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IntelAgree: Contract Management Made Easier

, , , , | August 7, 2018 | By | 2 min read

IntelAgree: Artificial Intelligence for Your Business

When you think about Artificial Intelligence, or AI, what comes to mind? Maybe it’s Siri or Alexa. Or if you want to get really old school, Arnold Schwarzenegger as the Terminator. But what if AI was more than that? What if AI could help you and your team manage your contracts? We know they’re an important part of your business, and we also know that managing hundreds of agreements can be daunting.

So, what if things were different? That’s where we come in. Introducing IntelAgree: contracts made easier.

What is IntelAgree?

IntelAgree is a secure, cloud based contract management software that uses AI and machine learning to optimize your agreements and contract lifecycle management (CLM) process. This is more than a digital assistant. It’s a one-stop shop to simplify your contract management process: the new and improved way to create, negotiate, sign, and manage agreements. To start, you upload existing agreements for digitization. IntelAgree extracts and understands the relevant terms and conditions for your business so that you can easily search them and run reports.  It gets smarter every time you use it, which makes it easier and faster to create new contracts and agreements. And, you got it: that saves you money and makes your teams more productive. Plus, it works with contracts that are sent to you from your customers. Its intelligent adaptation makes all facets of contracts and agreements easier for your business.

Your contract process: It’s time to rock the boat

So we started with organization, digitization, and searchability. But what about process? You might be wondering how IntelAgree can work for your business. Perhaps your current process is fine. It feels like it takes a while, and often requires all hands on deck—but it works!

We get it.

We’ve learned that there’s a wide—and long!—range for getting contracts from verbal agreement to close. For most companies, it can be from 30 to 60 days. Your average might be more or less, but one thing is clear: time is money, and every day that your contract sits in the waiting period is another day of lost revenue. Anything that you can do to shrink that number is a way that your revenue is increased. It might sound impossible, but we can do it. For years our team has been using the Microsoft Azure Cognitive Services API to harness the power of machine learning. But with IntelAgree, our team is going a step farther, and we are taking advantage of recent developments in neural network (in other words, “deep learning”) approaches.

How our contract management software works

Here’s the rundown. IntelAgree makes every step of the contract process easier for your team with convenient benefits like a Chrome Extension. And once a contract is sent, each version is tracked and compared against your standard agreement. Whether it’s your agreement or on client paper, IntelAgree displays the key terms and conditions of the agreement, along with anything unusual or unique, in a simple contract summary. And when all parties are ready to sign? We get it done with secure eSignatures and approval workflows. Paperless and automated: efficient and environmentally friendly!

Throughout that process, your team will get a shoutout on their preferred communication channel any time activity occurs on an agreement. It could be when it comes back from a customer, or later when its renewal date is getting close—no, really. One less thing that you need to keep track of.

And here’s another thing. We also know that every member of your team needs different details from your agreements, because they all have different roles, responsibilities, and priorities. With unlimited users and customizable, actionable dashboards—they’re all covered.

IntelAgree keeps your team compliant and within regulation, too—without the headache. It keeps you in line with rules like IFRS 15/ASC 606 and regulations like GDPR. It remembers all the details, so you don’t have to.

Smart contract management software? So what?

Let’s recap: Manually keeping up with contracts is time-consuming. We can help. Your team has a thousand things that need to be done in addition to keeping up with the contracts. IntelAgree makes it easier for your team to work on contracts from beginning to end. We keep up with the details so that you can concentrate on other things. Not only that, but IntelAgree makes it easier to draw up contracts in the future because it learns from the contracts you put in today. How’s that for Artificial Intelligence?

Our team is on a mission to bring you the agreement hub that makes clunky, manual processes a thing of the past. We’ve collaborated to bring you the best technology in an accessible, secure package. It can’t make your coffee for you, but it can make your work life easier. Are you ready to give it a try? Call or email us today. We’d love to meet you.