Lexion

What Is Lexion?

Lexion is a contract management platform for organizations where business units regularly rely on in-house legal counsel to review, approve, and manage agreements. It gives teams a structured way to initiate and progress contract requests while keeping the legal team involved where its review is needed. This could help reduce delays caused by incomplete requests, approval bottlenecks, and repeated follow-ups on contract status.

Once agreements are executed, the software also makes information within them relatively easier to retrieve, including terms, key dates, and obligations. Its AI can extract contract dates, parties, clauses, and other key terms, helping lower the amount of manual searching needed to answer contract questions or monitor commitments. For organizations whose contract volume is straining legal capacity, Lexion can help teams take on more agreements, potentially decreasing the need to route every contract request through legal staff.

What Is Lexion Best For?

The platform stands out with Easy Intake, which lets business stakeholders submit contract requests through tools they already use, including email and CRM systems. Instead of requiring employees to learn a separate request process, Lexion can capture the request, collect the details needed for review, and direct the next steps based on that information. Moreover, custom intake forms can show relevant questions as needed, helping reduce incomplete requests before they reach the legal function. The software also supports self-service generation of legal-approved documents for repeat agreements such as Non-Disclosure Agreements (NDAs), allowing users to generate predefined documents for routine agreements.  

How Much Does Lexion Cost?

Lexion's starting price is estimated at $2,100/month. Actual pricing is based on a custom quote and might vary depending on each company's requirements and deployment scope.

Organizations should also consider these potential additional costs when estimating their total investment:

• Small/Mid-Market Deployment: $30,000-$50,000/year
• Larger Enterprise Deployment: $60,000-$150,000+/year
• Implementation And Onboarding: $5,000-$25,000+
• Data Migration/Legacy Contract Import: $3,000-$15,000
• Custom Integrations/API: $5,000-$20,000+
• Advanced Workflow Configuration: $3,000-$15,000+
• Training: $2,000-$10,000
• Premium support: $2,000-$10,000+/year

Users generally view Lexion as offering good value for money, with reviewers describing the pricing as reasonable relative to the functionality and contract management capabilities provided.  Others mention that the cost may be harder to justify for smaller organizations, suggesting that value for money can depend on company size and contract management needs.

Disclaimer: Pricing references are based on publicly available third-party information and industry benchmarks. Actual costs may vary.

Lexion Integrations

The software supports integrations with multiple third-party systems including:

• Salesforce CRM
• HubSpot CRM Software
• Slack Software
• Coupa
• Microsoft Teams
• Box Sign
• Google Drive
• Dropbox

How Does Lexion Work?

Here’s how you can get started with Lexion software and use its key functionalities:

• Log in to the software with your account credentials
• Create a contract request through Lexion, email, or a connected business tool, then provide the details needed to process it
• Configure the request by using intake forms that capture relevant details and apply the appropriate routing or approval steps
• Manage the request from the central dashboard, where you can review its status, conversations, approvals, and related contract activity
• Generate or update the required contract using an approved template, then route it for review and approval
• Send the finalized agreement for signature and track its signing status within the platform
• Track executed contracts, key dates, terms, and obligations in the repository using search, alerts, and extracted contract data

Who Is Lexion For?

The platform is suitable for companies across various industries and sectors, including:

• Healthcare
• Biotech
• Pharmaceutical
• Healthcare
• Consumer goods

Lexion Use Cases

Based on our analysis of Lexion’s existing features and user reviews, we have identified several situations where the platform can be a good fit:

1. Legal Teams Managing Incomplete Contract Requests

When contract submissions arrive with missing information, legal staff may need to spend time going back to the submitting employee before review can begin. Lexion’s Easy Intake can address this at the intake stage by using customizable forms to collect the details needed for a particular type of contract. Requests can also come through email or existing business tools, so employees might not necessarily have to learn a separate submission process.  

2. Sales Teams Handling Recurring Agreements During Active Deal Cycles

Sales teams handling recurring agreements such as NDAs may need to prepare and send documents without waiting for counsel to handle each routine agreement. Lexion’s templated document generation allows approved templates to be used for these agreements, including from within a CRM. This could give sales representatives a way to produce standard documents while keeping the legal team’s approved language in place.  

3. Procurement Teams Managing Vendor Renewals And Obligations

Missed renewal dates, termination windows, or vendor obligations could create avoidable spending and compliance issues, particularly when agreements are spread across a large supplier base. Lexion’s AI-powered contract repository extracts and organizes terms, dates, and obligations across contracts, while reminders can surface upcoming deadlines. Procurement and legal can therefore work from a consolidated view when reviewing vendor commitments and upcoming contractual events.

4. Legal Teams Reviewing Contracts During An Acquisition Or Fundraising Round

Fundraising and Merger and Acquisition (M&A) activity often requires teams to find specific contract terms and prepare disclosures without spending weeks manually reviewing the entire contract portfolio. Lexion’s AI-powered search and reporting can identify extracted clauses and terms across the repository, helping teams assemble the information needed for due diligence and disclosure schedules. It allows transaction teams to work from existing contract data, so they may not have to review each agreement separately.

5. HR Preparing Employee Agreements During Periods Of Rapid Hiring

High-volume hiring can create an ongoing need to prepare offers and other employee agreements while still applying approved contractual language. Lexion’s employee document generation can populate legal-approved templates based on the relevant hiring information, allowing HR to produce recurring agreements without requiring counsel to draft each one individually. This can be particularly useful when hiring involves many similar agreements as well as exceptions that might still need legal review.

Is Lexion Right For You?

Lexion could be a suitable fit for organizations managing a growing contract volume across legal and business teams, particularly where legal capacity needs to scale with demand. It can help standardize contract handling without requiring legal to oversee every agreement.

The platform is SOC 2 Type II and ISO/IEC 27001 certified. It uses AES-256 encryption for data at rest, TLS encryption for connections, access controls, audit trails, regular security testing, and third-party audits.

Lexion was acquired by DocuSign in 2024, making it worth considering for companies already using DocuSign or evaluating it alongside contract management software.

Firms with low contract volumes or relatively simple agreement requirements may have less need for a platform with Lexion's broader contract management capabilities.

Still not sure if Lexion is right for you? Get in touch with us at (661) 384-7070, and we will help you make the best decision.