well. But we’ve never actually utilised legal tech in our own offering - until now. 

Contracts-as-a-Service AI, powered by Luminance

We’re delighted to announce that we’ve partnered with Luminance, a world-leading AI platform for lawyers to enhance our Contracts-as-a-Service offering which we’ve now renamed 'CaaS AI'.

Founded by AI experts from Cambridge University, Luminance is built on a proprietary legal Large Language Model (LLM) and is capable of reading and forming a conceptual understanding of legal documents to expedite taking a first pass review of any incoming contract and automatically flagging contractual anomalies.

Through Caas AI, TLB will now be applying Luminance’s unrivalled AI capability to our own contract process, using it to perform a first pass review of the contracts we review for our clients and flagging any non-conformances with their playbooks - which we create for each client as standard when we start working together.

What Luminance’s AI capability allows us to do is speed up the contract review process, gather valuable data around how contracts compare against clients’ preferred positions in their playbooks, and quickly summarise key areas of the contract so we can respond to queries in record time.

The AI is always supervised and no advice goes out without human intervention but the introduction of this technology will increase our speed by 50% making us more efficient, data driven and more cost-effective than ever.

Beyond just contracts 

At TLB, we pride ourselves in taking a holistic approach to optimising our clients’ contract functions - we know that taking on your heavy lifting only takes you so far.

That’s why, as part of our offering, we also ensure our clients have the right playbooks and well-designed templates and that they’re using their tech-stack to the best of its abilities. We’ll also help them assess if oneNDA is right for them and, if so, help you get it adopted in the most efficient way. 

Working on your systems 

We want to eliminate as much friction as possible, so we work where you do, integrating with your chosen platforms, whether it's Slack, Teams, your CLM, or Legal Front Door.

We want to be more than just a service; we aim to be an integral part of your team, wherever you work.

New flat-fee subscription model 

That also means we can remove the last dregs of the billable hour, which we’ve been dying to do for some time now. Although we’ve offered fixed fees where we could, there were still elements of the billable hour hanging around, but we fundamentally believe that this is not a good business model - not for us and not for you.

So we’re delighted that we can now offer a simpler model with a predictable flat-fee subscription so our clients can focus on their core capabilities without worrying about unpredictable costs [see our packages here]. 

Book a demo 

For a demo of what CaaS AI looks like in action, please book some time with us - we’d love to show you. 

Find Out More

A Contracting Bolt-on To Your Business

Our CaaS solution pairs AI software with our expert team to process, negotiate and manage routine contracts with simplicity and speed.
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