We’re excited to share the latest enhancements to Aavenir Contractflow, loaded with innovative features, streamlined workflows, and a more intuitive user experience to make contract management faster, smarter, and more adaptable. Built to empower contract managers, reviewers, and collaborators, Aavenir Contractflow on ServiceNow simplifies every phase of the contract lifecycle, from creation and AI extraction to review and beyond. Here’s everything you need to know about the latest updates:
1. Flexible, AI-Powered Contract Creation and Extraction
What’s New
With Aavenir Contractflow, we’ve reimagined the contract creation process, providing new AI-powered workflows that adapt to your unique needs. Now, contract managers can upload externally generated documents and choose to extract essential information—like terms and clauses—either immediately or later.
Key Benefits
- Greater Flexibility: Select when to initiate AI extraction based on your workflow.
- Seamless Automation: AI automatically populates key contract fields, streamlining data entry.
- Increased Accuracy: Review, edit, and finalize extracted terms and clauses for perfect control over your data.
- Optimized Contract Extraction Process with Avy: The enhanced extraction workflow now goes beyond the pre-signature stages. Integrated with Avy, Aavenir’s AI assistant, it empowers obligation owners to extract key post-signature terms such as SLA targets, penalties, and deadlines on demand, ensuring a more proactive approach to contract management.
Example: Imagine you’ve just received a new contract from a third-party vendor. Instead of sifting through terms and manually entering details, simply upload the contract, trigger extraction at your convenience, and let the AI populate key fields in the background. You’ll get notified when it’s ready for your review and edits!
2. Enhanced Collaboration Options: Now with SharePoint Integration
What’s New
To make collaboration even easier, Aavenir Contractflow introduces SharePoint support alongside OneDrive for contract reviews. This added flexibility lets teams choose their preferred document-sharing and review platform.
Key Benefits
- Expanded Integration Options: Use either SharePoint or OneDrive, based on your team’s needs.
- Seamless Collaboration: Work on contracts with your team and external partners without disrupting workflows.
- Smooth User Experience: The functional flow remains the same across platforms, ensuring consistency.
Example: Your organization uses SharePoint for document management, but contract reviews typically happen in OneDrive. With Aavenir Contractflow, you can review contracts using SharePoint without compromising existing workflows, providing a smoother experience for your team.
3. Advanced O365 Word Add-In for Streamlined Contract Reviews
What’s New
The updated O365 Word Add-in in Aavenir Contractflow offers a more streamlined and secure review process, enhanced with new AI capabilities. Each reviewer can officially conclude their review with a single click, triggering notifications and revoking access once reviews are complete.
Key Benefits
- Faster Reviews: Automated notifications remove the need for manual follow-ups.
- Improved Control: The system automatically revokes access after review, ensuring security.
- Enhanced Clarity: Generative AI (Avy AI) simplifies complex legal language and answers questions on the contract.
Example: Reviewers can easily “end review” on a contract, and once all parties have reviewed, notifications are sent automatically. Avy AI can simplify any difficult clause with just a click, making legal terms easy to understand for every stakeholder involved.
4. On-Demand Extraction of Scanned Contracts
What’s New
Aavenir Contractflow now supports AI-driven extraction from scanned PDFs, making digitizing and managing physical contracts simple. This feature is especially valuable for organizations dealing with scanned documents or contracts that need to be tracked within the system.
Key Benefits
- Digitize Physical Contracts: Easily turn scanned documents into digital records.
- Automatic Data Entry: AI extracts and populates fields with essential information.
- Adaptable Workflow: Extract information on-demand as you need it.
Example: You’ve received a signed hard-copy contract. Upload the scanned PDF into Aavenir Contractflow, trigger the extraction, and let AI populate the relevant fields, turning your physical contract into a manageable digital record with minimal effort.
5. New Role and Enhanced Workflows for Better User Management
What’s New
Introducing the ‘Contract Reviewer’ role to simplify internal reviews. Users assigned this role gain access to their designated contract documents, ensuring that the right people are handling the review process.
Key Benefits
- Role-Based Access: Assign specific review responsibilities to designated team members.
- Streamlined Workflows: Directly access assigned contracts for faster, more focused reviews.
- Increased Transparency: Reviewers can view contract statuses, ensuring complete visibility.
- Real-Time Obligation Tracking for Improved Governance: Avy’s integration ensures that real-time post-signature contract performance is monitored. This provides greater visibility into SLA compliance and contractual obligations and helps reduce value erosion throughout the contract lifecycle.
Example: With the new role, team members designated as ‘Contract Reviewers’ can access contracts in their queue without extra permissions, keeping the review process streamlined and securely managed.
6. Simplified and Intuitive UI for a Smoother Experience
What’s New
The update includes multiple UI enhancements to make navigation more intuitive and user-friendly. From streamlined extraction workflows to added visibility icons and a redesigned deviation summary, this release prioritizes clarity and ease of use.
Key Benefits
- Improved Navigation: Easily access documents, statuses, and actions from one screen.
- Clarity in Information: Enhanced pop-ups and display icons provide clear insights.
- Efficient Document Management: Quickly view, review, and manage attachments and extracted data.
Example: While viewing a contract, a user can instantly see extraction status and request details through new, easy-to-access icons, making data tracking simpler and saving time on every contract.
7. Streamlined Termination and Deviation Management Workflows
What’s New
Contract termination is now more flexible in Aavenir Contractflow, allowing users to upload their termination documents or choose from templates. Additionally, deviations are now calculated with new configuration options, providing greater control over how changes are tracked.
Key Benefits
- Flexible Termination Options: Select a template or upload a termination document from the repository for contract termination.
- Customizable Deviations: Tailor deviation calculations based on preferences for version control.
- Enhanced Audit Trail: New logs and configurations ensure tracking accuracy and document control.
Example: Users can select a relevant termination document format if a contract needs to be terminated. Contract managers can also adjust deviation settings to measure changes against specific clause versions, adding clarity and precision to the termination process.
What’s Next for You with Aavenir Contractflow
Aavenir Contractflow, super-charged with new advancements is designed to meet the evolving demands of today’s contract management landscape. With enhanced AI capabilities, seamless integrations, and a more intuitive user experience, this release empowers teams to manage contracts faster, more collaboratively, and with increased accuracy.
Ready to explore/ upgrade and transcend your contract management process to the next level? Schedule a Demo & see Aavenir Contractflow in action.
