Aavenir, a next-generation AI-enabled Source-to-Pay solutions provider, announced advancements in its Contractflow solution, an AI-enabled contract lifecycle management software built on ServiceNow. Contractflow accelerates pre and post-signature contract lifecycle with vendors, customers, employees, or partners while keeping everyone informed about the contract status.
The new release enhances contract approvals, analytics, and workflows. Aavenir’s AI capabilities has been amplified with the highest-possible accuracy for automatic contract data extraction. These features makes Contractflow the most matured software for contract authoring, review, signature, obligations management, analytics, and renewals.
“No matter how great its functionality, a system can’t deliver game-changing value if it isn’t adopted broadly.” said Jesal Mehta, CEO and founder of Aavenir. “The new updates are intended to increase engagement for existing users and accelerate new user adoption. The AI-based extraction provides contract managers a faster and best-in-class contracting experience”, he added.
A glimpse into some of the great capabilities introduced with this release:
- Aavenir AI Engine extraction has been advanced with the state-of-the-art deep learning that understands contracts like humans – comprehends variety of contract data (terms, clauses, SLAs, obligations), identifies deviations from clause libraries, and defines workflows for next steps.
- Contractflow Dashboards includes contract status and product usage metrics that enable administrators to analyze workload bottlenecks and maximize adoption.
- Contract Repository offers more advanced search by clauses and meta-data across contracts. Repository’s intuitive browse view enables easy navigation through contracts, attachments, and related contracts in a folder structure.
- Contract Governance has been enhanced with a centralized tracking of all contract related email conversations, both incoming and outgoing.
- Contract Approvals offer tighter controls and speed through more flexible workflow with dynamic approver selection and detailed audit trails.
With these and more features, Aavenir truly transforms contracting processes for organizations across industries.
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