Agiloft, a global leader in contract lifecycle management (CLM), has introduced a new generative AI (GenAI) capability that simplifies the contract negotiation process. This advanced technology enables users to streamline the redlining, negotiation, and finalization of contract terms, significantly increasing efficiency and productivity.
With Agiloft’s GenAI capability, users can leverage language from their existing clause library or create new content that closely aligns with the text of the contract being negotiated. By working closely with early adopters, Agiloft is continuously improving and enhancing its connected, intelligent, and autonomous contracting processes to help companies unlock the true value of their contract data.
Andy Wishart, Chief Product Officer at Agiloft, shared his excitement about the new generative AI capabilities, emphasizing their aim to address the common problem of excessive redlining in contract negotiations. By employing generative AI, Agiloft’s technology understands approved clauses, reviews third-party contract language, and generates redlines that combine third-party contract language with legal’s preferred phrasing. This innovative approach reduces the back-and-forth negotiations between parties and expedites contract execution.
This latest development from Agiloft is a testament to the rapid advancements in the field of AI and its potential to revolutionize contract management and negotiation processes. By leveraging generative AI capabilities, companies can streamline their contract workflows, reduce manual work, and accelerate their overall business operations. Agiloft’s commitment to continuous improvement and innovation ensures that its clients stay ahead in this fast-paced AI landscape.
In today’s competitive business environment, organizations need efficient and effective contract management solutions. Agiloft’s new generative AI capability provides a powerful tool that enables businesses to optimize their contract negotiation and review processes, ultimately enhancing productivity and driving business success.