Frequently Asked Questions
Any queries about Lexical Labs or the Tiro engine?
Here are some of the questions we get asked most often.
Currently any type of goods and services contracts, from simple to complex. Examples include general goods and services, SAAS, IT, engineering, construction, advanced manufacturing and agency.
We'll also fix your NDAs.
Yes, absolutely. Just bring it along and we'll upload it together. Blind demos are the best.
We either charge a monthly subscription fee based mainly on expected volumes of contracts or offer a per contract review cost for bulk reviews of contracts.
Tiro works throughout the contracting lifecycle - automating and speeding tasks.
Automated review at contract intake and triage - first pair of eyes - allowing contracts to be pre-screened and assigned to the right reviewer in minutes.
Contract review assistant - guiding a lawyer or contract specialist through a review and negotiation. Review is against the customer's own policies and playbook. Connect the review to your knowledge management system.
Business self service - helping business teams fix simple contracts without a lawyer involved.
Risk scoring and reporting - contract risks presented in a report, on a dashboard or as structured data in another platform. Contracts can be scored and improvement tracked throughout the negotiation.
Automated metadata extraction - on a dashboard or as structured data in another platform.
Contract approval - contract summaries and risk data extracted at the approval stage.
Executed contract analytics - Q&A on your executed contracts. Intelligent search. Analyse key risks and terms.
Tiro combines deep learning algorithms and a logic based expert system. Tiro also integrates with large language models such as GPT. The combination allows Tiro to dig deeper into contract risks than many systems.
Yes, we just need a few examples. 10 is adequate. 20 is good. 50 is great.
We aim for 95% accuracy - measured in terms of being able to uncover defined concepts in a contract.
Yes, Tiro constantly improves as users give feedback.
We offer a range of testing options. The most common is a 1-2 hour workshop where the customer uploads contracts to test Tiro.
Both.
Still have questions?
If your question wasn’t answered above, please dive deeper into Tiro, or reach out to us via the General Contact form below.
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