Icertis AI applications bring static contracts to life
Contracts are the foundation of commerce, and for the first time in history, they are being digitized. Applying AI to this new pool of digitized data transforms contracts from static documents into live contracts which can interact with humans, surrounding systems and ultimately even other contracts.
The Icertis AI apps enable companies to solve previously intractable enterprise contract management challenges that are uniquely suited to an AI-powered solution.
The Icertis approach to AI
To unleash the transformative power of AI into contract management, Icertis is leveraging the unmatched quantity, quality and variety of data in the Icertis Contract Management (ICM) platform today:
- 5+ million contracts and related artifacts
- 40+ languages, from 90+ countries
- 25+ industry verticals
This data represents thousands of contract types and templates, and a unique taxonomy curated from hundreds of thousands of clauses – all mapped to customers’ distinctive semantic structures within the ICM platform.
Benefits of AI-powered contract management
The ICM DigitizeAI app and ICM DiscoverAI app offer intelligent clause identification, accurate attribute extraction, and a powerful data validation interface – all mapped to semantic definitions within the ICM platform. These apps reduce the time to digitize legacy and third-party contracts by up to 80%, improve post-execution contract compliance by up to 90%, reduce cost of compliance by up to 60% and enable the discovery of net new revenue opportunities in legacy contracts.
ICM DigitizeAI App
Bulk import legacy contracts into ICM
Quickly convert legacy contracts into live contracts with the ICM DigitizeAI app. The app allows you to digitize legacy documents in PDF, Microsoft Word, TIFF and other formats and then automatically extract attributes and clauses, at scale, directly into the ICM platform. This allows you to gain new insights into legacy contracts, save time, and improve compliance.
ICM DiscoverAI App
Treat third-party contracts as your own paper
Light up your third-party contracts with the ICM DiscoverAI app. It identifies contract attributes and clauses and semantically matches them directly to your contract type definitions and your enterprise clause library. The app seamlessly guides you through importing third-party contracts, managing clause deviations, and verifying attributes. This allows you to work with third-party contracts just as easily as with your own paper.
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