MARCH 2021

Spend Matters Technology Review - ContractAI

This technical report delves into the concept behind ContractAI along with a look at its platform, application and supporting services. This post also has a verified customer reference analysis, a competitive market analysis and key analyst takeaways.

To say that artificial intelligence has become a hot topic in contract management would be an understatement. Whereas even two years ago AI was more of an aspirational goal among contract lifecycle management (CLM) vendors, today many of the best-known technology providers have either internally developed or partnered to bring some set of AI capabilities into their solutions — whether simply to accelerate contract review or to more deeply understand the semantic nuances of their previously executed agreements.

ContractAI, however, comes to the CLM world from the opposite path. It is a standalone product built on an App Orchid’s enterprise AI platform meaning its foundations lie in engines for unstructured data processing, knowledge graph construction and the like, rather than in CLM workflow management or facilitating negotiation version control. This has allowed ContractAI, in a comparatively short period, to develop a competitive solution for legacy contract analysis and supplier negotiation — with an analytical depth that some of its peers may envy.

 

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