#Japan #Tokyo #AI Legal Tech #Money Forward #Cloud Contract

Money Forward Expands Its Horizons with AI Legal Tech Association Membership

In a remarkable development, Money Forward has officially joined the AI Legal Tech Association, a body dedicated to promoting the healthy growth and dissemination of legal tech services that harness technology, particularly AI, to support legal and attorney duties. This strategic move marks another step in the company's commitment to enhancing legal work efficiency through technology.

Founded in September 2022, the AI Legal Tech Association is geared towards boosting the recognition and reliability of legal tech services, researching the frameworks needed for their adoption, and engaging in activities that promote these innovations within legal operations. This association also serves as a vital channel for collaboration among legal tech companies, encouraging a vibrant industry landscape.

Since the launch of its contract management and electronic contract service, Money Forward Cloud Contract, in 2021, Money Forward has aimed to streamline the entire contracting process on a single platform. This service encompasses every aspect of contract management, from legal consultations to document creation, approval workflows, electronic signing, and document storage. Such a comprehensive service significantly reduces both costs and workloads associated with contract management, which is often one of the most burdensome areas for legal departments.

In a further commitment to innovative solutions, Money Forward is set to release advanced features that integrate cutting-edge AI technology. Starting June 2024, users will benefit from the AI Auto-Input Function, powered by the new GPT-4o model, enhancing data entry processes. Additionally, in March 2025, the introduction of the AI OCR Bulk Upload Function will simplify the upload process for contract documents, making it easier for users to manage their data efficiently.

The latest feature launched by Money Forward is the AI Lease Assessment Function, designed to automatically determine lease agreements that fall under the new accounting standards. This tool is expected to be available by June 2025, providing organizations with the tools necessary to comply with evolving legal requirements effortlessly.

Through its membership in the AI Legal Tech Association, Money Forward intends to accelerate the utilization of AI and technology in the legal tech domain, ultimately delivering high-quality services and enhancing user experiences. Their approach not only focuses on efficiency but also ensures that clients receive the most reliable and effective support as they navigate their legal processes.

As a leader in developing innovative solutions for contract management, Money Forward continues to explore and implement technologies that not only serve their users efficiently but improve the overall productivity of back-office operations. These advancements signify a significant leap in how legal tasks are handled, ensuring that technology and legal expertise work hand in hand.

For more information about Money Forward's Cloud Contract service, visit their official website: Money Forward Cloud Contract.

As the legal landscape becomes increasingly dynamic, Money Forward’s partnership with the AI Legal Tech Association exemplifies a forward-thinking mindset that prioritizes technological advancement in legal practices. This collaboration promises to pave the way for more effective legal operations not just within Japan, but potentially influencing global market trends as legal tech continues to evolve.

Company Backgrounds

AI Legal Tech Association

• - Location: Shibuya, Tokyo
• - Established: September 5, 2022
• - Key Activities: Promoting the credibility of legal tech services, enhancing the regulatory environment for legal tech usage, fostering collaborations between legal tech companies, and conducting research on legal operations.
• - Learn more about the AI Legal Tech Association

Money Forward

• - Location: Minato, Tokyo
• - Established: May 2012
• - CEO: Yosuke Tsuji
• - Business Focus: Platform service business, providing solutions that improve financial management through technology.
• - Visit Money Forward Corporate Site