There are a growing number of great use-cases for using AI in a business - the team at Evisoft have provided another in the Contract Lifecycle Management space. Managing contracts efficiently and effectively is crucial for ensuring compliance, mitigating risks, and driving operational success. Evisort, a pioneer in the realm of AI-powered contract lifecycle management (CLM), offers innovative solutions to address these challenges. In this blog post, we explore who Evisort is, what they do, and how their AI-driven technology transforms contract management for businesses worldwide.
Who are Evisort?
Evisort was founded in 2016 by a team of MIT and Harvard graduates, with the vision to revolutionize contract management through artificial intelligence. Headquartered in San Mateo, California, Evisort has quickly established itself as a leader in the legal tech space. The company's core mission is to help businesses make and keep their promises by connecting contract data across critical business systems. Evisort’s AI technology has been recognized for its innovation and impact, garnering attention from major industry players and esteemed publications.
What does Evisort do?
Evisort provides a comprehensive AI-native platform for end-to-end contract lifecycle management. Their solutions cover every stage of the contract process, from drafting and negotiation to execution and analysis. Here’s a closer look at their offerings:
Contract Drafting and Negotiation: Evisort’s platform streamlines the drafting and reviewing process with dynamic templates and automated workflows. This reduces manual effort and accelerates contract approvals.
Contract Execution: The platform supports seamless e-signature integration and real-time collaboration, ensuring contracts are executed efficiently.
Contract Analysis and Reporting: Evisort’s AI transforms contracts into searchable data, providing deep insights and actionable intelligence. This helps businesses identify risks, uncover opportunities, and make informed decisions.
Contract Management and Automation: With features like automated data extraction, customizable AI, and configurable workflows, Evisort simplifies contract management and enhances compliance.
AI for Contract Lifecycle Management
Evisort’s AI-powered solutions are designed to tackle the complexities of contract management head-on. A few good customers examples include:
Microsoft: Evisort’s AI helps Microsoft manage compliance by training custom AI models that quickly adapt to changing regulatory needs. This allows Microsoft to maintain a high level of compliance while reducing manual effort.
Workday: The platform’s AI-powered ingestion capabilities enabled Workday to process a large volume of contracts rapidly, delivering significant ROI by automating the search and analysis of contract data.
Keller Williams: Evisort’s contract management system provided Keller Williams with fast ROI by simplifying contract workflows and reducing costs associated with manual processes.
Finding new legal-tech
One new piece of technology can transform a business or a department - Legal Tech is no different. New and innovative technology is hitting the market on a regular basis - and this is only accelerating with the advent of AI.
If your business is keen find new technology, our suggestion is to pose the challenges you are facing to the technology vendor community - after all, they are the experts. Like every technology vendor on the planet, Evisort can be included in the Viewpoint Analysis Technology Matchmaker to find new and exciting technology for your business - and they can also be included in our Rapid RFP process.
Conclusion
Evisort stands out as a transformative solution in the field of contract lifecycle management. By leveraging advanced AI technology, Evisort helps businesses streamline their contract processes, gain deeper insights, and ensure compliance. For companies looking to modernize their contract management with innovative, AI-driven solutions, Evisort offers a comprehensive, user-friendly platform that delivers substantial value and operational efficiency.
Explore Evisort's offerings and see how their AI-powered contract lifecycle management can revolutionize your business operations. With Evisort, you can unlock the full potential of your contract data and drive better business outcomes.