Using Artificial intelligence, Contractpodai offers contract lifecycle management platforms that enable businesses to manage all their contracts, regardless of how large or small. The platform combines AI with human expertise to create a seamless experience for business users. It helps them create better contracts, faster. In its first quarter, Contractpodai recorded a record-setting sales quarter. It secured an investment from SoftBank Vision Fund 2 and closed a funding round.
Artificial intelligence-fueled contract lifecycle management platform
Using artificial intelligence-fueled contract lifecycle management tools will help companies optimize contract management processes and improve contract oversight. By leveraging new and existing data, intelligent systems minimize risks and maximize cash flow.
Artificial intelligence-fueled contract lifecycle management software can identify and mitigate risks, streamline workflows, and identify proactive opportunities. The software combines data mining, artificial intelligence, and machine learning to optimize contract review, negotiate, and execute contracts. These tools also provide powerful new insights and on-demand data extraction.
Contract lifecycle management technology is gaining widespread adoption. The AI-powered tools ensure compliance with all terms, avoid unnecessary renewals, and optimize RFX administration. These tools also provide real-time response to regulatory changes. By enabling a better understanding of contract requirements, contract professionals can strategize better and negotiate the best possible terms.
In addition to using AI-powered tools, contract managers should monitor key performance indicators. This includes identifying the time it takes employees to complete tasks. If tasks are taking too long to complete, the contract administrator should reassign roles or escalate tasks.
Icertis closed a funding round
Taking the name of contract lifecycle management (CLM) to the cloud, Icertis helps legal teams optimize commercial relationships and increase contract velocity. Its technology automates legal paperwork and payments, reduces risk, and increases commercial compliance. Its cloud-based platform manages 5.7 million contracts in over 40 languages. A handful of Global 2000 companies including Microsoft and ABB have relied on Icertis’ platform to manage their agreements.
The company has raised $211 million from investors to date. In January, Icertis announced an undisclosed funding round from SAP. It also raised an impressive $150 million from Silicon Valley Bank. And it reportedly has 12 offices around the globe.
The company’s top-of-the-line AI-driven contract lifecycle management platform includes a few other high-end features. For instance, the company’s Visualize AI feature automatically groups similar contracts based on their completion status. The company also claims to have executed over 10 million contracts. The company has won numerous awards for its products and services. It also boasts a stellar customer list. It has completed several global enterprise-wide rollouts for Fortune 500 clients.
SoftBank Vision Fund 2 investment
Earlier this week, SoftBank Vision Fund 2 invested $300 million in LTK, the world’s largest influencer marketing platform. The investment will boost LTK’s valuation to US$2 billion. The company says it is uniquely positioned to disrupt marketing by enabling data-backed, agile marketing.
SoftBank is one of the world’s largest investors of startup companies. The company’s two funds, which are made up of the SoftBank Vision Fund and the SoftBank Vision Fund II, invest in private companies that are valued at $1 billion or more. The funds invest in early-stage companies and late-stage technology startups. The investment in LTK comes less than a year after SoftBank invested $220 million in Agile Robots.