iManage RAVN Contract Intelligence

Contracts Contain the Key to Critical Information

Contracts contain the rights and obligations that apply across the organization; yet too often they are created and filed away at great costs to the business. Fortunately, the process of reviewing contracts and legal documents is repeatable. The critical stage in this process, where value is created, is the application of knowledge, the giving of advice and the taking of action. Traditionally this stage is proceeded by a number of resource-intensive, time-consuming, and mundane tasks. iManage Contract Intelligence automates these steps and removes the manual, monotonous, and expensive reviews so teams can focus on making better, well-informed decisions.

The iManage Contract Intelligence mission is to transform the world of contract and legal documents by providing tools that automate the extraction, organization, understanding, analysis, and utilization of the critical information that resides in contracts and legal documents. iManage Contract Intelligence comes with tools designed to be quick to deploy and easy to use by people who work with contracts and legal documents and supported by experts and tools to accelerate ROI.

How Does it Work?

Contract Intelligence uses five easy to use, flexible, and scalable features to support and automate tasks involved in contract and legal document review allowing organizations to get more value out of their contract data.

Quickly transform projects in less time

Contract Intelligence can remove the chaos and organize large document sets into specific categories or clusters to expedite the review process. A role-based security model enables sophisticated users to see all functionality, while reviewers stay productive with a simplified view. Contract Intelligence enables organizations to implement better project scoping, pricing, resource planning, and best practices for review processes.

Improve accuracy and find relevant information faster

iManage RAVN extractors pinpoint relevant data with greater accuracy in less time. Using advanced extraction capabilities, it quickly interprets the structure of large, complex documents, including clauses and sub-clauses of agreements, key definitions from contracts, and tabular information contained in financial documents.

Extracted data can be integrated into third-party contract or collateral management systems, or simply be provided as an Excel or XML output for further analysis. Contract Intelligence uses input from the use of the system to continuously improve extraction accuracy.

Enhanced user experience makes you more productive

  • Dynamic event notification keeps you informed during the process, reducing the need for training and improving user adoption across project teams.
  • Bulk tagging quickly provides structure in the review process, and work can be delegated more efficiently in project teams.
  • Preview capabilities pinpoint relevant information in a document format that looks like the original.
  • In-context review and preview of extracted terms allows reviewing teams to further validate the data in context of the original agreement, allowing them to implement projects faster and improve review accuracy.
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KEY BENEFITS

  • Increase Productivity: Optimise
    expensive human resources on
    value-creating tasks, as opposed to
    mundane document processing tasks.
  • Decrease Lead Time: Reduce the
    time it takes to analyse contract
    portfolios, and quickly identify risks
    and opportunities.
  • Improve Quality: Eliminate human
    error, extend the ability to review
    documents that would otherwise be
    excluded from manual review and
    apply quality assurance workflows,
    improving the overall service quality.
  • Reduce Cost: Streamline and
    automate document processing tasks
    to reduce costs.
  • Create structured data: Export, access,
    and utilize contract data removing task
    duplication and leveraging the value of
  • Perform Better: Democratise
    information across your organization
    and aggregate and analyze portfolios
    of documents, enabling better-informed decisions and responding
    faster to changing conditions.
  • Continuous Improvement: Retain
    learning for continuous improvement
    and build an auditable process for
    future reference.