Adlib adds deeper contract analytics capabilities
Adlib has announced the launch of its expanded content intelligence platform with enhanced contract analytics capabilities. By empowering enterprises to access data previously locked in complex documents such as contracts, business users can now mitigate risk, find efficiencies, and address compliance more quickly and cost-effectively.
Adlib’s platform now features more advanced document classification; the ability to identify key clauses and find specific language within clauses; signature detection and strikethroughs; and point-and-click data science that enables everyday users to solve document challenges with AI.
According to Peter Duff, chief product officer, Adlib, a contract is one of the riskiest, most complex, yet valuable documents any organization has. Adlib’s capabilities allow enterprises to simplify the analysis of their contracts, delivering answers faster and more effectively, making every business event less risky and more profitable.
However, noted Jason Mitrow, senior director of product strategy at Adlib, contracts are challenging because they lack structure, and even though there are standard contract types and key elements, the language or presence of items within a document can drastically change. Third party contracts can make things even more difficult since in those situations, companies have even less control over the output, making it difficult to analyze data at scale. However, with the enhanced capabilities, Adlib is empowering customers to address these challenges with less effort and more accuracy.
“It’s time we changed the tone of the digital transformation conversation,” noted Brett Mellon, CEO, Adlib. “Enterprises know they need to be agile and digital, yet the roadblock of unstructured data remains. By finding, analyzing and creating insightful data from complex documents, enterprises can de-risk their business and reinvigorate revenue. This is why Adlib exists, to give our customers the tools they need to become the intelligent enterprises of tomorrow.”
For more information, go to www.adlibsoftware.com.