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LegalTech Breakthrough, a leading independent market intelligence organization that evaluates and recognizes standout legal technology companies, products and services around the globe, recently announced that LexisNexis® CounselLink+™ is “Contract Lifecycle Management Platform of the Year.” The contract lifecycle management award complements other awards given in other categories for the program that is now in its fifth year. In 2023, CounselLink was named Enterprise Legal Management Platform of the Year by LegalTech Breakthrough.
Within the last year, LexisNexis CounselLink® introduced the next generation of its product, called CounselLink+. This advanced, cloud-based enterprise legal management solution streamlines the entire legal department with rich features that unite contract lifecycle management with enterprise legal management in a single workspace.
This integration provides the following benefits (and more) for legal and law operations teams alike:
CounselLink+ features an intuitive interface with robust integration capabilities and features to help legal professionals create, review, negotiate, and execute contracts. The document management system ensures all contract-related documents are securely stored, accessible and version-controlled.
One of the most beneficial features of CounselLink+ involves contract drafting. Users can draft contracts from the CounselLink+ environment that integrates a Microsoft Word add-in into the platform for a seamless and efficient experience. Each contract can be drafted from start to finish directly in the streamlined environment visible within Microsoft 365. Anyone responsible for managing contract execution can stay in a single application for searching, sharing or redlining contracts.
A new feature preferred by CounselLink+ clients is the direct linking of contracts to corresponding matters. This enhances compliance and ease of oversight, while accurately aligning all documentation with associated legal activities. There is a “linked matters” section within the contract management dashboard. Multiple matters can link with a single contract, as well. If a matter is completed, lawyers can choose to unlink the matter from the contract panel.
CounselLink+ provides user access to hundreds of LexisNexis Practical Guidance contract templates. Alongside the seamless integration with Microsoft Word, the contract templates cover nine key practice areas. These integrations facilitate contract standardization and customization. The Microsoft Word add-in ensures seamless creation and management of legal documents.
Building on the contract lifecycle management features in CounselLink, legal departments can access various award-winning capabilities that contribute to law department productivity, performance, collaboration, and efficiency.
Legal teams, in particular, benefit from AI-driven work intake. “Ask Legal,” available on Microsoft Teams, offers AI-generated responses to simple legal questions and automates requests to the legal department. This entire process enables more efficient handling of higher-volume requests by business stakeholders, and service quality is maintained. The benefit of streamlined work intake for legal teams adds value across the enterprise.
Every advanced enterprise legal management solution requires intelligent financial management tools to track and analyze legal spend, optimize budgets, measure vendor performance and billing rates, ensure legal billing is accurate, forecast anticipated matter budgets, and more.
CounselLink+ delivers one-click access to the entire LexisNexis ecosystem. is considered a unified workspace and legal operations hub. It integrates work intake, contract management, vendor relations, and outside counsel spend into a singular, customizable platform. The CounselLink+ unified workspace and integrations with exclusive resources (with future integrations planned) serve as a centralized legal platform.
The mission of the annual LegalTech Breakthrough Awards program and the contract lifecycle management award is to conduct the industry’s most comprehensive analysis and evaluation of the top technology companies, solutions and products in the legal technology industry today.
“CounselLink+ empowers legal teams to work more effectively and supports legal departments with enhanced tools and exclusive features that are not available anywhere else. When managing contracts, legal teams require seamless communication and transparent access to important information and documents. Inefficient workflows and manual systems can complicate the contract lifecycle,” said Bryan Vaughn, Managing Director, LegalTech Breakthrough. “By combining workflow enhancements with contract management, CounselLink+ offers a single legal operations hub that integrates contract and financial tools with LexisNexis content to deliver greater efficiency for corporate legal departments. CounselLink+ is our pick for ‘Contract Life Cycle Management Platform of the Year!’”
* The views expressed in externally authored materials linked or published on this site do not necessarily reflect the views of LexisNexis Legal & Professional.