Is Lexion an all-in-one contract management tool?
Lexion is an AI-enabled contract management platform that promises to help operations teams close deals faster. This is achieved through the use of an AI assistant and other features like approval workflows, native eSignatures and a contract dashboard.
Of all of these features, the AI functionality appears to be most popular, with independent reviews crediting this functionality for saving them time on manual contract processes.
That said, there are still some feature gaps that set Lexion apart from an all-in-one contract management platform like Juro. These feature gaps mean that Lexion users will continue to rely on separate tools throughout the contract management process, like Microsoft Word and email.
We'll explain what these feature gaps are and how they will impact users in this guide. We'll also explore independent reviews from Lexion users, as well as pricing and alternatives.
Lexion does offer many useful features for in-house legal teams that want to streamline their contract management process. These include approval workflows, conditional logic, automated contract renewal reminders and detailed analytics that help with tracking contract management KPIs.
Lexion also integrates seamlessly with Microsoft applications like Teams, Word and Sharepoint. However, Lexion's integration with Microsoft Word works in place of a browser-native contract editor, so Lexion users must continue to edit, review and negotiate contracts in Word.
This means that Lexion users will be working with static files, making it difficult to maintain version control and collaborate on agreements in real time. This is distinct from Juro where users can create contracts and run redlines natively, replacing Word altogether.
"Many other platforms in the CLM space offer both the ability to generate and customize templates from within the platform. Lexion is behind the general market when it comes to this" - Verified Lexion user, G2
Lexion has some great features, including their AI contract assistant. However, Lexion also has some significant limitations, and you should consider these when evaluating the tool. Let's explore the two biggest limitations now.
1. Not an end-to-end solution
It's clear from independent reviews that the AI contract tool isn't an end-to-end solution for contract management.
Lexion users say that the tool lacks access to browser-based editing, contract generation, redline tracking and more.
As we mentioned previously, Lexion users will rely on Microsoft Word for these processes instead. However, this does mean that users miss out on the benefits of contract automation and real-time contract collaboration.
"If you want to jump into the deep-end with contract management, redline tracking, in-browser agreement editing and other more advanced tools, Lexion is not that" - Verified Lexion user, G2
"Lexion doesn't have a ton of "bells and whistles". It gets the job done but doesn't have any specific features that blow me away" - Verified Lexion user, G2
2. Reporting and search functionality is limited
According to independent reviews by Lexion users, the tool's search functionality can be limited and difficult to use. Some users claim that the search bar pulls up a lot of contracts with little relevance, or that the search results field appears 'busy'.
This is a significant limitation given that the search functionality is used to make finding the relevant contract easier, not harder.
The search results field is busy and can be hard to digest - Verified Lexion user, G2
Using the search bar to find a contract is very difficult and pulls up way too many other contracts that don't have any relevance to what I was actually searching for - Verified Lexion user, G2
How does Juro compare?
1. Browser-based contract editor
Juro simplifies contract creation and editing with its feature-rich, browser-based contract editor. Juro users can automate contracts in seconds, with automated contract templates, conditional logic and conversational forms.
This makes it quick and easy for teams to generate contracts in demand. No more back and forth between templates in Word, and no more waiting on legal.
2. Intelligent legal AI assistant
Juro's AI Assistant empowers users to automate contract drafting. By prompting Juro's AI assistant, users can quickly generate entire contracts or individual clauses based on pre-approved contract playbooks and internal guidelines.
Juro users can also use the AI assistant to review and summarize contracts, meaning they spend less time on routine contract admin tasks.
3. Real-time contract collaboration
Unlike Lexion, Juro allows users to collaborate on contracts in real-time, directly from their browser. Parties can add comments and collaborate on contracts within one unified workspace, eliminating the need to switch between different files and tools.
These discussions can be kept private or shared externally, with a toggle that allows you to switch between the two settings in just a few clicks.
4. Instant visibility into contracts and their data
Juro offers instant access to contract data through a data-rich contract repository, real-time contract dashboard, and robust search capabilities.
Contracts are structured as data, enabling both legal and business teams to quickly retrieve essential contract data, including renewal dates, transaction costs, and contract statuses.
Juro's Legal AI Assistant further automates contract review and analysis, identifying risks, summarizing key clauses, and flagging deviations from accepted standard terms.
If you're interested in an AI-enabled contract management tool that streamlines contract admin and empowers you to agree contracts up to ten times faster, book a personalized demo of Juro today.
Unfortunately, Lexion doesn't share information about their plans or pricing models publicly. This means that you'll need to contact their sales team to find out which features are available in each plan.
Since Lexion doesn't offer end-to-end functionality, you could also find yourself paying out for additional tools to fill in the gaps. This is something to consider when evaluating any CLM solution.
If you're looking for an all-in-one solution with flexible plans to suit businesses of all sizes, Juro could be a better option. All of Juro's plans include unlimited users and templates, as well as our core functionality.
This makes Juro a great option for businesses that want a comprehensive yet affordable contract tool.
- Meets requirements
- Ease of use
- Ease of setup
- Ease of admin
- Quality of support
- Product direction
This makes Juro a popular alternative to Lexion's AI contract tool for legal and commercial teams seeking to streamline their contract workflow.
Find out more about Juro
Want to hear from the businesses already using Juro to agree contracts up to ten times faster? Watch the video below to hear about some of our customers' biggest wins.
"The Juro platform has saved my team 90% of the time we used to spend writing and sharing contracts. The platform is efficient and intuitive"
To find out more about how Juro works for businesses like yours, check out our case studies or hit the button below to book a personalized demo.