Shift your contracting model to one of ‘technology supported by people’.
AI advancements are revolutionizing the contracting practices by migrating away from the traditional ‘people supported by technology’ that requires manual and timely reviewing oversight.
Intelligent automation of contracting processes incorporates aspects of collection, review, analysis, interpretation and decisioning that can be automated, which then allows the people involved in those processes to focus on higher value activities.
Intelligent automation enables legal teams to process, understand and effectively use increasing volumes of information to transform contracting practices.
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The data within contracts can be used to initiate automatic workflows that execute downstream processes. Additionally, data can be analyzed as the contract develops enabling identification of traits to look out for, or insight that improves SLA adherence. These type of enhancements lead to more successful partnerships, project engagements and customer vendor interactions.