Contract Metadata Extraction with Artificial Intelligence (AI)

Contract Metadata Extraction with Artificial Intelligence (AI)

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  Contract Metadata Extraction WithArtificial Intelligence (AI)
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  Challenges in ManagingThird-Party Contracts Third-party contracts can be especially challenging to effectively review due to unfamiliar terms and clauses, which can put companies at serious risk as the room for human error is high. Some of the common challenges associated with managing third-party contracts are: ● Lack of reliable and latest contract documents ● Lack of real-time visibility and access to contracts ● Lack of details in existing contracts to extract the required metadata ● Complexity in extracting useful insights from third-party contracts ● Difficulty maintaining and tracking a single version of truth for key contract information
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  Need of AIfor Contract Metadata Extraction Due to presence of large number of third-party contracts, businesses require a system to manage contracts throughout their lifecycle. Some common challenges that foster the need for AI-powered Contract Metadata Extraction are: ● Tough to get the information from volume of contracts ● Large and complex contract repositories ● Time consuming and error prone manual scanning of active legacy contracts. ● Difficulty in maintaining and tracking KPIs, milestones, deliverables etc.
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  How Automated Extractionof data from Unstructured Contracts using AI works? Scale data and analyze results in real-time - AI-enabled CLM Software lets users import contracts in any electronic format—even PDFs and images—into the software, from where the data gets analyzed and processed with machine learning algorithms. Metadata Extraction - Automatically extract data from massive volumes of cross-asset, complicated, and unstructured databases with AI. Process multiple formats in no-time with no-error - AI processes contracts in dozens of formats and automatically converts them to machine readable text for extraction of relevant data. It comes with workflow tools that allow your team to verify the outcomes before they’re entered into your system. Streamline contract review, renewal, and negotiation process - With AI-based contract metadata extraction, companies and their advisors can complete a review and analysis of the project in half the time and increase the accuracy of their review.
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  Manage End-to-End ContractLifecycle on ServiceNow, using AI & Digital Workflow Built as a native ServiceNow application, Aavenir Contractflow can capitalize on existing ServiceNow investment and offers many benefits including: ● Quick & easy installation from ServiceNow Store ● Extends the capability of Aavenir Contractflow or Now Platform products like GRC, LSD etc. ● Supports single sign-on for Now Platform ● Requires the same Now Platform admin skills to install upgrades and manage compliances ● Easy to integrate with CRM, ERP, Risk Management systems using integration hub ● Stores your data on the world’s most secure and scalable Now platform
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  Free Demo Session Geta live demo of Aavenir Source to Pay solutions to know how Aavenir can address your enterprise's unique business challenges and goals. We provide live demonstration for following Aavenir S2P solutions: ● Contractflow - Contract Lifecycle Management on ServiceNow ● RFPflow - Request for Proposal Management on serviceNow ● Invoiceflow - Account Payable Automation on ServiceNow ● Obligationflow - Contractual Compliance Management on ServiceNow Visit: https://aavenir.com/demo/
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  Get Free Resources WatchWebinar Contract Lifecycle Management on ServiceNow Calculate ROI of CLM Solution Test Drive Contractflow Contract Metadata Extraction using AI E-book - Contract Management Analytics Calculate ROI Free Demo Read Blog Explore Now
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  Delivering Future ofWork www.aavenir.com linkedin.com/company/aavenirinfo [email protected] twitter.com/AavenirInfo