Key features and functionalities of Intapp Terms that maximize ROI

Whether you're a current Intapp Terms user or considering licensing Intapp Terms, you'll want to know about several standout features and functionalities that can maximize your ROI for this AI-powered terms categorization software. We briefly discuss each of them below.

Key features and functionalities of Intapp Terms

Part of Intapp Assist for Terms, the secure, AI-powered Ask Intapp feature gives your professionals immediate answers to their terms questions - complete with direct links to underlying source information - directly in Microsoft Teams.

Below we list additional features and how your firm can use them.

• Terms actions
  Configure email notifications to be triggered based on document properties. For example, your firm can configure a notification that is triggered when a document is set to in effect, with the email notification letting relevant team members know that the term is in effect.

• Terms reminders
  Schedule convenient reminders for terms requiring future action, such as alerts that notify relevant users of changes in their billing rates.

• Terms rules
  Configure firm-specific rules that treat certain terms or paragraphs as mandatory and that trigger alerts to designated users if such terms are missing or modified.

• AI-assisted categorization
  Save time and improve data integrity with Intapp Terms's automatic identification and classification of key terms from uploaded client commitment documents.

Assign terms to clients or matters based on pre-set criteria using the inherited Terms feature:

Client and Matter selection-based: Link a client document across all matters, or to specific matters. You can also define whether all members of a group or only those meeting certain criteria should inherit the term provisions.

Link a client document to a client's corporate tree hierarchy.

Client and Matter criteria-based: Set criteria for new clients and matters, as well as future clients and matters. For instance, an Advance Waiver can be linked to a specific client and all 'Billable' matters, and to any future matters, as long as they're not categorized as "Litigation."

Terms status (in effect, pending, expired)
Track term status and automate expiration processes, ensuring downstream systems reflect these updates. For instance, if a competitor term expires, its associated record in the Intapp Conflicts system will automatically expire as well.

Terms comparison
Quickly identify changes to provisions, such as changes to terms from year to year, with side-by-side comparisons.

Intapp Terms approval workflow: The Terms approval workflow follows a predefined sequence of stages and transitions that includes uploading the document, reviewing it and categorizing the terms, assigning approvers for atypical scenarios, triggering subject matter expert (SME) review requests, awaiting the SMEs response, escalation path, and finalization of approvals. Firms can choose to initiate this workflow for a Client or Matter directly from the Terms application or can launch this workflow right from the Intapp Intake product (e.g., new matter opening or maintenance workflow). The Terms approval workflow, along with the appropriate SME role, can be modified by the firm's administrator based on the firm's process.

Firms can choose to initiate this workflow within Intapp Terms or Intapp Intake.

Integration with Intapp Intake, Intapp Conflicts, and Intapp Time

By leveraging native integrations between Intapp Terms and other Intapp products, such as Intapp Intake, Intapp Conflicts, and Intapp Time, firms can standardize their review processes, surface terms data inside other Intapp applications, and enforce clients' billing restrictions. Leveraging Intapp Terms' APIs, firms can also create custom integrations to leverage Terms data in downstream systems.

It's important for firms to regularly review and refine their processes and use of Intapp Terms. As technology evolves, along with the changes in firm's priorities and strategic goals, it's natural for processes to evolve as well. We recommend firms to conduct periodic assessments of their existing Intapp Terms configurations, including Terms Approval Workflow. Please reach out to Yelena Chervinsky (Risk Consulting) for such inquiries.

If you're interested in seeing any of these features and functionalities in operation, please contact us.

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