Agiloft, the leading provider of contract lifecycle management systems, was named a winner in the 2021 Business Intelligence Group (BIG) Innovation Awards for their AI Core. These awards recognise businesses and people bringing innovative ideas to life that change the way we experience the world.
"2020 was a year of major developments in our AI Core, and we are very pleased to gain recognition with this Innovation Award," said Agiloft CTO, Colin Earl.
"With the increasing demand for contract lifecycle management software and the speed in which digital transformation is moving, Agiloft is the solution for businesses looking to transform contract processes with an AI-enabled CLM system that easily adapts to an ever-changing business climate. We are committed to accelerating development of our platform to further empower our customers."
Agiloft’s AI Core enables customers to collate and digitise thousands of contracts and helps address issues such as risk management, compliance and efficiency. By leveraging AI-enabled contract review, customers have reduced review time by up to 95% and increased accuracy by 8.2%. As well, customers report a 20% savings in procurement from contractual efficiencies.
The robust AI Core makes the import and management of contracts simple at it extracts metadata, scores contracts and clauses based on risk, and prioritises the most urgent ones.
Agiloft's unmatched configurability also enables the creation of entirely custom AI tools, as well as integration with existing AI and machine learning models, so that organisations can customise complex contract and commerce workflows without writing a single line of code.
COO of the BIG, Maria Jimenez, said she was excited to be presenting Agiloft with an Innovation Award.
"More than ever, the global society relies on innovation to help progress humanity and make our lives more productive, healthy, and comfortable. We are thrilled to be honouring Agiloft as they are one of the organisations leading this charge and helping humanity progress."