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Rise of the One True Contract Lifecycle Management Platform, Part 3

Rise of the One True Contract Lifecycle Management Platform, Part 3

June 20, 2017 Scott Mars Contract Management   Data Extraction  

The Confluence of AI, Good Data, and a Mature CLM Vision

Welcome back for the third and final installment of this blog series. When we last left off, we were talking about me being floored by Jamie’s notion of the Universal Contract Model™(UCM). To re-iterate, the UCM is a simple, yet unparalleled line of thinking that not only lays the foundation for enterprise contract lifecycle management, but dictates how a contract management platform can grow and scale across the entire enterprise.

By now, you’ve probably heard the announcement of our acquisition of Adsensa, a leader in the data discovery, extraction and comparison market. Adding Adsensa’s proven natural language processing and machine learning technology, now Exari Vision, to our world-class leading contract lifecycle management platform puts us in a unique position. At this point, we believe that we are the only CLM vendor in the market that has an integrated (and wholly owned) artificial intelligence solution embedded in the contract management platform.

Last month at a conference in Las Vegas, I heard a great piece of advice that I’d like to share when evaluating artificial intelligence vendors. When you are discussing their solution, ask them what they did before becoming an AI vendor. I feel that Exari has a great answer to this question.

First off, we were founded by a corporate attorney and a PhD in Chaos Theory. We also have a strong background in document generation (our Smart Templates are so good they have a patent on them), contract lifecycle management, and we even have a patent pending on our UCM, which we base our data extractions on.

So, exactly what does Exari Vision do? I’ll keep it simple. With Exari Vision, you can:

  • Extract your contract data with unparalleled accuracy from structured and unstructured documents using the most recent advancements in artificial intelligence

  • Capture data from any contract, whether it’s natively authored, 3rd party, or a legacy agreement
  • Automatically map all of that good data to Exari’s UCM for complete understanding of prevailing language and real-time reporting of any hidden risks. Nobody else can do that. Nobody.
  • Empower you and your user by providing you immediate insight into your contract risk at any level to use contracting as a competitive advantage
  • Identify wording variances between documents using powerful document comparison facilities
  • Provide automated analysis of clauses against a predefined clause library or benchmark language

I can’t reiterate how excited I am to be here at Exari. Our aspiration is to be the “World’s Favorite CLM platform". Maybe that sounds a little cocky, but let me explain.

For us, it’s not good enough to be or even claim to be the best. We want our customer base, now 250+ strong and growing, to be our greatest advocates. To that end we are providing our customers with an embedded data extraction solution to address their legacy data, ongoing 3rd party contracts and negotiations, coupled with our UCM (i.e. good data) for complete visibility, including relationships and prevailing language. Also, a matured contract management platform that brings to bear key elements such as intuitive and configurable self-service authoring, a global content repository, rock-solid UX driven workflow, and lastly prescriptive analytics and dashboards to drive home the value that was promised to the original executive stakeholders.

Thanks again for your time reading through these 3 blog posts. I hope you found them informative and maybe slightly entertaining. If you’d like to learn more, please check out our newly refreshed website or contact us at sales@exari.com.

scott

Scott is Exari's Group VP of Strategic Development. Reach out on Twitter at @smarstx.