Concord Launches AI Copilot to Transform Contract Review with Natural Language Processing

Concord, the contract management software platform trusted by over 1,500 companies and 1 million users worldwide, has launched AI Copilot, an assistant that transforms contract review with instant, accurate insights delivered through simple, plain-language questions. This innovation addresses the critical challenge facing teams across Legal, Procurement, Finance, and Sales Operations who are being asked to move faster and do more with less resources.

AI Copilot fundamentally changes the traditionally time-consuming process of contract review by enabling users to ask natural language questions and receive immediate, actionable answers. This approach eliminates the need for complex searches through dense legal documents, delivering insights twice as fast as traditional methods while proactively identifying risks and opportunities that could impact business performance. The technology includes instant contract intelligence, proactive risk identification, smart contract summarization, universal accessibility, and integrated workflow capabilities built directly into Concord's document view.

The implications of this technology are significant for organizations struggling with contract management inefficiencies. According to Concord CEO and Co-founder Matt Lhoumeau, "I spent six months in contract hell trying to renegotiate 500 vendor agreements—one month just looking for the contracts, another month reading them one by one, then four months sending thousands of Word documents back and forth. That's when I realized contract management was badly broken. AI Copilot changes everything." This sentiment reflects the widespread pain points in traditional contract lifecycle management software that creates bottlenecks where key clauses are hard to find, risks are difficult to assess, and critical deadlines are easily missed.

Beyond basic contract review, AI Copilot provides sophisticated analysis capabilities that enable users to quickly identify payment amounts and due dates, flag terms related to data privacy and intellectual property, and understand termination provisions with complete context. As Lhoumeau explains, "For us, contracts aren't legal documents—they're business processes that enable relationships. Ninety-five percent of companies still manage contracts manually, which is where finance was 30 years ago. AI Copilot doesn't replace lawyers; it democratizes legal knowledge so that anyone can understand what's in their contracts." This democratization of legal knowledge allows non-legal professionals to access crucial contract information while freeing up legal teams to focus on truly complex matters where their expertise adds real value.

The immediate availability of AI Copilot within every document in Concord's platform, requiring no complex setup or learning curve, represents a significant advancement in making contract data accessible to any team member regardless of legal expertise. This development is particularly important given that contracts contain critical business data that drives operational decisions, relationship management, and financial outcomes. The technology's ability to provide instant answers to questions like "What are the payment terms?" transforms how organizations interact with their contractual agreements, moving from manual review processes to intelligent, query-based insights that accelerate decision-making and improve business outcomes across vendor agreements, customer contracts, and upcoming renewals.