Contract Discovery technologies and processes facilitate extraction of key information such as counterparties, renewal milestones, obligations, phrases and provisions from hundreds of thousands of contract documents stored in organizational network drives, folders, SharePoint and other Cloud repositories.
At Optimus BT, we leverage our know-how of enterprise contract processes and document technology expertise to implement Contract Discovery enabled solutions for contract, legal and compliance teams. Our discovery solutions and AI enabled platform has improved contract visibility, legal productivity, and compliance across organizations in multiple industries.
Core capabilities in our Contract Discovery solutions include, but not limited to contract data extractions and visualization, automated reviews and redlining, Text analytics for clause language evaluation, speciality contract trainable models, contract topics, sorting and scoring.
Legacy Contract Analysis & ProvisioningExtract essential contract data from documents scattered across Network drives, SharePoint sites, Emails and various other document storage. Identify counterparties, relationships, amendments, duplicates, non-standard language while building an organized, searchable contract library with intelligent contract import solutions.
- Content Asset Appraisal
- OCR and Search Indexing
- Attribute Harvesting and Tagging
- Contract Provisioning
Clause Analysis & Legal Review AssistanceImplement contract discovery to large-volume legal reviews and approval queues to reduce cycle time and effort up to 70%. AI programs with active re-learning abilities utilize user activity such as clause usage, positive and negative outcomes to produce to extreme levels of accuracy in contract scoring, non-compliance identification, auto-assignment and topic analysis.
- 3rd Party Contract Review
- Backup / Alternate Recommendation
- Legal Research and Feedback
- Clause Language Comparison
Compliance Search and WorkflowsDramatically reduce human capital and error while executing policies, regulatory mandates and compliance action, specifically on a enterprise level contract portfolio. Contract discovery can drive intelligent workflows, document flagging for personally identifiable and other sensitive information, identifying high risk counterparties, and ones that require compliance related obligations.
- Detect PII / Confidential Data
- Phrases & Keyword Search
- Automated Flagging & Workflows
- Contract Governance Review
Contract Profiling & MonitoringUse discovery tools to extract and build a multi-faceted profile each contractual relationship such as milestones, control metadata, obligations, financial provisions, commitments, contacts, sub-agreements, correspondence and counterparty relationships. Improve efficiency of contract operations through alerts and better visibility such as status updates, events, noticies and activities.
- Contract Profiling
- Rules based Alerts & Notifications
- Incident Management
Content Asset AppraisalGet an overview and metrics of your legacy contract inventory in minutes.
Attribute Harvesting and TaggingIntelligent rules based attribute extraction from text and auto-tagging.
Non-standard and 3rd Party Contract IdentificationTrain discovery models to identify out-of-place, heavily negotiated 3rd party documents.
AI Models TrainingTrainable AI models that understands your type of contract, language and control data.
Contract Profile BuildingBuild a Contract profile from scratch with contract facets, facts and datasets aggregation.
Document Cleanup and Data MaskingTurn on filters to automatically mask sensitive information or clean them up; Stay compliant!
Seamless Provisioning for CLM or AnalyticsCurate the extraction results to automate CLM process or build contract analytics.
Contract Dataset BuilderVisualize contracts with dataset extracts integrated with your reporting and BI tools.
Data EnrichmentEnrich your contract profile and fill in gaps with historic or external information.
Clause Discovery and Control Data MiningSimplified discovery setup with simple template, samples and playbooks.
Topic based ClassificationAutomatically build a topic library; organize and queue up your contracts for processing.
Document Relationship IdentificationUnravel hidden relationships within your Contracts and Counterparties.
The ability to apply AI to a very large volume of contract documents opens up new ways for business leaders to look at contract portfolios, and utilize them as a strategic driver. The success of contract discovery implementations relies on sufficient quantities of curated learning data and companies should expect huge compounding benefits over a period of time. Once live, they improves with every piece of data processed and continue to become smarter, faster, and accurate that autonomously
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