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Feb 10, 2025, 08:39 ET
Innovative platform and white box AI capabilities affirm Agiloft as a leader in data-first contract lifecycle management
REDWOOD CITY, Calif., Feb. 10, 2025 /PRNewswire/ — Agiloft, the leader in data-first contract lifecycle management (CLM), has expanded its product suite with new generative AI capabilities to enable legal teams to unlock the value of contract data and accelerate their businesses. Through its AI offerings – GenAI Prompt Lab, ConvoAI Document Q&A, and Screens – these capabilities tailor AI-driven workflows to the exact needs of legal and contracting teams, empowering organizations to deploy AI in a way that precisely meets their needs.
At the core of Agiloft’s new generative AI features is the unique offering to leverage white box AI, providing complete transparency into the decision-making process and allowing users to understand and trust the AI model’s reasoning behind every outcome. Within ConvoAI Document Q&A, legal professionals can ask specific questions about a contract and receive AI-driven responses that are directly tied to the source of the information within the document. With this white box AI functionality, users can confidently trust AI responses by instantly jumping to the highlighted content within the contract that supports the answer. This capability eliminates the guesswork from AI-driven insights, providing legal teams with the precision they need to make informed decisions.
“AI is most powerful when it adapts to how you work,” said Andy Wishart, Chief Product Officer at Agiloft. “With ‘AI Your Way,’ legal teams can fully customize prompts within their clause libraries to match their unique needs, leverage white box AI for complete transparency in contract review, and tap into GenAI Prompt Lab to streamline clause management. These innovative features give legal and contracting teams the freedom to take full control, save valuable time, and focus on the high-impact work that drives real business value.”
In addition, Agiloft has released new out-of-the-box prompts within GenAI Prompt Lab, a series of new, user configurable generative AI templates designed to optimize clauses in clause libraries. The prompts can evaluate hundreds of extracted clauses in a single operation to suggest standard and fallback clauses – allowing legal teams to leverage AI to quickly create, evaluate, and track clauses across the contract lifecycle. These powerful prompts allow teams to:
- Create standard clauses from previously used language: Analyze all the clauses across a repository to create a new, standard clause.
- Create a fallback clause from previously used clauses: Analyze all the clauses across a repository to create a new fallback clause.
- Identify deviations from standard clauses: Find any documents across a repository that deviate from the standard language that has been implemented.
- Mismatch detection: Identify and review mismatches between data in a contract document and metadata entered in corresponding contract fields.
- Identify red flags: Detect potential risks based on an organization’s defined criteria, flagging issues and prompting actionable next steps such as escalation, assigning a risk score, or other customized actions.
“Rush uses a self-configured Generative AI Prompt action to automatically and instantly assess contracts as they are submitted to direct them to the right review group, with the capability to manually reassign them as needed,” said Dustin Slodov, AVP of Procurement and Systems at Rush University. “Employees have used the clearer availability of existing contracts to reduce the total number of net new purchase orders by 20%. Internal buyers and their vendors are thrilled to receive an authorized purchase order as contracts are approved and signed, further reducing the wait time that used to be a barrier to entering the review process.”
Agiloft’s “AI Your Way” initiative allows customers to tailor AI-powered workflows to fit their specific needs. Now, with the addition of white box AI capabilities and the ability to streamline clause management within GenAI Prompt Lab – enhanced by AI capabilities from Agiloft’s recent acquisition of Screens, which introduces intelligent contract review and standardization – Agiloft’s AI functionalities empower legal teams to streamline operations, automate manual tasks, and leverage intelligent data-rich insights from contracts at scale.
To learn more about how Agiloft is redefining contract management with generative AI, visit agiloft.com.
About Agiloft
As the most trusted global leader in data-first contract lifecycle management (CLM) software, Agiloft connects contractual commitments to real business outcomes using its flexible Data-first Agreement Platform (DAP). With contract data as the foundation, customers quickly and collaboratively reach agreement and leverage contract visibility to thrive with competitive advantage. Employing powerful, pragmatic artificial intelligence as a legal force multiplier, and robust integration capabilities as a data liberator, organizations around the world trust Agiloft’s certified implementers to deliver connected, intelligent, and autonomous solutions across the entire contract lifecycle. With a 99.6% implementation success rate, it’s clear why some of the largest companies choose Agiloft to unlock the value of contract data and accelerate business. Learn more at www.agiloft.com.
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SOURCE Agiloft