Risk Assessment Copilot
Accelerate contract reviews by 40% with generative AI
The Icertis Contract Intelligence (ICI) Risk Assessment Copilot, powered by the Icertis ExploreAI Service, significantly accelerates the contract review process while reducing risk by using AI to compare contract language to a company’s predefined risk parameters based on the contract type.
The Challenge
High volume of contracts that need legal, business review
Enterprise organizations manage large volumes of contracts to ensure they conform to risk management strategies and standards. This includes contract types that rarely require changes. Manually reviewing such contracts eats up time and is subject to human error, costing the business expensive resources and subjecting it to risk.
The Solution
Icertis Contract Intelligence Risk Assessment Copilot
Leveraging the conversational nature of generative AI, users can also access recommendations based on their company’s legal playbook via free-form and predefined prompts. When a contract is submitted for review, the Copilot generates a highly intuitive dashboard with an overall risk score as well clause-level assessments of the contract’s performance against parameters. Results are visually presented via green, yellow, or red risk scores, helping reviewers understand where they need to turn attention, or, alternatively, indicating that the contract meets all criteria and doesn’t require their valuable time.
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Risk Definition, Configuration
Define up to 6 risk criteria for the type of contract, configure and assign a risk score using detailed logic specific to organization.
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Contract Level Assessment and Visualization
Get a final verdict and assign review recommendation (required/ not required) for the contract. View contract’s performance on each of the defined risk criterion on a dashboard. Process contracts in bulk (multiple contracts) and generate a combined risk assessment report for them.
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Clause Level Risk Flagging
Identify whether AI has discovered a “risk” as per risk criterion, clearly color code it and provide additional details on discovered risk (clause snippet pointing to the risk, its section number in the contract etc.).
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Risk Mitigation
Define steps to mitigate a risk and highlight them to the user for the risk identified in the contract.
The Benefits
Faster, comprehensive contract reviews
Icertis Contract Intelligence Copilots
Accelerate your business with generative AI. Safely.
Icertis Contract Intelligence Copilots deliver a step-change in contract efficiency and insights by responsibly harnessing the transformational power of generative AI to turn commercial agreements into interactive assets to drive your business forward.
Icertis ExploreAI
Bringing the power of generative AI to enterprise contracting, responsibly
Icertis ExploreAI is your next-gen AI-powered Contract Intelligence Partner, with generative, assistive, natural language capabilities that enable even greater customer value from unstructured and structured contract data, connected across the enterprise.
Icertis Contract Intelligence
Unmatched visibility of your entire enterprise
Icertis Contract Intelligence is an industry-defining platform. Expect best-in-class Contract Lifecycle Management and so much more, all powered by AI. Giving you the tools to make better decisions every time.
Let's Connect.
Every company's contract management needs are different. Connect with an Icertis team member to discuss how our generative AI copilots can help your organization get the most value out of your contracts.