Make data-driven decisions and achieve organizational agility to deal with catastrophic events using advanced contract analytics.
Be Agile When Catastrophe Hits
Geo-political events, pandemics, and shifting supply chains are all exposing questions that need immediate answers. Use advanced contract analytics, automation and content transformation that leverages AI to quickly find, clean and mobilize data-driven answers.
So much data that needs to be mobilized is hidden in thousands of contracts. Let automation and trainable AI help lawyers and legal teams find the right answers in the data. Adlib’s Contract Analytics leverages a new approach to natural language understanding to analyze relevant information from large quantities of contracts quickly and with an accuracy that is difficult to achieve at scale with manual labor and with other contract analysis tools. Extract and classify key information, search within individual contracts or an entire database, compare contracts against a template or previous versions and obtain valuable insight about the information hidden in your contracts. Give procurement, legal, governance, compliance & risk teams full visibility into their contracts and proactively analyze areas of exposure.
Focus on High-Value Work with more Efficient Contract Review and Analysis
While software for legal document review has existed for years, it typically only helps companies store and organize their contracts. Adlib’s Contract Analytics uses AI and raises the bar allowing teams to identify contract types (even in multiple languages) based on pattern recognition. Given our citizen data scientist approach, we allow you to build and execute training sets to recognize patterns and extract key variables (clauses, dates, parties, etc.). Legal firms and enterprises can update their contracts more regularly, and focus more on their role as counsel instead of contract reviewer. Empower governance, risk, compliance, and legal teams to protect your business and prepare for the future.
Contracting is the lifeblood of enterprises, but it is one that few companies do efficiently or effectively. In fact, it has been estimated that inefficient contracting causes enterprise to lose between 5% to 40%of value on a given deal. The main challenge is the sheer number of contracts they manage. With Adlib's Contract Analytics you can significantly reduce the vast amount of manpower to draft and execute contracts. Reduce hundreds of hours to minutes and easily extract data, clarify the content of contracts, quickly pull, and organize key contract data. Review contracts more rapidly, organize contract data more easily, decrease the potential for contract disputes and increase the volume of contracts you can negotiate and execute with Adlib.
Adlib’s Contract Analytics can quickly assess risk in contracts (performing the risk analysis much faster and delivering answers to legal teams rapidly) by identifying terms and clauses that are suboptimal. And it can reduce the risk of human error in contract drafting and review. Lawyers and counsel will spend more time on assessing risk and providing advice, rather than document review. And instead of having a team of associates conduct due diligence the software flags and then offers advice. Adlib’s Contract Analytics lead to a better use of legal talent and allow contracting to become faster, better, and easier.