Quora, the question-and-answer platform where users can ask and answer questions on a wide range of topics, faced the challenging task of enhancing the efficiency of their contract review process. The team's focus on supporting key business and growth initiatives meant seeking an innovative solution that could handle counterparty paper requests efficiently. The ideal solution would have to flag key terms for review, possess a user-friendly interface, and not require additional resources or headcount.

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The search for an AI contract review solution

To gain a comprehensive understanding of the AI contract review space, Quora performed a rigorous evaluation of 13 AI contract review solutions over six months. According to Adrie Christensen, Legal Operations Lead at Quora, the process involved defining clear success criteria with her general counsel, which they organized into a detailed scorecard for consistent vendor evaluation.

Upon conclusion of the evaluation, the Quora legal team chose Ivo, a solution that promised configurability and a clear, intuitive checklist feature. Christensen noted that Ivo stood out due to its ability to align closely with Quora's specific needs around third-party paper reviews.

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Implementing Ivo: A seamless experience

Adrie Christensen oversees an array of pivotal functions within the legal team, including managing vendor evaluations, implementations, and legal technology. Her engagement with Ivo was marked by ease and efficiency from the start. A single demo session enabled her to start crafting playbooks, and the Ivo team's timely responses facilitated a quick setup process. The dedicated Slack channel and regular check-ins further demonstrated Ivo's commitment to customer success and product improvement.

When I've shared feedback with the Ivo team, I can see that it's clearly being taken into consideration. Even during the evaluation phase, we felt that the Ivo team had a strong focus on continuous improvement.

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Transforming contract review with Ivo

Quora experienced immediate, significant improvements after adopting Ivo, rapidly streamlining their contract review process. According to Christensen, implementing Ivo delivered tangible benefits, empowering the team to:

  • Reduce NDA approval turnaround time from 4 business days to 2 days—a 50% improvement.
  • Accelerate initial redline reviews for low-risk agreements from approximately 11 hours down to under five minutes, representing a 98% improvement in overall efficiency 
  • Optimize resource allocation by allowing their part-time contractor to shift focus entirely to higher-risk, strategic agreements.
  • Achieve greater consistency and efficiency in negotiations by leveraging customizable playbooks tailored to Quora’s specific business needs.

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The Impact of Ivo on business operations

With the introduction of Ivo, the Quora team can now reallocate its valuable resources, enabling team members to concentrate on higher-risk matters.  Initially, Quora's small legal team, with only one part-time person dedicated to contract review, sought to leverage human expertise for complex tasks while streamlining routine reviews. Post-Ivo, these resources are now focused on more complex negotiations, and processes like vendor reviews have become more efficient, with improved turnaround times.Adrie highlighted numerous additional value-adds Quora has realized since implementing Ivo:

  • Consistency in Negotiations: Playbooks standardized negotiation stances, making responses predictable and uniform.
  • Empowering Non-Legal Staff: Christensen herself, although not an attorney or paralegal, can now efficiently handle low-risk NDAs, reducing the burden on specialized legal personnel.
  • Scalability and Training: Clearly defined negotiation stances documented through playbooks simplify onboarding, ensuring consistency and reducing the learning curve for future hires.
  • Improved Cycle Times: Real-time metrics from their CLM showed clear, quantifiable improvements, significantly reducing internal bottlenecks.
I’m helping to manage the process of reviewing NDAs, despite not being an attorney or a paralegal. It's beneficial that I can utilize Ivo, which highlights the critical elements for us, and allow our team to concentrate on more intricate matters without being preoccupied with lower-risk items.

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What's next for Quora

Quora's journey with Ivo is only beginning, but the early signs are showing promise. The team noted that they are looking forward to harnessing the full capabilities of Ivo, confident that it will enhance their efficiency and contribute to the company's continuous growth.Quora's results with Ivo already indicate transformative potential. Christensen emphasized the importance of clearly defined success criteria and an iterative approach to AI adoption. Quora's legal team is now actively exploring expanding Ivo’s use to handle more complex negotiations, confident in continued improvements to operational efficiency and strategic support for the company's growth.