New year, a new beginning, and a new announcement - Aavenir Contractflow has been enhanced further with a well-thought-out list of features to help organizations streamline their workflow, improve efficiency and visibility across the process and overall make the experience for the users enjoyable, easy and exciting. Enterprises like Johns Hopkins University, Reece Group Australia, State of Utah, Express Employment Professionals, and others use Aavenir Contractflow to increase visibility into their contract process and speed up cycle times. Contractflow is built with proprietary advanced AI and NLP-based technology that can re-train itself on new contract data. With the new features, Aavenir’s existing customers can scale their contract management process to the next level and meet the growth and increasingly complex contracting needs of their organizations.
Contractflow Enhancements That Will Expand User Adoption
What’s New in Contractflow 3.0 v/s Other Contract Management Solutions?
Read More: Aavenir Unveils Contractflow Enhancements
Advanced AI Metadata Extraction
Since its inception, Contractflow harnessed the power of artificial intelligence (AI) to bring contracts to life by extracting and obtaining actionable data from contracts including 3rd party paper contracts, legacy contracts, etc.
In the latest release, the extraction capabilities of AI have been advanced with state-of-the-art deep learning technologies. Aavenir AI engine understands and interprets contracts the way humans do. Existing users and new users can analyze a variety of contract metadata (terms, clauses, SLAs, obligations, and more). Our intelligent and highly accurate AI engine automatically identifies deviations from approved clause libraries and effortlessly defines workflows for the next steps.
Next-level Contract Adoption Analytics
Contractflow visual dashboards now also offer Contractflow product adoption and usage metrics that enable administrators to analyze workload bottlenecks, maximize adoption, and gain insights into contracting strategies.
Contract Admins can view and analyze the following reports:
- Contracts by Month (displays the number of contracts created month-wise)
- Contracts by User (displays the number of contracts created by different users)
- Clause Category (displays break up of Clause Category across all contracts in the system)
- Contract Models (displays break up of Contract Type/Models existing in the system)
- Contracts by 3PP (displays number of third-party paper contracts created in the system)
Enhanced Contract Repository View
The new and enhanced repository view makes contract documents easily and effortlessly searchable. Contract repository helps compliance with audit and governance requirements and gives your contract managers direct and easy access to the contracts they need to manage. If you want to mine insights from your contracts, AI-enabled analytics help you curate the data and make informed decisions based on the same to mitigate any contract management risks before they occur.
Enhanced repository view in Aavenir Contractflow offers more options for advanced search of clause and meta-data across contracts. Repository’s intuitive browse view helps users easily navigate through contracts, attachments, and related contracts in a folder structure.
Tighter Controls and Governance
Contract approvals are critical bottlenecks in the contract lifecycle. To improve the contract approval experience, Contractflow provides an improved way for approvers to approve contracts with tighter auditability and controls through enhanced audit trails and more flexible workflow with dynamic approver selection.
In addition, contract governance has been enhanced with a centralized tracking of all contract-related email conversations, both incoming and outgoing.
Modern and Intuitive UX Experience
Aavenir Contractflow 3.0 comes with many user experience and interface enhancements that will help expand user adoption with an easy, intuitive user interface.
- The Live View panel has undergone several enhancements to improve the user experience. For example, users can now control the visibility of the Live View panel.
- Selecting a template is no longer mandatory while configuring notifications for sending contracts to stakeholders. Users can specify desired subject and body without a template.
- Visibility of contract audit trails that depicts a pictorial representation of contract status change
Experience the Difference - Find Hidden Contract Insights with Aavenir Contractflow
The latest release differentiates itself in the marketplace with the product’s augmented depth of functionality to expand user adoption rates and enhance the user experience. It’s time to leverage Contractflow 3.0 for a comprehensive, visually-appealing, improved understanding of critical contract data.
Contracts are not just an administrative tool, but a strategic tool for any organization. Whether you are in the quest to automate contract creation to review cycle or need insightful dashboards and reports for automated contract management, AI-enabled Aavenir Contractflow can streamline your enterprise-wide contracting process using digital workflows and AI.
In addition, Aavenir CLM connects the contract process to the entire source-to-pay cycle, including RFP management, invoice management, spend analysis, and contract obligation compliance management. Empowered with information, you can treat contracts as your assets that provide deep insights and offer competitive advantages.