App Orchid Deploys Newest Version of ContractAI
Enhanced Data Extraction, Risk Assessment, Template Creation & Collaboration
Date: September 23, 2020 | Location: San Ramon, CA
App Orchid, a leading enterprise AI platform and solutions company released its newest version (2.0) of its innovative contracting solution, ContractAI. In addition to a completely new, modern user interface, significant enhancements were made in the areas of contract data extraction, risk assessment, template creation and collaboration.
“We are very excited to release version 2.0 of ContractAI where we have leveraged our App Orchid AI platform to make significant breakthroughs in contracting risk assessment. Unlike other analytic tools, ContractAI does not require the user to configure rules or rate clauses to assess risk. ContractAI automatically assesses risk based on the analysis of prior contracts and by leveraging our proprietary contracting knowledge graph,” says Jagadeesh Macherla, Chief Architect at App Orchid.
App Orchid has introduced the following major enhancements in the ContractAI V2.0 release:
- Enhanced Contract Data Extraction – Improve extraction of all contract data with an easy to use Extraction UI which enables refinement of extraction models
- Proactive Risk Assessment – Leverage AI-powered risk models that proactively flag and rate areas of contracting risk on signed and in-process contracts
- Advanced AI powered Dashboards – Configure dashboards to include any relevant contract data in areas such as Insurance, Payments, Liabilities, etc.
- Dynamic Rule Building and Clauses or Templates – Define rules and variables for contract language that dynamically change your template language and clause options
- Supplier Risk Assessment Summary – View a deal summary that provides a contract risk grade for each supplier and a rating of risk by clause
- Secure Chat – Collaborate with other reviewers internally with a secure chat feature to send notes, provide feedback and propose changes
To learn more about the new features in ContractAI V2.0 release, please visit contractai_v2.0
To learn more about how ContractAI can help accelerate time to contract while reducing contracting risk, please visit contractai.apporchid.com
About App Orchid
The App Orchid platform helps enterprises build AI fueled apps. The App Orchid platform uses deep learning and natural language processing with business specific content delivered through knowledge graphs, to create powerful predictive apps. ContractAI, is an AI-powered SaaS-based solution that dramatically improves the analysis, creation and negotiation of contracts. ContractAI utilizes AI to automatically ingest and analyze historical contracts to author templates based on terms that were proven win-win. ContractAI eliminates the painful redlining process by giving suppliers vetted clause options. For more information please visit www.apporchid.com