Benchmark Your Contracts: Screens Debuts Market Data Tool

Introducing Screens.ai's Market Data Feature

What if you could compare your contract to thousands of others and benchmark how it stacks up? At Screens.ai, we're constantly innovating to make contract review more efficient and insightful for legal professionals. Today, we're thrilled to announce our latest feature: Market Data. This addition to our AI-powered contract review platform brings a new level of context and benchmarking to your contract analysis process.

What is Market Data and why does it matter?

Market Data is a game-changing feature that allows you to compare your contracts against thousands of others reviewed on the Screens platform. Available for community screens in both our Word add-in and web platform, this tool provides valuable insights to help you make more informed contracting decisions. Market Data provides that crucial context, allowing you to:

• Benchmark your contracts against industry standards
• Identify areas where your agreements may be outliers
• Make data-driven decisions about which clauses to negotiate
• Understand common practices in specific contract types
• Improve your contracting process based on real-world insights
  
  

How Does It Work?

Start by opening your contract and selecting a community screen in the Screens.ai add-in. After the screen finishes its review, you'll see Market Data information appear alongside your results. This gives you an immediate sense of how your contract stacks up against others. For instance, you might discover that your NDA performed worse than 95% of other NDAs reviewed with the same screen.

Curious for more details? Just hover over the Market Data indicators to see things like average screen scores and sample sizes used for the comparison. If you want to dig even deeper, you can examine Market Data at the element level. By toggling to view failing standards, you'll get insight into how often specific clauses typically pass or fail across other contracts. It's a powerful way to benchmark your agreement and identify areas for improvement.

Insightful contract review

With Market Data, you're not just reviewing contracts – you're tapping into the collective wisdom of thousands of legal professionals. This feature empowers you to:

• Negotiate with confidence, knowing how your terms compare to the market
• Identify potential red flags that might be overlooked in isolation
• Streamline your review process by focusing on areas that truly matter
• Demonstrate value to clients or stakeholders with data-backed insights

Market Data is now available for all community screens, seamlessly integrated into the Screens.ai experience you already know and trust. Market Data is the latest step in our journey to make contract review not just faster and more accurate, but truly insightful. We’re always eager to hear your feedback so please don't hesitate to reach out and share your thoughts.

Welcome to the future of contract review – where your decisions are powered by data, backed by AI, and informed by the market.