February 13, 2021

App Orchid releases v2.1 Version of ContractAI


Sathya Ramnath

Release 2.1 is a major update to the ContractAI platform. The release includes new features for all three applications of ContractAI, enhancements to existing features in all three applications, and key issue fixes as well.

Collaboration Application

Award Workflow: Contract Download

Suppliers can download the signed contract as a PDF after finalizing, as well as after awarding/signing where applicable.

Variance Functionality: Manual Options

When a buyer gives a supplier a “blank card variance” (or manual option) enabling them to write their own variance to a specific clause, that manual option will not have any points associated with it, or a risk level. Upon drafting the manual option, the supplier sends that language to the buyer for review, and the buyer assigns points and a risk level.

Buyer Application

Test Deals

A separate area for the creation of test deals. This allows users to access a “playground” where they can set up deals and preview the functionality without the deals being saved or sent to suppliers.

Negotiation Flow: Cancel Deals

Deals can now be cancelled by Buyers during negotiation for any reason. An automatic email will be sent to suppliers informing them of the cancellation.

Preview of Contract

As a foundational change before contract authoring (planned 2.2 release), users of buyer can now preview the contract created through the New Deal experience before sending to suppliers.

Variance Functionality: Manual Options

Buyer users review all Supplier language in manually added clause options. Buyers can accept/decline the clause option, set points, set the risk level, and write an explanation for their decisions for the supplier to consider when the manual clause option is returned.

Analyzer Application

Template Versioning

A foundational change for the document repository organizational structure (planned release for 2.2), this feature enables the ability to create, update, delete, and compare multiple versions of the same template within simple verisoning interface.

Variance Approval Workflow

Ability to add reviewers to a template in analyzer, and assign them clauses. Within clauses, they can review variances, and approve/reject their inclusion for suppliers in future deals against that template.

Feature Enhancements

Collaboration Application

Approval Workflow: Multi-reviewer task management

Multiple Reviewers will be able to access and review the same clause, for parallel approvals and acknowledgement within the supplier organization.

Buyer Application

Support for Template Versioning

Buyer application supports the Versioning feature in Analyzer in both deal creation and version tracking for deals.

New Filters in My Deals Page

Addition of new filters to the filtering of the My Deals page, specifically filtering by deal creator and and deal status.