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

Total Cost €


EC-Contrib. €






 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.

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

Project "IURIO" data sheet

The following table provides information about the project.


Organization address
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


Take a look of project's partnership.

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


 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.

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

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