Manual contract review can be tedious and time-consuming. This leads to delays that affect sales processes and contract deadlines – and in some cases can even result in fines.
Local and global regulations are subject to constant change. It is important to comply with the changed regulations, especially if they can lead to penalties.
In addition, due to the different levels of experience and workload of your staff, the quality of their work is not always at the same level. Things can be overlooked.
And this is exactly where our AI semantha® can help: It understands text based on meaning, regardless of word choice – so you find content you’re looking for, no matter how it’s worded – out of the box and without extensive training with your data. It thus offers a wide range of functions – whether you are initiating new contracts by checking relevant content and comparing it to old contracts or searching through your existing contracts.
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Time saving
With semantha®, our reference customers can save an average of 40% time in answering customer requirements and in checking framework agreements. -
Cost saving
Time is money – Every minute you save in your company you can spend on more value-added tasks. Not only do you save money on faster processing, you can also process and accept more requests. -
Risk minimization
Do you sometimes not have the possibility to check all customer documents in detail due to high time pressure? With semantha’s assistance you can increase your attention to detail and minimize potential risks.
Contract Analysis & Comparison
In your company, contracts have to be reviewed regularly and with a high manual effort. In most cases, the content to be reviewed is similar. The problem is that every contract is worded and structured differently, which makes automation impossible.
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In our library, you can define content for which new incoming contracts should be checked. semantha® finds the passages based on the meaning, independent of the word choice and completely without “training” with your data. This way, the appropriate response is quickly found for every submission.
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Using our Compare, you can compare previous correspondence with new incoming correspondence. semantha® shows you which contents match and which contents are missing – out of the box and without time-consuming training with your data.
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In addition, you can use our Compare feature to compare different versions of a contract. semantha® shows you which contents have remained the same and which areas have been changed or removed completely.
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With our data extraction, you can easily extract relevant data points from documents and process them further. The combination with semantha’s® natural language understanding is particularly helpful, as it allows you to find and extract data points in specific contexts.
