Legal and procurement teams spend time reading master services agreements, extracting clauses, dates, and parties, and rekeying data into CLM and ERP systems. Long documents, varied layouts, scanned annexures, and handwritten notes make manual reviews slow and error prone, increasing cost and compliance risk.
AI assisted extraction and summarization structures clauses, tables, and metadata, highlights obligations and risks, and routes only low confidence outputs for quick review. Teams shorten cycle time, improve accuracy against SLA targets, and enable safer decisions without changing upstream formats.
This total cost of ownership calculator helps you evaluate the true ROI of the category using modern AI powered alternatives over traditional OCR based solutions.
Key Use Cases:
Clause Extraction
Uses NLP to capture key clauses such as indemnity, liability, termination, confidentiality, and payment terms for faster review and compliance checks.
Obligation Tracking
Extracts deliverables, service commitments, response times, and performance metrics for monitoring in task or compliance systems.
Key Dates and Alerts
Identifies start, renewal, termination, and milestone dates and triggers proactive alerts.
Contract Classification
Classifies MSAs by type, business unit, or jurisdiction to speed routing, storage, and reporting.
Party and Signatory Extraction
Pulls party names, addresses, and authorized signatories and verifies presence and completeness.
Risk Clause Detection
Flags clauses with potential business or legal risk by comparing against standards or templates.
Change and Version Control
Compares versions and amendments to highlight modified clauses and maintain audit history.
Regulatory and Policy Compliance
Checks extracted terms against regulations such as GDPR or HIPAA and internal policy guidelines.
Multi Language and Multi Currency Processing
Translates and normalizes multilingual MSAs and monetary values for consistent analysis.
Contract Summarization
Generates concise overviews of obligations, risks, and benefits for faster stakeholder review.
Renewal and Expiry Tracking
Detects expiry and auto renewal terms and sends alerts for timely action.
Contract to PO Alignment
Matches purchase order terms, pricing, and scope against MSA clauses for compliance before approval.
Bulk and Multi Format Processing
Handles large volumes and varied formats including low quality scans or handwritten amendments.
Metadata and Searchability
Generates tags such as contract type, parties, industries, and terms for easy search and retrieval.
Termination and Dispute Resolution Extraction
Extracts termination rights, notice periods, arbitration, and mediation terms.
Payment Terms and Rates Extraction
Captures payment schedules, service rates, escalation clauses, and late payment penalties.
Document Linking
Connects MSAs with addenda, schedules, and amendments for full history tracking.
Start by selecting a typical scenario or adjust the baseline details to reflect your exact needs. The calculator will update automatically.
If your organization relies on legacy OCR for contract data capture, accuracy typically caps at about 80%. OCR struggles with handwritten contracts, poor scans, and complex tables, forcing analysts to manually recheck and re-enter data. This results in higher costs and slower processing cycles.
Modern AI that combines OCR with natural language processing and vision models lifts accuracy to approximately 92% accuracy ±2% and generalizes better across layouts. However generic AI cannot pinpoint which fields are wrong with certainty, so teams still verify low confidence outputs and critical fields to protect legal and financial controls.
Your AI investment isn’t delivering expected savings. This may indicate inefficiencies or incorrect assumptions in your current workflow.
Contact us to identify more optimization opportunities.
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