Bounsel is especially grateful for the 107.091,22€ grant awarded by IVACE (Instituto Valenciano de Competitividad Empresarial).
This non-repayable grant is financed by the European Regional Development Fund (ERDF) at a rate of 50% through the ERDF Operational Programme of the Valencian Community 2014-2020.
We have participated under the file number IMINOD/2019/86 in the SME Innovation Projects programme (INNOVA-CV), through which IVACE grants subsidies to young innovative companies for the development of innovative TEIC solutions.
Our project is based on the design and development of software based on artificial intelligence and data analytics for the intelligent and integrated management of contracts. Its main objective is to offer companies in the legal sector an innovative solution in the field of legaltech. (legal technology) with functionalities that help to optimise and automate all the associated tasks of a process that is currently carried out manually (creation, drafting, revision, signing, monitoring of the contract), with the high consumption of human resources and the risk of error, and high cost, that this entails.
In this way, companies with a legal department will be able to successfully face their digital transformation process and increase their competitiveness thanks to the use of digital technologies in contract management.
Thanks to the grant obtained and all the effort and work put into this innovative project, Bounsel expects to achieve results that will materialise in the creation of a fully operational and ready-to-market software at the end of the project, which will include, among others, the following functionalities and technical features:
- An in-house, collaborative, real-time editor and a contract versioning function.
- A system to obtain approvals easily from the persons responsible for the contract.
- A customised system for managing contract comments.
- An interactive notification system to track contract activity within the platform.
- The possibility to automatically extract the main contract data.
- The use of advanced electronic signatures.
- An organised repository and archive of contracts signed on the platform.
- An advanced permissions setting of the application.
- A secure, scalable and encrypted platform.
- The possibility of integrating our software via API with more than 1,000 applications.