As a procurement professional, you need to wear multiple hats: review suppliers’ agreements to evaluate them effectively; make sure agreements comply with your company policies; and select the best offers while avoiding liabilities for you and your company. But without legal professionals this can sometimes be a minefield.
Let’s make contracts your new best friend. No longer are they just long and boring documents, full of jargon and rife with risk. They’re repositories of data that can help you make better, more profitable decisions. You just need another new friend to help you understand each other quickly and effectively.
Cognitiv+ is able to automatically review service agreements, then export key clauses and obligations into your preferred documents or spreadsheets. With Cognitiv+ artificial intelligence technology you can:
- Review hundreds of contracts fast and accurately
- Highlight key clauses and extract them, ready to export into Word, Excel or your everyday tools
- Extract your obligations and deliverables
- Check if your supplier is meeting policy or regulatory requirements
- Optimise supplier relationships and make them more data-informed
- Speed up supplier selection, strategic sourcing and spend analysis
- Identify new savings or revenue opportunities
Clauses Cognitiv+ can extract
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