AI powered contract analytics and review | Contract Analytics Platform

Procurement stake holders are always taxed with the objective of optimizing their vendor relationships and metrics from time to time and in order to do that they have to be on top of the key business information across their vendors. Across organizations, such information is available in the procurement agreements which are either stored on network drives or emails or in the form of scanned and unsearchable pdf documents.

Even if you do have access to the procurement agreements unless there is a way to quickly know what is inside each of those agreements it will be a lot of futile effort to extract the information you need manually and this could result in a reasonable risk for your organization.

The most efficient way to manage your procurement contracts is to adopt Artificial intelligence-enabled contract analytics tools that can

• help in organizing all the procurement contracts in a digital format
• extract key metadata and other clauses to handle risk and compliance issues
• Classify the procurement contracts and build the hierarchy and lineage.
• analyze your third party paper with standard playbook templates and show the deviation score
• build actionable insights and analytics

For more info, https://www.docskiff.ai

Insurance companies have a constant need to comply with upcoming regulatory changes. With each state having their own laws and guidelines it becomes very cumbersome and time consuming for the insurance providers to compare versions of the policy documents and come up with an acceptable format for Department of Insurance (DOI) submissions.

Added to this there is a need to submit a 3 column excel format of the changes made in the policy in terms of additions, deletions and replacement. Also there is a need to show the new words added to the policy in Red color and deleted words shown as striked out.

Smart Contract Analytics powered with AI and ML has built a specific solution for this use case which expects to automate policy document comparisons, gather competitive intelligence in terms of rates and terms, generate automated reports for DOI submission and a lot more

Talk to us to see how this can help improve the productivity of your organization. For more information go to https://www.docskiff.ai

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