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ANALYSIS
Contracts are essential, but analysing them can be an obstacle. Traditional contract review is often very time-consuming and prone to errors. How can companies overcome these challenges? The answer lies in artificial intelligence (AI).
challenges
Traditional contract review can be a tedious and error-prone task that often takes a lot of time and ties up valuable resources.
faster analysis
Using AI in contract analysis, companies can speed up the contract review process. Software scans and analyses thousands of contract pages in a matter of seconds, significantly reducing turnaround time.
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AI systems identify patterns and anomalies in contract data, offer a high level of accuracy in identifying risks and opportunities that are hidden in contracts, and thus improve the quality of the data.
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By automating the contract review process, companies can save costs and use resources more efficiently, which significantly reduces administrative costs.
Case Study
By switching from a simple filing system based on initial letters to a sophisticated AI-supported contract system, ID was able to radically improve its contract management and structure it efficiently. Contracts can now be found and assigned quickly, which significantly speeds up business processes.
The AI-supported contract analysis enabled an in-depth evaluation of contract data. This not only brought structure to contract administration, but also enabled an efficient search and analysis of the information contained in the contracts. Relevant data can now be quickly found and used for business decisions, which opens up a new level of information acquisition and use.
service
Investing in AI-powered contract analysis tools is a wise decision for companies that are modernizing their contract management and looking for a solution to the challenges of traditional contract analysis.
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Identify the key parameters of your contracts that should be extracted to provide a clear overview and in-depth analysis.
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Use AI-supported contract analysis to verify and ensure compliance with legal and internal corporate requirements.
Discover a structured and efficient workflow to take full advantage of AI-powered contract analysis. With clearly defined steps, we enable a smooth integration of AI analysis into your contract review process.
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The first step is to define the specific information that is to be extracted from the contracts. This forms the basis for the subsequent analysis and adjustment of the AI models.
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You then create playbooks that define the relevant variables and criteria. These playbooks serve as a guide for AI to correctly identify and extract the desired information.
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You then create playbooks that define the relevant variables and criteria. These playbooks serve as a guide for AI to correctly identify and extract the desired information.
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Finally, use powerful filter functions to search, evaluate and quickly find your contracts. With the knowledge gained, you can manage your contracts efficiently and make well-founded decisions.