Xerox Announces Strategic Partnership with LinkSquares to Deliver Contract Lifecycle Management Capabilities to Customers
September 21 2022 - 12:12PM
Business Wire
Enhanced functionalities round out Xerox’s Capture & Content
Services
Today, Xerox announced a new strategic partnership with
LinkSquares to deliver contract lifecycle management (CLM)
capabilities to its customers in the U.S. as part of the company's
Capture & Content Services offerings. The partnership follows
Xerox Ventures’ second investment in LinkSquares earlier this
year.
Xerox’s Capture & Content Services provide advanced
multichannel capture and process automation, making information
available at point of need to enable clients to make better
informed and more proactive business decisions. The joint solution
uniquely enables users to scan, digitize, transform and enhance
contracts and make them available within LinkSquares CLM platform
to deliver efficiency in customers’ contracting processes.
“LinkSquares is the leader in contract management, and their
pursuit of customer satisfaction while automating a typically
disjointed system will resonate deeply with our customer base,”
said Tracey Koziol, senior vice president, global offering
solutions Xerox. “By leveraging our companies’ technologies, we
will enable clients across industries to operate more efficiently
as they navigate complex contractual scenarios.”
With LinkSquares’ added CLM capabilities, Xerox customers will
be able to:
- Replace manual contract filing within their current content
management system using cutting-edge automation.
- Minimize date entry errors and limit (or eliminate) mandatory
metadata or contract properties to enter at upload.
- Leverage tools for event-triggered notifications to improve
management of contracts throughout their lifecycle.
- Easily draft and upload agreements using pre-approved
templates, tailored drafting workflows, and a centralized Clause
Library with vetted standard clauses.
“As legal teams undertake more strategic roles within their
companies, many are being asked to do more, often with fewer
resources,” said Vishal Sunak, CEO and co-founder at LinkSquares.
“Through this partnership with Xerox, we’re empowering customers
with AI technology that streamlines and automates processes for
enormous savings on time and money.”
LinkSquares recently secured $100 million in Series C financing,
with Xerox Ventures signing on as a repeat investor. This latest
round brings LinkSquares total funding to $161.46 million, at a
current valuation of $800 million. Xerox Ventures invests in early
and growth-stage startups with technologies designed to increase
efficiency, cost savings and revenue across multiple industries,
including connected work, empowered businesses and green
enterprise.
“Historically, legal departments have been among the slowest to
adopt new technology when compared with other business operations,”
said Chris Fisher, managing director of Xerox Ventures.
“LinkSquares’ AI solution helps companies transform their legal
functions, aligning with Xerox Ventures’ focus on investing in
companies that will power the next generation of business
solutions.”
About Xerox Holdings Corporation (NASDAQ: XRX)
For more than 100 years, Xerox has continually redefined the
workplace experience. Harnessing our leadership position in office
and production print technology, we've expanded into software and
services to sustainably power today's workforce. From the office to
industrial environments, our differentiated business solutions and
financial services are designed to make every day work better for
clients — no matter where that work is being done. Today, Xerox
scientists and engineers are continuing our legacy of innovation
with disruptive technologies in digital transformation, augmented
reality, robotic process automation, additive manufacturing,
Industrial Internet of Things and cleantech. Learn more at
xerox.com.
About LinkSquares
LinkSquares is the company behind the AI-powered contract
management platform of choice for legal teams aiming to move their
business forward faster. Customers have everything they need to
write better contracts, analyze what's in existing contracts, and
collaborate better with their team at every step of the way.
LinkSquares differs from other platforms on the market with its
powerful AI insights, speed to tangible results through flexible
automation, and ability to centralize everything for .better
visibility and collaboration. For more information, visit
https://linksquares.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20220921005785/en/
Media: Callie D. Ferrari, Xerox, +1-203-615-3633,
Callie.Ferrari@xerox.com
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