Opendata, web and dolomites

IURIO SIGNED

Artificial Intelligence for optimal contract management and enhanced legal teams' collaboration

Total Cost €

0

EC-Contrib. €

0

Partnership

0

Views

0

 IURIO project word cloud

Explore the words cloud of the IURIO project. It provides you a very rough idea of what is the project "IURIO" about.

actors    post    contracting    enterprises    economy    techniques    manually    reaching    degree    drafting    departments    cloud    huge    overcomes    german    revenues    fee    gdp    contract    fixed    digital    team    profits    90    offers    risk    austrian    agreements    contracts    market    accumulated    companies    house    data    innovation    people    14    sw    microsoft    intelligence    compliance    tool    documents    central    innovative    latest    count    artificial    shares    source    71    services    speaking    business    50    financial    universities    automated    providers    drawbacks       word    70    commercialization    integrating    repetitive    legal    iurio    sense    candidate    scene    international    automation    add    optimize    law    piloting    efficiency    46m    professionals    encryption    tendency    volumes    contractual    service    22    critical    smart    poor    overcome    time    forces    reducing    structure    computing    seamlessly    either    parties       arising    firms    ideal    tech    2026    eliminates   

Project "IURIO" data sheet

The following table provides information about the project.

Coordinator
LEGAL TECH SERVICES GMBH 

Organization address
address: SCHORGELGASSE 31
city: GRAZ
postcode: 8010
website: n.a.

contact info
title: n.a.
name: n.a.
surname: n.a.
function: n.a.
email: n.a.
telephone: n.a.
fax: n.a.

 Coordinator Country Austria [AT]
 Total cost 71˙429 €
 EC max contribution 50˙000 € (70%)
 Programme 1. H2020-EU.3. (PRIORITY 'Societal challenges)
2. H2020-EU.2.3. (INDUSTRIAL LEADERSHIP - Innovation In SMEs)
3. H2020-EU.2.1. (INDUSTRIAL LEADERSHIP - Leadership in enabling and industrial technologies)
 Code Call H2020-SMEInst-2018-2020-1
 Funding Scheme SME-1
 Starting year 2020
 Duration (year-month-day) from 2020-01-01   to  2020-04-30

 Partnership

Take a look of project's partnership.

# participants  country  role  EC contrib. [€] 
1    LEGAL TECH SERVICES GMBH AT (GRAZ) coordinator 50˙000.00

Map

 Project objective

Legal services are key for EU economy (~1% GDP), and digital innovation is critical to overcome technical challenges and fully exploit business opportunities in the sector. The novel fixed-fee tendency forces legal companies to optimize in efficiency, focusing their technical developments on automation, since 30-50% of their tasks may be automated. Within these, contract management is an ideal candidate for automation, since it shares a common structure, and represent a major source of revenues: 70% of enterprises' revenues are generated from contractual agreements. However, no IT tool today offers a high degree of automation, and 71% of legal professionals still manage contracts manually. Thus, the potential market is huge, and includes all Legal Service Providers (either law firms or in-house legal departments) commonly managing high volumes of legal documents. IURIO overcomes current drawbacks of contract management by integrating the latest techniques in Artificial Intelligence, cloud-computing and data-encryption into a simple SW tool to (1) enable smart drafting of contracts and to (2) optimize legal parties' collaboration during the contracting process; all seamlessly integrated as a Microsoft Word add-on. In this way, IURIO eliminates repetitive tasks, reducing contracts drafting time by up to 90% and improving post-execution contract compliance by up to 90% (reducing on average 22.5% the financial risk due to poor contract management). IURIO is already arising great interest: we are currently piloting in 2 Austrian law firms and count with the support of 14 international companies, key actors within the Central European legal-tech scene and some of the most innovative German-speaking law and technical universities. In this sense, we expect a major impact upon commercialization, reaching accumulated profits of €14.46M by 2026 and growing our team in over 100 people.

Are you the coordinator (or a participant) of this project? Plaese send me more information about the "IURIO" project.

For instance: the website url (it has not provided by EU-opendata yet), the logo, a more detailed description of the project (in plain text as a rtf file or a word file), some pictures (as picture files, not embedded into any word file), twitter account, linkedin page, etc.

Send me an  email (fabio@fabiodisconzi.com) and I put them in your project's page as son as possible.

Thanks. And then put a link of this page into your project's website.

The information about "IURIO" are provided by the European Opendata Portal: CORDIS opendata.

More projects from the same programme (H2020-EU.3.;H2020-EU.2.3.;H2020-EU.2.1.)

ECOBIOMASS (2019)

Achieving unique wines through an efficient production process

Read More  

Dyme (2019)

Dyme gives its users complete control over their financial situation. The Dyme application provides insight into users’ spending and subscriptions, and lets users cancel, negotiate, or switch any cont

Read More  

COPI (2020)

Carbon Offset Plug-in

Read More