ContractIQ
ContractIQ
Digitize, Manage Risk and Provision Standard and Third Party Supplier contracts
CONTRACT LIFE CYCLE & RISK AUTOMATION
Decision Engines ContractIQ product utilizes patented AI and ML Bots to empower legal and non-legal Business Teams to extract key elements of contracts, track, analyze, and manage risk during the course of the contract life.
Legacy Contract Migration
Migrate Contracts from legacy document stores with intelligent content extraction to modern document stores and CLM systems.
Contraction Execution Risk
Track key contract obligations and deliverables during the course of the contract lifecycle and eliminate risk during the execution.
Contract Digitization
Digitize existing and new contracts post-signing and create a single searchable store of contracts as well as update key systems with contract performance data.
Contract Enforcement
Tie key contract field data into other systems such as AP or AR to enforce contractual agreements such as billing rates etc.
Contract Risk Mitigation
Track deviations of clauses and field values from company standards during negotiations to optimize total contract risk.
Contract Renewal Risk
Ensure higher renewal rates by analyzing key field values and corresponding performance metrics to surface high-risk contracts and actively mitigate renewal risk.
Extract 90% accuracy for standard clauses & fields
Decision Engines ContractIQ product utilizes patented AI and ML Bots to empower legal and non-legal Business Teams to extract key elements of contracts, and track, analyze and manage risk during the course of the contract life.
Decision Engines solution is pre-trained on thousands of contracts and legal documents to automatically extract common clauses and fields from a variety of machine incompatible documents such as PDF’s and Images. The solution is 90% accurate for standard clauses and fields out of the box resulting in an immediate ROI.
Realtime Learning
The solution utilizes active learning bot technology to learn custom clauses and fields that business users markup using a highly intuitive UI. This closed-loop learning technology enables rapid improvement in accuracy as well as adapts the solution in real-time to specific customer needs without the intervention of IT teams.
Risk Scoring
Decision Engines risk scoring bots can be configured to apply rules and AI to compute risk based on deviation from standard clauses or specific field ranges. This helps legal and delivery owners to manage risk without getting lost in hundreds of pages of legalese
Any Document Type
Our platform support all formats like TEXT, EXCEL, IMAGE, PDF, WORD from different sources like FTP, GDRIVE, eMail and business applications like Salesforce, Apttus …etc
End-To-End Automation
Using the many integration bots available on the platform combined with the ability to write custom bots offers limitless possibilities in achieving the level of automation desired all on the same platform. This greatly reduces project risk and simplifies the IT landscape.
Auto Scaling
ContractIQ is built on the robust Decision Engines Intelligent Process Automation platform and scales to any volume elastically based on customer needs and SLA guarantee requirements.
Get started on your automation journey
Decision Engines automate knowledge work in collaboration with your team, resulting in significant operational savings.
