In today’s CLM landscape, the significance of GenAI-powered CLM has a far-reaching impact on enterprises’ growth and profitability. SimpliContract’s AI-first CLM solution helps streamline CLM processes in enterprises, boosting performance and productivity across their contract lifecycle. Tavant, a leading IT player in the industry, leverages SimpliContract’s AI-powered CLM to overcome challenges, improving visibility into their contracts with instant access to contract summaries, real-time reporting while reducing contract TAT by 40%.  

In this blog, let's discuss how SimpliContract's AI-powered CLM platforms can boost your CLM journey and help achieve desired outcomes.

AI-First CLM Features: Simplifying your Contracting  

SimpliContract’s  GenAI-powered CLM solution provides an all-in-one easy-to-use platform facilitating seamless collaboration from pre-sign to post-sign phases in the CLM journey. Our unique CLM features include:

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1. SimpliAuthor

Allows self-serve requisition request from your existing CRM or P2P, AI-assisted reviews and negotiations, and provides intelligent contracts for your faster negotiations. Specific AI & Analytics features empower you to-

• Request contracts from your own favorite tools.
- Create AI-infused workflows.
- Automatically builds contracts with legal-approved clauses based on intake fields.

• Work together/collaborate in real-time across platforms.
- Collaborate in real-time with multiple co-authors in MS Word editor.
- Ensure constant contract visibility and hassle-free stakeholder access - Converse, share documents using a simple to use collaboration portal.  

• Effortlessly negotiate using industry’s most intelligent AI-Native Risk Analyzer.
- Get redline suggestions for your contracts.
- Talk to your contracts in simple, natural language about prevailing terms, legal precedents, etc. AI-enabled virtual contract assistant can help you navigate in depth.

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2. SimpliStore

‍SimpliContract’s SimpliStore, provides a one-in-place repository for all your company’s contracts, propelling effortless data discovery and insights upon seconds. The unique centralized virtual store/repository is equipped with supercharging AI features allowing you to:

• Centralize Intelligently.
- SimpliStore organizes contracts with an audit trail of versions and statuses across their lifecycle, integrates with systems like Salesforce or Microsoft, and syncs with ERP, P2P, or CRM platforms.

- Its advanced risk analyzer extracts clauses, benchmarks terms, provides risk scores, redlines, and alerts for renewals, terminations, expiry dates, and obligations, enhancing negotiation and management.  

• Uncover data-driven patterns and gain valuable insights.
- The AI-powered CLM platform SimpliStore has a unique feature to extract, analyze and report on 320+ key contract data points such as expiries, renewals, obligations, SLAs, and many more. The AI-enabled analytics helps you in monitoring contract performance.

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3. SimpliAI

‍SimpliAI is the revolutionary GenAI infused CLM feature with unique capabilities far more intelligent, reliable, and autonomous than any traditional CLMs. Its compelling features allow you to-

• Metadata extraction. It allows you to extract metadata such as expiry & renewal terms, payment terms, contract value, price escalation, and many more.

• Leverage GenAI- SimpliAssist, industry’s most capable AI-native risk analyzer powered by the Generative AI technology. It allows you to negotiate faster with Generative AI Assistants to review contracts maximizing your efficiency and productivity.  

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Our world-class GenAI assistant is completely dedicated to giving you a competitive edge over others. Try it now!

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4. AI-Powered Contract Analytics

‍Exclusive AI- contract analytics platform features include-  

• 100% No-code configurability feature.  

• Seamless integration with existing repositories like SAP Ariba and Coupa.  

• Metadata, obligation, clause extractions.  

• Risk analytics.

• Conversational AI – search for data and insights.  

How Tavant Leveraged our GenAI-CLM Platform: A Success Story  

Tavant is a digital product and platform company that provides digital solutions to its customers across North America, Europe, and Asia-Pacific. The company was facing acute CLM challenges on their sell-side which were solved using our AI-powered CLM solution -  

Challenge #1: Handling multiple repositories as contracts were stored in multiple locations, and locating a contract based on specific search filters was not possible.  
Solution: Adopting SimpliContract’s centralized repository which enabled them to store all their contract documents in a single store with a role-based authorized access capability. This immensely improved their contracts’ visibility.  

Challenge #2: High cycle time to complete a contract as they were unable to extract key data including milestones, terms, and clauses.  
Solution: AI-powered search engine enabled metadata extraction helped the team to gain one-click access to key dates, critical clauses, and terms in a contract helping solve the challenge.  

Challenge #3: Lack of visibility into contract expiries as users could not track the contracts by status, and upcoming contract expiries, to initiate the renewal/termination process.  
Solution: SimpliContract’s AI-CLM provided customized dashboards that enabled users to efficiently track contracts by status, type, and gain one-click access to contract information based on extracted metadata and specific KPI.  

Challenge #4: Lack of reporting and contractual insights as they could not access the latest data updates to make data-driven decisions.  
Solution: The CLM-platform derived real-time insights on contract performance and generated expiry and SOW reports in the form of pie-charts for easier consumption. Periodic expiry alerts allowed them to initiate the renewal/termination process and make data-driven decisions.  

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Interested in exploring our wide range of AI-powered CLM platforms, and choosing the one that suits your unique CLM requirement? Download our case study for more insights.

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SimpliContract’s next-genAI-powered CLM platform provides state-of-the-art automation and intelligence facilities to enterprises allowing their seamless CLM journey. No doubt, our industry’s best AI-powered contract analytics' tool and other CLM capabilities are empowering companies improve contract lifecycle & boosting ROI.

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DOWNLOAD CASE STUDY