Case Study: Formlabs achieves 50% faster contract reviews with Ivo

How Formlabs reduced their contract review processes by 50% with Ivo

Formlabs, a technology company and manufacturer of 3D printers, faced significant operational delays due to a highly manual and time-consuming contract review process. Their small legal team was spending nearly half its day on routine reviews for documents like NDAs and DPAs, which created a risk of inconsistencies and prevented a focus on higher-value strategic work. Seeking an innovative solution, the company turned to the vendor Ivo for its AI-powered contract review capabilities.

By implementing Ivo, Formlabs gained access to a comprehensive toolkit featuring contract playbooks and a robust checklist functionality. The solution automated initial reviews and integrated with Word, which drastically cut down review times and enhanced consistency. The measurable result was that Ivo helped Formlabs cut its contract review time in half, specifically for NDAs and DPAs. This allowed the legal team to reallocate its resources to more complex matters, significantly improving operational efficiency and risk management.

Formlabs

Erica Jutras

Assistant General Counsel