AI Contract Analysis Software | Smart Contract Analytics
AI Contract Analysis Software | Smart Contract Analytics
Smart Contract Analytics (SCA) Platform is based on AI / ML and specifically uses NLP and pattern recognition to process the contracts and extract the metadata. The platform is hosted on the AWS cloud that takes advantage of all security features that AWS provides along with the high availability and scalability features with GDPR compliances. Artificial Intelligence / Machine Learning capabilities: The SCA Platform uses Deep learning Neural Network models like Bi-LSTM, CNN and other models that leverage state-of-the-art Natural Language Processing (NLP) based modeling techniques such as Word2Vec and Bi-directional Encoder Representations with Transformers to develop a semantic understanding of the document contents and further extract relevant entities and clauses. Product features: 1) NLP and deep learning techniques for extracting metadata 2) Export the extracted data to Excel or client desired format and push the extracted data into any CLM or downstream system 3) Support of foreign languages (currently supported languages include Spanish and German) and rest of the languages are in the planned roadmap 4) Generate dynamic ML models based on the contract type 5) The Platform has adaptors to various data sources to obtain legacy documents (FTP, Google Drive, SharePoint, dropbox, box, S3, and others, etc.) 6) The Platform can segregate the contracts based on the type of the contract (i.e. MSA, NDA, and SOW, etc.) 7) Ability to rename the contracts – standardize naming conventions if needed. 8) Document OCR capability with the ability to convert images, unsearchable pdf and scanned documents into text. 9) Metadata configurability 10) Integrated Quality Control tools for verification and validation of extracted clauses/metadata. 11) Compare two executed contracts of the same type to show the differences 12) Compare executed contracts with the standard template at a section/clause level 13) Notifications / Alerts engine that sends out notifications to email/text messages ( for example contracts expiring in 30/60/90 days, contracts that have an “Auto Renew” clause or Contracts that are not countersigned and several others based on the configured attributes. 14) Show all the contracts executed with specific Vendor ( or by account) in a hierarchical manner 15) Hierarchical mapping of the contracts assuming enough linkage attributes are available within the executed contracts or tracked in a CLM system 16) Open API that can be integrated with any 3rd party systems Analytics capabilities: The Smart Contract Analytics Platform comes with the following out of the box analytics capabilities based on the metadata extracted from the documents: • Number of contracts that are coming up for renewal by period (30 /60/90 days) • Number of Contracts with Net payment terms as 30 days, 45 days and 90 days, etc. • Number of SOW’s / MSAs / Other Types of Contracts by the supplier • Show contracts by the specified metadata (ex: “tell me how many contracts have clause ‘Indemnity’.”) • number of contracts that have “Auto Renew” option • number of contracts that have Insurance Liability clause with specified $ amount • Several others based on metadata and meta fields. visit now: https://datafloq.com/read/ai-powered-contract-analysis-review-smart-contract-analytics/8284
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Computing Services
How AI based Contract analysis software works? | Contract Analysis Software
How AI based Contract analysis software works? | Contract Analysis Software
Understanding Contract analysis and review Contract Analysis is a process of understanding what is within your contracts. The main purpose behind trying to understand the ingredients of any contract is to see what are your organization’s obligations with respect to the contract being analysed and what are the associated risks for the organization in the event of failing to perform these obligations. Most organizations refer this as Contract Review, and this is most likely performed by either an external legal counsel or using in-house legal teams. The normal contract review process happens either when you are authoring a fresh contract with your customer, supplier, or vendor or when you are accepting the third-party paper. In both these cases, the reason for the review is to figure out if any of the contract clauses are deviating from the standard templates and if yes how much are they deviating and if that is reasonably acceptable. The process of reviewing or analyzing contracts has been a manual task for a long time which involved going over a huge number of documents, understanding large volumes of text to elicit specific information pieces like a date, price, contract value, payment terms, force majeure clause details, etc and this is quite a time consuming, tedious and pricey. visit now: https://blogs.docskiff.ai/how-ai-based-contract-analysis-software-works/
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Computing Services
Smart Contract Analytics | Contract Discovery and Analytics platform
Smart Contract Analytics | Contract Discovery and Analytics platform
