LogicManager’s Risk Analyzer AI enabled:
Time is no longer a constraint on your ability to review and analyze your contracts. Our Contract Analyzer leverages LogicManagers groundbreaking new Risk Analyzer AI functionality to facilitate auto-extraction of key contract terms like renewal dates, notification requirements, liability limits and dispute resolution terms so you can automatically send reminders, kickstart reviews or trigger workflows to easily stay on top of things.
It’s easy as 1, 2, 3:
Click on the “Contract Analyzer” button.
Select a contract to analyze, and choose which terms you would like to extract, and click “Analyze.”
Hang tight for a few minutes while we do the analysis, then simply review and save your results.
Take a Risk-Based Approach to Contract Analysis
While the AI-powered analyzer is great on its own, we didn’t stop there. LogicManager now provides a Risk-Based Contract Analysis, which leverages the context of both our Contract Analyzer and the True Risk Calculator to – in short – help you instantly determine whether a contract is “good” or “bad.” Here’s how it works:
Proactively identify issues at the start of a vendor evaluation.
Once you’ve extracted key terms of the contract, sit back and watch as LogicManager ties them each to your organization’s unique risks. Then, automatically calculate whether that vendor’s contract adequately mitigates or fails to mitigate those risks. This can all be completed without ever needing to open the contract yourself.
Empower your vendor team with more insights than ever.
It’s easy to look at a contract, but without context, it’s impossible to determine if it’s right for your organization. This process of strategically gathering information to fuel your decision-making process can be arduous without ERM software, but the risk-based contract analyzer auto-extracts contract terms in the unique context of your organization’s risk taxonomy so that you don’t have to. Identifying issues earlier on helps you expedite the entire legal process.
Better understand and communicate the effectiveness of a contract.
Tying contract clauses to your risks helps you identify negotiation opportunities and provides context and evidence to support your arguments. It’s one thing to tell a vendor that their policies are simply not up to your standards, but it’s another to provide them with specific, actionable next steps; which one of their clauses is not effectively mitigating which one of your risks?
Check out these resources to view Contract Management through a risk-based lens.