Transforming Contract Management with AI and Microsoft 365
Persistent Systems is proud to announce an exciting innovation in contract management: ContractAssIst. This cutting-edge solution leverages Microsoft’s advanced technologies, specifically Microsoft 365 Copilot, to streamline workflows and foster collaboration. With ContractAssIst, businesses can expect end-to-end transparency and enhanced insights throughout the contract management lifecycle.
Addressing Challenges in Contract Management
In today's fast-paced business environment, many organizations face significant obstacles in managing a high volume of contracts across various vendors. These challenges often lead to inefficiencies and lost productivity. ContractAssIst aims to resolve these issues by providing a comprehensive, AI-driven contract management solution. By utilizing Microsoft Azure’s powerful infrastructure, this tool guarantees secure data handling while offering advanced search functionalities and compliance support.
AI Empowering Collaboration
The integration of Microsoft 365 Copilot and Microsoft Teams into ContractAssIst changes the game in contract management. Teams can collaborate in real-time, making it easier to make informed decisions backed by accurate data. The AI capabilities embedded in the platform, including natural language processing models like GPT-3.5 and GPT-4, significantly enhance contract analysis and usability. By combining these technologies, enterprises can gain unprecedented access to crucial insights and industry-specific data.
Key Features of ContractAssIst
ContractAssIst consolidates and simplifies various workflows by offering a centralized dashboard within Microsoft Teams. It incorporates an AI-powered chatbot that supports conversational queries, ensuring that users can swiftly access the information they need. Some of the standout features include:
- Real-time version tracking to monitor changes efficiently
- Instant notifications that keep all parties informed
- Contract comparison tools for quick assessments
- Approval summaries that streamline the decision-making process
Benefits Over Traditional Solutions
Unlike conventional contract management solutions that often rely on limited automation and isolated tools, ContractAssIst is built on a foundation of deep integration with Microsoft technologies. By delivering a cohesive experience, it minimizes communication overhead with a notable reduction in email interactions—up to 95%. Additionally, users experience a boost in productivity, saving an average of 20 to 25 minutes daily thanks to the streamlined processes and intuitive navigation.
The Vision Behind ContractAssIst
Sandeep Kalra, the Chief Executive Officer and Executive Director of Persistent, articulates the company’s vision succinctly: "At Persistent, our AI-led, platform-driven approach is central to solving complex enterprise challenges. ContractAssIst epitomizes our commitment to harnessing innovative technologies to reimagine manual tasks, particularly in contract management." This vision aligns with Microsoft’s goals, underlined by Sangita Singh, General Manager at Microsoft India, who emphasizes the partnership’s purpose to empower businesses to modernize operations through secure and intelligent solutions.
About Persistent Systems
Persistent Systems is a global leader in delivering Digital Engineering and Enterprise Modernization services. With a dedicated team of over 23,200 professionals operating in 19 countries, Persistent is committed to innovation. The company offers a broad spectrum of services, ranging from AI-driven software engineering to cloud solutions. Their commitment to sustainability is evident as they have achieved carbon neutrality and are actively contributing to the United Nations Global Compact, focusing on principles that promote human rights and environmental responsibility.
Frequently Asked Questions
What is ContractAssIst?
ContractAssIst is an AI-driven contract management solution by Persistent Systems, designed to enhance efficiency and collaboration using Microsoft technologies.
How does ContractAssIst improve productivity?
The solution reduces email communications by up to 95% and saves users 20-25 minutes daily through streamlined processes.
What technologies power ContractAssIst?
ContractAssIst leverages Microsoft 365 Copilot, Microsoft Teams, and Azure AI to provide advanced contract management capabilities.
Who developed ContractAssIst?
ContractAssIst was developed by Persistent Systems in collaboration with Microsoft, combining innovative approaches from both companies.
What is the mission of Persistent Systems?
Persistent Systems aims to deliver digital engineering excellence and enterprise modernization while committing to sustainability and client success.
