Ganesh_oscar

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About Ganesh_oscar

Smart Contract Analytics (SCA) is a comprehensive Contract Discovery and Analytics platform powered by Artificial Intelligence & Machine learning. visit now: https://www.docskiff.ai/

The Role of AI in Streamlining and Improving Contract Reviews:

Ganesh_oscar03 Feb, 2021Business

“By 2024, the amount of manual effort for contract review will be reduced by 50% for those that adopt advanced contract analytics solutions.” Gartner Report on Contract Analytics The current state of Contract Reviews The departments that are mostly involved in dealing with Contracts are Legal and Procurement and the adoption of the AI tools for contract review is still in a nascent state. As the contracts are getting more complex and accelerated by Covid-19 to go fully digital, there are several key areas related to business processes and human involvement wherein the Contract Analytics tools can bring in efficiencies from different perspectives. For example, manually keying in key contract data into an Excel sheet or even into a CLM system is error-prone and makes it difficult to keep track of obligations such as renewing the contracts on time, ability to keep track of contracts that are not in force (expired).

AI Contract Analytics Software

Ganesh_oscar02 Jan, 2021Business

Intelligent contracts management for actionable insights The platform enables C-level executives, legal personnel, sales & operations teams, and the IT department to be on top of their game when it comes to accessing contracts and identifying action points. As a one-stop solution for contracts management, the platform enables extraction, review, and analysis of contracts and related documents, helping enterprises to ensure delivery of contractual obligations, adherence to legal compliances, and proactive actions for risk mitigation.

spotting contract deviations using artificial intelligence | Contract Analysis Software

Ganesh_oscar21 Sep, 2020Business

When organizations enter into a business relationship with customers, vendors, or suppliers the means of establishing the relationship is by signing a contract. Most of the organizations have legally vetted contract templates with standard clauses when entering into an agreement with the second party. However, for various business reasons, some clauses are changed or a new language is introduced before entering into an agreement.

How OCR can help in better contract management

Ganesh_oscar26 Aug, 2020Business

How are contracts mostly handled Contracts are an integral part of the business in any organization. Depending on the type of the company and how long the company existed there are several ways contracts would have been created and managed. However, whatever the contract management process that an organization might be adopting to, there will be a lot of active contracts that are still written on paper or signed / scanned and stored across document repositories or network drives or any existing contract management systems. Just having these legacy contracts on your systems does not help the organization much as these are non-searchable and hence have incredibly low visibility and also prone to operational risk Apart from the legacy contracts there are other cases where the contracts are executed outside the organization (for example, executed on third party paper) and are scanned and emailed back to your organization. These contracts are just uploaded into your existing document.

Unlock the real value of your legacy contracts with AI

Ganesh_oscar11 Aug, 2020Computer & Internet

Organizations have evolved in the way the contracting process is carried out. While some are managing their contracts using the combination of MS Word and email collaboration, some have adopted automated contract management systems to help with contract drafting, redlining, and authoring.

when do you need contract analytics software

Ganesh_oscar04 Aug, 2020Computer & Internet

Every organization has business relationships with Vendors, Partners, Customers, and contracts are the most important instruments establishing the business relationship and establishing the performance obligations of the parties involved. Depending on the type of business an organization is into, there can be outbound contracts (to the market) and inbound contracts (from the market).

Gain Contract Visibility with AI Powered Contract Analytics | Contract Analysis software

Ganesh_oscar04 Aug, 2020Technology

It is understood that across the world around 60% of the medium to large scale enterprises are handling contracts manually using word templates or excel spreadsheets. Word templates are basically used to draft the contracts including necessary clause redlining and commenting and once authored these contracts are scanned and stored in various repositories across the organization. Depending on the nature of the organization and its business model sometimes these contracts are consolidated and stored in a centralized repository like SharePoint where different department users have access depending on their privileges.

How AI based contract analytics software helps automate contract reviews?

Ganesh_oscar13 Jul, 2020Business

Contract review with in-house legal teams or external legal firms is common and, in most cases, organizations use standard vetted templates while entering a business relationship with customers or suppliers. Organizations will use only the standard legally vetted contract templates when signing up with any vendor or customer but it is possible that standard contract templates of your organization are not accepted by the other party and in turn expect you to agree to their standard template. This is called â€œaccepting third-party paperâ€. When you accept third party agreements here are some of the issues you are expected to encounter

AI based Contract analytics to spot and mitigate contract risks

Ganesh_oscar13 Jul, 2020Business

Contracts are essential to any type of business and they determine the obligations of both the parties entering into a business relationship. Most of the organizations use their internal legally vetted contract templates when signing up with the other party but in some cases, there will be a need to agree to the other party paper which is also called the â€œThird-party paperâ€.

Contract Discovery & Insights with AI & ML

Ganesh_oscar29 May, 2020Technology

Lapses in adherence to contractual obligations can have adverse cost and legal implications, making it imperative for enterprises to implement a robust contracts management process. The presence of diverse systems and the absence of a consolidated view into contracts existing in silos make it difficult to track milestones, resulting in delayed renewals, inconsistent pricing, and loss of revenue. Our Smart Contract Analytics, a comprehensive contract discovery and analytics platform powered by AI & ML, provides 360-degree insights into contracts and related documents, to help enterprises make data-driven decisions.