Icertis is the AI-based contract management tool that will convert contracts into strategic assets and give you valuable insights. It ensures that the contract prepared is compliant and is best for enhancing decision-making.

Features:

• With AI usage, the tool helps you create contracts in no time.
• Supercharged contract negotiations will be done quickly with the help of AI.
• It becomes easy to get risk insights and alerts.
• Structure the contract data to offer you deeper analysis and actionable insights.

Pros:

• Easy to integrate with popular tools developed by top enterprise companies.
• Built-in e-signature capabilities let you build integrated workflows with ease.

Cons:

• The response time from the customer support team is late.
• The learning curve is steep, and users must learn advanced features to use the tool optimally.

Pricing

• Not available

Link: https://www.icertis.com/

AI contract management Tools are transforming the way companies handle legal agreements. This technology uses artificial intelligence to help legal teams manage contracts more efficiently. AI tools assist with creating, reviewing, and organizing contracts. With AI, businesses can save time, reduce errors, and improve compliance.

AI tools offer many benefits for contract management. They provide faster contract drafting and review, which speeds up the process and helps avoid costly mistakes. AI can also identify risks and ensure important contract milestones are met. By automating routine tasks, AI allows legal professionals to focus on more complex work.

In this article, we will explore the 7 best AI tools for contract management. These tools can help businesses streamline their contract processes and improve decision-making. Let’s take a closer look at how these AI tools can make a positive impact on contract management.

What is AI for Contract Management?

AI for contract management is when companies use artificial intelligence (AI) technology to help them handle contracts more effectively. Contracts are legal agreements that businesses use for many purposes, such as hiring employees, working with suppliers, or making sales. AI can help manage contracts throughout their entire lifecycle, from creating them to making sure they are followed correctly.

Here are some ways AI is used in contract management:

1. Drafting: AI can provide templates and suggest standard clauses for new contracts.

2. Review: AI quickly checks contracts for important terms and potential risks.

3. Risk Assessment: AI identifies legal, financial, and operational risks in contracts.

4. Search and Retrieval: AI makes it easy to find specific contracts or clauses.

5. Compliance: AI tracks key contract dates and sends alerts for important events.

6. Insights: AI provides analytics on contract data to identify trends.

7. Automation: AI handles routine tasks like data entry and reporting.