Let’s admit, reading a contract or agreement is rarely an exhilarating experience. Navigating those long and complex clauses running into several pages with heavy legalese is not for everyone. But like it or not, a contract agreement is here to stay!
Every business transaction is defined and governed by contracts. And every company has to deal with multiple contracts, sometimes thousands of them, to run their business. However, managing, comparing, or even tracking them manually is nearly impossible. That’s why many people don’t even know what’s in their contracts, resulting in undesirable “auto-renew” or “termination for convenience” going unnoticed. Furthermore, the management often lacks adequate visibility or insights to make strategic decisions, meet regulatory compliances, and acquire better negotiating power.
Today, advanced technologies such as Ai and Machine Learning (ML) enable organizations to sieve through a large number of contracts and derive actionable insights from them to deliver mission-critical decisions.
ContractAi uses AI, ML, and natural language processing (NLP) to automatically read, analyze and compare contracts putting business-critical insights at your fingertips. The solution empowers you to take a strategic approach to procurement by actively ensuring compliance and comparing supplier contracts, including T&C in line with your organization’s business plan. ContractAi makes it easy for you to sift through and find the right contract and terms without having to read each one of them. You can compare terms between historical and current contracts for a given vendor or supplier to capture changing terms and seek flexibility or compare vendors against specific contractual terms to select the most suitable vendor for your business operations.
NLP-based Digitization
Struggling to make sense of several contracts? Relax, we’ve got you covered! ContractAi harnesses advanced Ai technologies such as Natural Language Processing (NLP) to extract, index, and classify relevant information that captures the intent, circumstances or context.
Key Events Notifications
With ContractAi, you will never miss critical dates of the agreement, such as contract reviews, renewals, or termination. Be on top of important milestones of a contract life cycle through regular updates and notifications.
Contract Querying
Go beyond keyword searches and get the right information at the right time with context, intent and conditions to make smart business decisions.
Vendor Contract Performance
Often companies, due to the lack of expertise in effectively assessing vendor performance, fail to maximize their negotiation capabilities. ContractAi allows organizations to compare and analyze multiple contracts, including historic ones for the same vendor to make critical business decisions.
Cross-vendor Negotiating Leverage
ContractAi empowers you to consolidate and negotiate the best payment terms and other important terms across multiple vendor contracts by accurately comparing multiple contracts. The insights you gather can help negotiate and develop better ones.
ElectrifAi: US’ leading ML solutions provider
ElectrifAi is all about solving high-value business problems for the C-suite at the Last Mile. We call this Consequential Ai, leveraging years of deep domain expertise and pre-built Machine Learning solutions to quickly drive top-line revenue growth, cost reduction, and operational efficiency. We work with Global 2000 enterprises, including several Fortune 500 companies, in a core set of verticals. Our clients see results in 6-8 weeks, transforming their data into a strategic weapon to drive enterprise value growth and profitability.
Our solution does not require investment in a new platform or infrastructure. Instead, we leverage the data existing in your system to power the ML models to deliver business outcomes.
We are the last-mile solution that sits on the top to solve specific business problems and bring about savings. Contact us to learn more!
