Contract agreements are never easy to read. They are littered with legalese, long and complex sentences, with context, intent heavy verbiage. ContractAi helps organizations make sense of contracts by using AI and NLP-based extraction, indexing, and classification, capturing the key terms with the intent and circumstances or context.
For many organizations, a contract life cycle revolves around three stages—framing a contract, filing it, and forgetting it. That is why people often miss critical milestones and dates of the agreement, such as contract reviews, renewals, or termination. ContractAi keeps you on top of important milestones of a contract life cycle by making it easily accessible through updates, and notifications.
The trouble with long, complex contracts is that critical information often gets buried under legal jargon and complex clauses, making it a daunting task to search and locate with keywords alone. ContractAi allows easy, fast, and accurate human-like querying of specific information with context, intent and conditions giving organizations the right information at the right time to make smart business decisions.
Keep a constant tab on vendor performance by comparing and analyzing multiple contracts, including historical ones for the same vendor. By doing so, organizations can now be well-abreast about the changing terms, the desirability of the changes, flexibility or lack thereof in key terms and associated risks and opportunities, and help improve negotiations favorably.
Enhance your negotiating power by comparing multiple contracts across different vendors. In addition, empower yourself to consolidate and negotiate the best payment terms across contracts with the same vendor. Extract relevant data points from contracts easily to negotiate and develop better contracts.