Within a company, contract management is a time-consuming and tedious task, not to mention the financial and legal risks incurred in the event of errors, forgotten renewals, etc.! To save time and ensure greater peace of mind for those handling these contracts, Hyperlex functions like a legal assistant.
In concrete terms, this artificial intelligence platform centralises, analyses and helps to manage all a company’s contracts in a simple way. Moreover, using the latest machine learning methods, the platform enables users to identify the key elements of the documents to be followed up to control risks.
The founding members of Hyperlex have several things in common: they all have entrepreneurial experience in the B2B SaaS software industry (Kyriba, Pyxidr), they know machine learning technologies inside out and they have all had to manage contracts.
4 questions to Hyperlex
Where did you get the idea for this startup?
A few years ago, Alexandre, our CEO, was a Director of R&D and over and over again he would come up against issues reviewing and monitoring contracts signed with partners. One day, after missing an important deadline related to a “complicated” clause, he came up with the idea of using new artificial intelligence technologies to help all those like him who manage contracts in companies.
Any recent good news?
We have just launched a product for French and European SMEs and MSBs.
What is the most unexpected thing that your startup has made you do?
Teaching our Artificial Intelligence to “understand” contracts. As with (my) children, a teaching and learning phase is involved. In the case of Hyperlex, it was a question of showing our “bot” dozens of examples of different types of contracts and (manually) pointing out the important clauses of each of them. The whole team pitched in to make the bot as smart as possible!
In what way does your project revolutionise your category?
We help all those who handle legal documents in companies to put an end to “contract hell” by enabling them to identify and retrieve all important information easily... using an artificial intelligence designed for contracts.