Lattice, the operator of AI-based contract management SaaS Prix, said on Thursday it is upgrading its integrated contract governance solution, Prix. It said the upgrade is aimed at overcoming the limits of Excel- and drive-centered contract management and is designed to allow legal teams to control and manage companywide contracts.
Prix provides functions including contract-specific access rights by department and role, manager history tracking that helps preserve contract context even when responsibilities change, contract negotiation memos preserved with the contract without separate record-keeping, and AI-based extraction of contract fields.
Lattice plans to enhance its AI functions and introduce AI agent features that cover AI-based contract risk analysis and revision suggestions.
Lattice CEO Sang-won Kang said, "The direction for contract management presented by Prix is now establishing itself as a standard model in the market." He added, "Based on security technology and operational know-how gained in the process of building solutions for large companies, we will become a trusted partner that raises the contract governance level of companies at home and abroad by one step."
Chi-gyu Hwang
delight@d-today.co.kr