IURIO SIGNED
Artificial Intelligence for optimal contract management and enhanced legal teams' collaboration
Total Cost €
0EC-Contrib. €
0Partnership
0Views
0IURIO 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.
Project "IURIO" data sheet
The following table provides information about the project.
| Coordinator |
LEGAL TECH SERVICES GMBH
Organization address contact info |
| 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.
| # | ||||
|---|---|---|---|---|
| 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.)
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