All contracting steps can be automated by AI, if only you can control and validate it start-to-finish. Weagree AI-assistant is working on it:
Seamlessly integrated in the Weagree platform accelerating:
Weagree AI assistant handles the heavy lifting automatically, all within your existing workflows. You might as well use our Word add-on for contract review described here.
Weagree AI reviews your contracts, identifying any red flags and highlighting the critical contract clauses. You then easily check all AI contract findings.
The AI review (of a first or a final draft) is also your CLM-registration. Enable strategic contract management with data that accelerates the business, well beyond basics (not stopping short of party details, renewal dates or mere due diligence data).
Weagree AI makes your CLM deliver business-strategic insights. While AI handles the countless metadata, Weagree facilitates you with the tools to easily navigate, validate and look up your business intelligence.
CLMs fail to capture the special arrangements, your tasks Kanban won’t. Weagree AI captures all (your and their) commitments from a contract and, after you validate them, automatically puts the related follow-up tasks on Weagree’s Kanbans. That’s how to stop revenue leakage.
Recurring tasks? Weagree takes care of it. Reminder notifications are automated.
Weagree tasks-Kanban and Weagree AI assistant are a perfect team to handover your contract adequately (from Sales to the operations, from Legal to Procurement). All stakeholders involved.
Want to know the nuances, but in your own language? Ask Weagree AI – translating any clause (or even the entire contract) regardless of its language.
One click for a Weagree AI assistant that speaks your native language.
Get instant clarity. Weagree AI understands your contracts, risks, rights and obligations in seconds.
Ask any contract-related question – from a supplier’s right to increase prices to the renewal terms – and get a precise answer (with AI explanation).
Simply chat with your contracts!
Whether it’s a single clause or a 50-page contract, Weagree AI summarises it: clear, concise insights, instantly.
Whether it’s for a deal memo, a quick understanding, or for an approver asked to decide: Weagree AI converts legalese in plain language.
See all data, tasks, their corresponding clauses, and all risks – in a single view. Weagree’s user experience is simple and fully transparent.
Contract review and contract management are a cinch with Weagree AI.
It’s easy to predict what’s coming soon if you see what’s already there. Weagree AI assistant. Your favourite chatbot wherever you are working in Weagree: one click to stand by your side.
Whether you’re drafting, negotiating, managing post-signature obligations or trying to understand a contract, Weagree AI assistant reduces manual effort. It makes you do your contracting work faster, more reliably, and far less time-consuming.
Even with the newest CLM solutions, legal teams struggle handling the day-to-day contract work that remains largely ‘manual’. Reviewing or registering a contract still means flipping pages and reading line-by-line. An executive (deal) summary to obtain management approval can take hours. And, as contract volumes grow, so does the workload. Yet, you are expected to move even faster.
Sounds familiar? You’re not alone. Explore how legal teams like yours are solving these challenges with Weagree here.
If you prefer the above short Weagree AI-animations in one go, watch or share this:
More accurate, faster, and applying your risk assessment criteria.
Reviewing or registering contracts, especially in complex transactions, is a demanding, even error-prone task for legal teams. Under tight deadlines, teams are often overwhelmed by the sheer volume of documents requiring careful scrutiny. This leads to inconsistent assessments, with the business to either awaiting it sceptically or avoiding the legal department altogether.
The impact of inefficient contract review processes is substantial. A response time of days translates into a large weighted average cost of capital. AI reduces the risk of human error, accelerating several parts of your contracting processes process:
AI-reviewing a first draft agreement takes only minutes with Weagree AI, enabling legal departments to eliminate wasted hours spent on tedious review and analyses of standard contracts.
After uploading a third-party drafted contract version into the Weagree Wizard, the document is automatically converted (incl. OCR) into a Weagree-reviewable document and fully automatically assesses and identifies any:
and more…
Watch it yourself! It takes a distribution agreement as an example and showcases some of the spectacular capabilities.
With Weagree, any risks in the contract received from the counterparty are automatically assessed and risk rated, applying your risk assessment criteria. The functionality is part of Weagree’s AI-driven ‘contract review’. The risk rating facilitates a quick oversight in the contractual pitfalls inherent to the received draft contract. Along with the automated contract analysis, every relevant provision is assigned a risk level, indicating the impact of the risk.
The risk levels will force a decision whether a contract clause is acceptable or not. A provision (as automatically reviewed) is either:
This risk level is visualised by using a coloured dots (green, yellow, orange or red) next to the CLM metadata field, whereas the highest risk level appears in the CLM navigation (enabling a contract portfolio analysis). If a certain contract provision was not automatically found in the contract, while risks associated to such provision were deemed critical, the contract field will be marked as a contract anomaly (marked by a red flag).
The risks are assessed on the basis of the own organisation’s contract position (e.g. customer, licensor, service provider, seller). Each type of risks can be further qualified (e.g. operational risk, financial risk, non-compliance with laws, non-compliance with GDPR, reputation risk, supply chain risks).
Once signed, the handover of a deal to the operations may seem to flow smoothly. Unfortunately, contract handover is also the point where revenue leakage roots. Revenue leakage quickly runs into large amounts (research says: 8.7% of your total revenues leaks).
Revenue leakage are those agreed commitments, especially those by your counterparty, that fall in the cracks of your CLM: if no trackable datapoint or proper follow-up is foreseen in the CLM. A few months later, these additional benefits have fallen off the radar – where Procurement or Legal hands over the transaction to the internal stakeholders; where Sales transfer their deal to the operations.
With one click, Weagree AI analyses your contract and automatically AI-extracts every follow-up task and commitment. It makes contract handover from the Sales team (or Procurement) to the operations very easy. These tasks are automatically converted into an actionable task on Weagree task Kanban – and ascertained by reminder notifications. This ensures that you never overlook a commitment anymore – stop revenue leakage.
No more copy-pasting from contracts into spreadsheets. No more handover gaps. Whether it’s a payment schedule, service delivery deadline, a rebate, kickback payments, et cetera, you can be confident it’s captured, assigned to whom must follow-up on it, and trackable.
See it in action:
Weagree AI does not stop here. We are continuously developing additional features, especially where it relates to AI. A few roadmap features that are (for us) easy to develop:
If you miss anything, or want to encourage us to speed up developing one of these features, let us know!
