Manage your third-party contracts the same way you manage your own with Icertis’ AI-powered clause and attribute discovery.

Challenges in Managing Third-Party Contracts:

Every enterprise today works with third-party contracts. While these contracts form the foundation of business relationships, they can also present serious risks, and are very difficult to manage compared to your own paper.

Common challenges with third-party contracts include:

  • Reviewing these contracts without the benefit of automation is labor-intensive and time-consuming
  • Third-party contract clauses cannot be easily compared to standard clauses
  • Extracting contract attributes with correct semantic meaning is extremely difficult and prone to errors
  • Important clauses cannot be tracked for deviations during redlining, introducing the risk of overlooking critical changes

Benefits of the ICM DiscoverAI app:

The ICM DiscoverAI application on the Icertis Contract Management (ICM) platform addresses these challenges by using the power of artificial intelligence to automatically digitize and analyze third-party contracts. With the help of this app, businesses can:

  • Process third-party contracts faster while reducing risk and improving performance
  • Reduce cycle-time and eliminate errors by automating contract review
  • Increase velocity and avoid risks with better visibility
  • Automate deviation analysis and approval
  • Benefit from redlining, versioning, approval rules, and workflow