Smart Contract Analytics (SCA) Platform is based on AI / ML and specifically uses NLP and pattern recognition to process the contracts and extract the metadata. The platform is hosted on the AWS cloud that takes advantage of all security features that AWS provides along with the high availability and scalability features with GDPR compliances. Artificial Intelligence / Machine Learning capabilities: The SCA Platform uses Deep learning Neural Network models like Bi-LSTM, CNN and other models that leverage state-of-the-art Natural Language Processing (NLP) based modeling techniques such as Word2Vec and Bi-directional Encoder Representations with Transformers to develop a semantic understanding of the document contents and further extract relevant entities and clauses. Product features: 1) NLP and deep learning techniques for extracting metadata 2) Export the extracted data to Excel or client desired format and push the extracted data into any CLM or downstream system 3) Support of foreign languages (currently supported languages include Spanish and German) and rest of the languages are in the planned roadmap 4) Generate dynamic ML models based on the contract type 5) The Platform has adaptors to various data sources to obtain legacy documents (FTP, Google Drive, SharePoint, dropbox, box, S3, and others, etc.) 6) The Platform can segregate the contracts based on the type of the contract (i.e. MSA, NDA, and SOW, etc.) 7) Ability to rename the contracts – standardize naming conventions if needed. 8) Document OCR capability with the ability to convert images, unsearchable pdf and scanned documents into text. 9) Metadata configurability 10) Integrated Quality Control tools for verification and validation of extracted clauses/metadata. 11) Compare two executed contracts of the same type to show the differences 12) Compare executed contracts with the standard template at a section/clause level 13) Notifications / Alerts engine that sends out notifications to email/text messages ( for example contracts expiring in 30/60/90 days, contracts that have an “Auto Renew” clause or Contracts that are not countersigned and several others based on the configured attributes. 14) Show all the contracts executed with specific Vendor ( or by account) in a hierarchical manner 15) Hierarchical mapping of the contracts assuming enough linkage attributes are available within the executed contracts or tracked in a CLM system 16) Open API that can be integrated with any 3rd party systems Analytics capabilities: The Smart Contract Analytics Platform comes with the following out of the box analytics capabilities based on the metadata extracted from the documents: • Number of contracts that are coming up for renewal by period (30 /60/90 days) • Number of Contracts with Net payment terms as 30 days, 45 days and 90 days, etc. • Number of SOW’s / MSAs / Other Types of Contracts by the supplier • Show contracts by the specified metadata (ex: “tell me how many contracts have clause ‘Indemnity’.”) • Number of contracts that have “Auto Renew” option • Number of contracts that have Insurance Liability clause with specified $ amount • Several others based on metadata and meta fields. visit now: https://www.docskiff.ai/
Sutton
Computing Services
AI Powered Contract Analysis and Review | Smart Contract Analytics
AI Powered Contract Analysis and Review | Smart Contract Analytics
Smart Contract Analytics (SCA) Platform is based on AI / ML and specifically uses NLP and pattern recognition to process the contracts and extract the metadata. The platform is hosted on the AWS cloud that takes advantage of all security features that AWS provides along with the high availability and scalability features with GDPR compliances. Artificial Intelligence / Machine Learning capabilities: The SCA Platform uses Deep learning Neural Network models like Bi-LSTM, CNN and other models that leverage state-of-the-art Natural Language Processing (NLP) based modeling techniques such as Word2Vec and Bi-directional Encoder Representations with Transformers to develop a semantic understanding of the document contents and further extract relevant entities and clauses. Product features: 1) NLP and deep learning techniques for extracting metadata 2) Export the extracted data to Excel or client desired format and push the extracted data into any CLM or downstream system 3) Support of foreign languages (currently supported languages include Spanish and German) and rest of the languages are in the planned roadmap 4) Generate dynamic ML models based on the contract type 5) The Platform has adaptors to various data sources to obtain legacy documents (FTP, Google Drive, SharePoint, dropbox, box, S3, and others, etc.) 6) The Platform can segregate the contracts based on the type of the contract (i.e. MSA, NDA, and SOW, etc.) 7) Ability to rename the contracts – standardize naming conventions if needed. 8) Document OCR capability with the ability to convert images, unsearchable pdf and scanned documents into text. 9) Metadata configurability 10) Integrated Quality Control tools for verification and validation of extracted clauses/metadata. 11) Compare two executed contracts of the same type to show the differences 12) Compare executed contracts with the standard template at a section/clause level 13) Notifications / Alerts engine that sends out notifications to email/text messages ( for example contracts expiring in 30/60/90 days, contracts that have an “Auto Renew” clause or Contracts that are not countersigned and several others based on the configured attributes. 14) Show all the contracts executed with specific Vendor ( or by account) in a hierarchical manner 15) Hierarchical mapping of the contracts assuming enough linkage attributes are available within the executed contracts or tracked in a CLM system 16) Open API that can be integrated with any 3rd party systems Analytics capabilities: The Smart Contract Analytics Platform comes with the following out of the box analytics capabilities based on the metadata extracted from the documents: • number of contracts that are coming up for renewal by period (30 /60/90 days) • Number of Contracts with Net payment terms as 30 days, 45 days and 90 days, etc. • Number of SOW’s / MSAs / Other Types of Contracts by the supplier • Show contracts by the specified metadata (ex: “tell me how many contracts have clause ‘Indemnity’.”) • number of contracts that have “Auto Renew” option • Number of contracts that have Insurance Liability clause with specified $ amount • Several others based on metadata and meta fields. visit now: https://www.docskiff.ai/
Sutton
Computing Services