Aavenir Contractflow, an AI-enabled contract lifecycle management solution, enables enterprises to standardize and automate contract creation and the end-to-end contract lifecycle across Procurement, IT, Finance, Sales, Legal, HR, and other functions.
Built natively on ServiceNow, the Aavenir Contractflow solution empowers requestors, contract managers, administrators, reviewers, and obligation compliance managers with an intuitive, easy-to-use contract authoring and management solution.
Built For
- Legal
- Procurement
- Sales
- Finance
- IT
- HR
Aavenir Contractflow elevates ROI and accelerates time to value by delivering a seamless, Connected Contract Management Experience across procurement and revenue operations processes with pre-built workflows and packaged integrations.
Legal teams can ensure the standardization of clause libraries and pre-approved templates and achieve drastic efficiency gains through AI-driven extractions, clause simplification, clause deviations, and recommendations; procurement and sales teams can reduce negotiation bottlenecks and collaborate efficiently with vendors, partners, and customers.
The solution also provides third-party paper ingestion using advanced AI technology and insights into contracts and performance obligations using easy-to-configure dashboards.
Aavenir Contractflow offers a flexible configuration of the entire lifecycle, including contract request, authoring, negotiation, approval, renewal, amendment, execution with electronic signatures, and post-award obligation management. It helps achieve ROI faster with accelerated time-to-value and enhanced user adoption.
Aavenir Contractflow, harnessing the power of Generative AI, provides comprehensive insights into contractual deviations, facilitating risk mitigation and ensuring contract compliance. Furthermore, Aavenir introduces Avy AI, a Generative AI Assistant tool that can comprehend the contracts, simplify the clause language, make legal documents easy to understand for legal and non-legal teams, and also allow the creation of dynamic and safer contract clauses based on intent, thereby reducing deviation discrepancies and associated clause and contract risk.
Why use Aavenir Contractflow on ServiceNow?
- Empowers teams to drive efficiency and accelerate contract cycle times
- Mitigates pre-award and post-award risk and ensures legal and regulatory compliance
- Ensures standardization of clause libraries and legal language and delivers contract authoring accuracy
- Provides end-to-end visibility into terms, milestones, and obligations and drives performance across vendors, partners, and internal teams
- Enhances collaboration by facilitating seamless connectivity between workflows and enabling real-time access, empowering teams to collaborate with increased efficiency and productivity
- Delivers business agility and enables teams to react to market conditions and scale to higher growth levels with a connected contract management experience
- Provides AI-driven acceleration in terms of productivity, reducing ambiguity and accessibility, and also empowering individuals to make informed decisions.
More Information: https://aavenir.com/solutions/ai-contract-automation-software-ai-contract-review/
Built on the industry-leading ServiceNow platform, Aavenir Contractflow (Contract Lifecycle Management) is available as a unique SaaS solution.
- Powerful Contract Configurator: Quickly author any type of contract by leveraging contract templates.
- Legal and Regulatory Playbooks: Drag and drop pre-built contract templates with multi-lingual support. Playbooks for primary, alternate, and fallback clauses to standardize and accelerate the contract-creation process
- AI-enabled Contract Data Extraction: Automate the extraction of Terms and Clauses from Contract Documents with a high percentage of accuracy along with support for on-demand extraction.
- Empowering with Generative AI Capabilities: Proprietary AI Assistant tool to aid users in simplifying complex clauses into easy-to-understand language for easier interpretation by non-legal personnel. The users can also ask contract-related questions, and AI generates appropriate responses with a high degree of accuracy.
- Clause Deviation with AI: Auto-detect contract clause variations against legal-approved clause libraries or previous versions during the review or negotiation stage. Additionally, capability to generate an alternate clause with best fit options.
- Customizable Contract Processing Workflows: Share and execute a contract on the ServiceNow workflow platform with ad hoc approval or define rules-driven conditional approvals that support adding comments, annotations to files, and alerts.
- LiveView Experience and Comparing Information: Expandable or collapsible ‘LiveView’ interface to improve user experience. Dynamic comparison of contract information during Contract Amendment and Renewal.
- Downloadable Contract Summary: Generate contract summary to view important data points of a contract in a concise format.
- Approvals & eSignatures: Dynamic approval workflows and tracking. Pre-integrated with DocuSign and Adobe Sign to manage e-signatures directly from the application.
- Contract Renewals and Termination: Proactively monitor contract expiration and automate contract renewals. Manage contract termination lifecycle with contract termination templates or documents with a clear and consistent step-by-step process.
- Role-based Dashboards & Adoption Metrics: An elevated experience for the end users with the control to prepare and add reports to the Dashboard.
- Contract Audit and Compliance: Meet increasing regulatory compliance requirements by the ready-to-audit contracting process, showing “who-what-when” for every contract action.
- Microsoft Office Integration: Collaboratively negotiate (redline), review contracts, and track changes in real-time using Office 365 integration.