One of the most significant challenges a modern enterprise faces is properly managing its contract portfolio. This includes buy-side and sell-side agreements, in-house contracts and counterparty paper. While contract lifecycle management (CLM) software can effectively contain contracts, enterprises don’t need their contracts to be ‘contained,’ they need those terms and conditions, obligations, service levels, and service data details to be easily available to everyone in the enterprise.
AI-driven extraction reduces the time required to transform unstructured contract data into meaningful information by 80%. AI is making it possible to convert even complex services agreements into structured data, ‘learning’ over time to increase their accuracy in the face of inconsistent terms and obligations and highly nuanced service level agreements and pricing structures.
Download this whitepaper by SirionLabs to discover the advantages of AI-enabled auto extraction, whether as part of full contract governance or as a standalone capability.