Intelligent Contract Management Powered by Applied Artificial Intelligence
Contract Management with Applied AI Automated Tasks and Provides Actionable Insights to Legal Professionals
Efficiency is the goal of corporate law departments today. To achieve this goal, in-house leaders must think about the technologies available to them that support corporate objectives and enhance productivity. Those who deploy leading-edge technologies will gain a competitive advantage over slower-moving competitors.
Applied artificial intelligence (AI) for contract management can provide this advantage. Recent research finds that companies investing in applied AI will achieve substantial increases in profitability. At the same time, legal sector jobs are shrinking fast. Legal leaders and in-house professionals who will thrive in the new paradigm will increase their use of technology.
Applied AI doesn’t replace lawyers: It automates routine tasks so they can focus on high-value activities, and it provides intelligent recommendations so they can deliver their expertise with full knowledge of all available, relevant information. Applied AI, fully deployed, becomes the driver of both corporate and career advancement for in-house legal and legal operations departments.
Applied AI for Contract Management is Available to Law Departments
Key Capabilities of Applied AI for Intelligent Contract Management
Extracting insights from large volumes of data, Apttus enables legal decision makers to weigh trade-offs as never before possible, allowing the legal team to execute corporate goals such as accelerated deal velocity and cost savings.
Apttus’ AI-driven contract management offers several unique capabilities that are not possible without this technology.
Intelligent Agreement Risk Management
Locate key terms and topics that create financial risks in negotiated agreements. Compare negotiated wording with agreement templates automatically to quantify and manage exposure to these risks.
Intelligent Contract Cycle Time Reduction
Reduce the time required to reach contract signature through cycle time prediction based on similar agreements. Compare predicted cycle times using alternate clauses to negotiate with full visibility to the impact of language choices.
Intelligent Clause Recommendation
Increase Legal Ops productivity with alternate word choice and clause suggestions that are proven to streamline negotiations and reduce risk exposure.
Intelligent Third-Party Paper Automation
Automatically map business terms and clauses in a third-party document to your legal playbook, enabling contract managers to swap language, reconcile drafts and send for approval just as if they had originally produced the contract.