Contract Intelligence

Anne Hertz
Anne Hertz
September 9, 2022
Contract Intelligence

Contract Intelligence is a new additional feature that uses machine learning to analyze relevant information from large quantities of documents quickly and with an accuracy impossible for humans or other traditional contract analysis tools like search terms in tables. X-ray machines can't do it because they only see what's right before them - but now there's something more shiny coming onto the scene: Contract! This Meaningful Learning solution offers powerful capabilities such as extracting critical phrases across all pages within any given database and then classifying those words into buckets based on their meanings, so you don't have to read a whole document to understand its key concepts.

Moreover, it can identify relationships between different clauses and concepts, helping you see the "big picture" of your contract portfolio in minutes rather than hours or days.

CMx Contract Intelligence software is currently being piloted by leading law firms and corporations worldwide, and the results are impressive. Contract Intelligence is a revolutionary software that gives organizations the power to analyze their entire contract portfolio in seconds. The solution not only reduces costs and boosts productivity but also provides critical information about each agreement, such as risks involved with it or what clause might be most important for litigation purposes - all without taking up valuable time from attorneys who would rather spend fewer hours on paperwork while getting more done during work days.

Crush Your Obligations

Contracts can be a time-consuming and expensive part of running your business, but it is crucial to maximizing their value. Recognizing revenue faster will help you avoid missing any renewals with clients or other deadlines! You'll also have peace knowing our dynamic contract management software solution CMx  provides added protection for this crucial aspect of the contracting process by helping save all those contracts from getting lost forever when they're not managed properly.

Features Of Contract Intelligence

Contract intelligence systems provide a solution for every organization's needs. They offer unparalleled value with their speed and performance, as well as scalability that is unmatched by less robust technologies. The features of contract intelligence are mentioned as follows:

Unparalleled Accuracy: The most accurate solution on the market is now even better. CMx human review validates data accuracy and continually trains their AI to be an even more powerful machine learning tool for you.

Centralized Repository: There are many agreements in any given industry, and it cannot be easy to find the right one. Our powerful, contextual topic search will help you locate what you need with filterable dashboards that simplify customization.

Advanced Insights: Stay in control of your business with our innovative contract management solutions that send alerts before every data-driven event and give insight into renewal negotiations and risk analysis reports to help pinpoint any areas concerned.

Contract = Analytics: Contracts are often the villains of any business, but they're also essential to keeping your company afloat. Our handy tool lets us see how different contract terms affect you and which vendors or customers cost more to hire for this season's needs.

Integration Workflows: We offer a full suite of solutions to maximize your efficiency. We can help you with any integration needs, whether an ERP or business intelligence tool - we have something for everyone.

Contract intelligence is more than contract management

Contract intelligence is the key to success in any industry. Contractors and their attorneys need to know what they're negotiating so that all parties are satisfied with the contracts, especially when there can't always be certainty from one side or another. Due diligence must happen before signing on the dotted lines.

Contract intelligence software is a powerful tool that can be used for many purposes. Contract management, on the other hand, must always have some form of code to program it and make decisions based on data input by users or specific requirements set out in law contracts themselves may not offer enough flexibility when you need something done quickly without having too much red tape involved there's also another key difference between these two types if they both rely heavily upon artificial intelligence - which has become more accessible due to recent technological advances- but where one comes with tailor-made solutions. In contrast, another requires programming to get it done.

In the business world, time is money, so contract intelligence software can be seen as a powerful tool for those who wish to manage their contacts more efficiently. In addition, this type of software can automate many of the tasks associated with contract management, such as generating reports and analyzing data.

Ready for the “new-normal”

Contract intelligence platforms should adapt to users' contracting processes and workflows instead of forcing them into a one-size-fits-all solution. The system also integrates with other leading business platforms from Box, Salesforce, or DocuSign, blending contract data across an organization while providing centralized access only to those who need it--allowing you more control over how your contracts get done.

 Our contract intelligence platform offers a variety of user-friendly features and options designed to work with your specific contracting process and needs. Our system is also highly customizable, so you can tailor it to fit your business's unique way. And because we integrate with other leading business platforms, you can easily blend contract data across all of your systems for a more centralized and efficient way to manage your contracts.

How Contract Intelligence works

Contract Intelligence is a type of artificial intelligence that can be used to amplify your company's contract compliance. With the help of machine learning, this software will learn how you interact with contracts and ensure everything runs smoothly every time without any hiccups or errors in judgment from seasoned professionals who know what they're doing.

With AI, intelligent machines can learn and improve from experience. Machine learning is crucial in making this happen - it allows contracts to be automatically updated with new information over time. In addition, it enables systems like streamlining negotiations or gaining visibility into obligations under agreements. Both terms are related, but there's also an important distinction between them so let's start by talking about what exactly Artificial Intelligence means when referring specifically to computers.

AI can help you manage your contract lifecycle by making it faster and easier to find the terms that matter most. For example, we use AI in our software with CMx. Hence, users can cut down on tedious work like marking up every single contract for approval because machine learning has learned what they care about from past examples-like payment periods being 60 or 90 days rather than 30. With this information (and after enough data), machines become perfect predictors of new trends, allowing them to make predictions when presented with various pieces of incoming data.

It takes time to train the software with your preferences, so it knows what matters most in each deal – but once perfected (and we're pretty sure this will be soon), machine learning gives us Google-like searching power without having it to go through every single document one-by-one.

Artificial intelligence can amplify the power of contract intelligence from start to finish. And machine learning ensures that the whole system grows smarter and faster as it absorbs new information with the following features.

Contract Setup: Contract setup is faster than ever with the help of artificial intelligence. Contractors can save time and streamline their processes by utilizing this new technology. With millions upon clauses already available, AI will model your relationship to create contracts that are similar but unique enough, so they're not too repetitive or boring for you - quite literally bringing static documents alive through insights into what makes them work best together as well machine learning constantly optimizing every aspect based on data collected thus far.

Contract Negotiation: Contract negotiation is a time-consuming, laborious process that takes up many employees' valuable resources. Using artificial intelligence tools can help you negotiate the best possible terms and outcomes for your company while reducing manual review of lengthy contracts and avoiding past mistakes by implementing practices across all departments in one shot.

Obligation Management: Contract intelligence is a powerful tool that uses artificial intelligence to discover and elevate obligations hidden in complex contract language, ensuring compliance with company promises made by entering into these agreements. The output should sound very professional and informative, so readers know what they are getting into when using this service.

Analytics: The contract intelligence AI can help businesses make better decisions by recognizing patterns and identifying hidden relationships in their agreements. The powerful software can analyze vast quantities of data with unparalleled accuracy, giving you the ability for unprecedented insights from any agreement or document that has been created within a business setting.

The CMx Contract Intelligence platform turns contracts from static documents into a strategic advantage by structuring and connecting the mission-critical information that defines an organization's operations. Today, industry leaders trust us to fully realize their ten million+ contracts worth more than $1 trillion in 40 languages across 90 countries with patented artificial intelligence (AI). Schedule your call now. If you're looking for a way to boost your productivity and save time on contract reviews, our  Contract Intelligence platform is worth checking out.

Anne Hertz
Anne Hertz
Contract Management Specialist - CMx Contract Experience at Sysintellects.

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