ContractPodAi®, the award-winning provider of AI-powered contract lifecycle management software, today announced the launch of its Auto-Contract Desk, an enhanced contract authoring and generation tool that helps business users quickly and efficiently create a high-volume of contracts. The new feature responds to market demand for more complex automated contracts, leveraging artificial intelligence (AI) to manage complex logic and calculations. Auto-Contract Desk is offered with ContractPodAi’s full end-to-end contract capabilities including analytics, third-party contract review and contract collaboration.
As businesses look to contract automation to improve the efficiency of their teams, contract generation is the first step in the process. Auto-Contract Desk allows administrators to create contract templates within Microsoft Word. The intuitive interface and leveraging of Word makes template creation a snap. Using the feature, users simply complete a questionnaire linked to the templates, submit and a contract is generated automatically.
“When it comes to contract management, our solutions are focused on achieving greater results with less time and manual effort,” said Sarvarth Misra, co-founder and CEO, ContractPodAi. “Auto-Contract Desk allows legal teams to move away from time-consuming contract generation in order to focus on strategic work. What’s more, our AI capabilities reduce the time it takes to approve contracts, ultimately driving revenue generation.”
The benefits of automated, template-based contract generation are highlighted in a Feb. 2019 Gartner, Inc. report. According to Gartner, Inc., “self-service, templated authoring increases contracting speed and reduces operating cost.” Gartner also states, “the contracts team can easily access tools to create and maintain templates for employees of other departments to use.”
Additional key benefits of Auto-Contract Desk include:
- Incorporates a microservice architecture built with out-of-the-box integration into any platform, including SalesForce.
- Seamlessly ties into e-signature capabilities.
- Efficiently manages complex logic and formats within contracts.
- Provides a simple way to build templates, including clause library support.
- Comprehensively streamlines approval and workflow management processes.
“The market is not just continuing to trend toward contract automation, but is demanding complex logic-oriented solutions,” said Viraj Chaudhary, COO, ContractPodAi. “ContractPodAi is ensuring that AI-driven efficiency exists at every step of the contract lifecycle management process, starting at the beginning with contract generation.”