Artificial intelligence in contract management

Digitalization has changed almost all areas of our lives and has played a major role in the development and implementation of artificial intelligence (AI). AI, as part of the digital transformation, deals with the creation of systems that are able to perform tasks that would normally require human intelligence.

This technology has the ability to analyze data, recognize patterns, make predictions and even learn on its own - offering enormous potential for improving processes and services in a wide variety of areas. The combination of AI and digitalization thus creates a basis for innovative solutions that increase efficiency, reduce costs and open up new possibilities for everyday life.

The innovative integration of AI technologies has the potential to bring about fundamental improvements in contract management. From the automation of repetitive processes to precise contract analysis, the use of AI in this area offers a wide range of benefits.

The AI function of TQG businessApp cloud platform

Quick and easy creation of contract files with correct data
Read out the contents of the contract document
Pre-filled master agreement creation by AI
Individual contract type-specific LCM fields can be supported
Manual review can be integrated

Checking drafts against templates
Efficient analysis through AI
Expandable with your own templates
Clear visualisation of semantic and content-related differences
Can be used for minimal or fundamental differences

Evaluation and assessment of contract-related content
Guided questions in context (contract file/document)
Questions bundled in subject areas (e.g.: contract risks, IFRS, GDPR, ...)
Extension of the evaluation criteria possible

Systematic review of the contract portfolio
Dashboard for evaluating the analysis results
Drill-down option for detailed analysis with AI ContractEvaluation
Extendable list of subject areas / type-specific criteria catalogues

Chatbot integrated into the TQG businessApp cloud platform
Answers question about the currently displayed contract in an easy & efficient manner

Natural language search for content from the entire platform
Delivers suitable contract/files content, taking into account the content/semantic interpretation of the search terms

Direct use of AI functions within MS Word
Display of comparison results from AI ContractReview
Check the existing text with AI ContractEvaluation
Free answering of questions using AI CoPilot

Boost Data Quality of your already captured contract records
AI will compare your existing contract data with how the AI would have captured the contract
Use guided process to review and apply AI recommendations

Continuous quality check of existing contract records
Dashboard for evaluating the analysis results
Drill-down option for detailed review and correction with AI QualityCheck

Events & trends for your digital transformation

Product demo

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Would you like to know more about digital transformation? We invite you to visit us at the TQG offices in Böblingen and Hamburg! You can look forward to a morning full of informative presentations and, above all, many reports from direct practice.

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Webinars

Topics that really interest you in your day-to-day work: Our free monthly webinars for artificial intelligence in contract management, file management, data protection, workflows and eSignature provide you with valuable ideas for your day-to-day business!

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Artificial intelligence in contract management

Artificial intelligence (AI) is having a significant impact on contract management and is currently revolutionising this area enormously. Here are some of the key ways in which artificial intelligence is supporting contract management:

Automated contract analysis

Contract classification

Risk assessment

Contract negotiation

Performance monitoring

Predictive Analytics

Language translation

Compliance with data protection regulations

Improved reporting

Contract management platforms

Artificial intelligence thus contributes significantly to increasing efficiency, reducing risk and improving compliance in contract management. Companies can review and manage contracts faster, minimize risks and make better business decisions based on contract data.

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