To close any business deal, a contract detailing all the particulars of the transaction is signed. Turning around a contract more quickly means companies are conducting business more quickly. However, 41% of European companies report spending more than 4 weeks negotiating contracts, and going through at least 3 or 4 version of each contract. In this context, tools allowing users to maintain accuracy across versions, compare versions quickly and conveniently track and highlight changes can provide value to a significant number of businesses across industries.
To support companies in their contract negotiations, creating an easy and reliable system to ensure that the different regulations, like the GDRP, don’t interfere with the negotiation process, means to support business growth.
SCAI is a contract intelligent solution capable of helping all departments handling a large amount of contracts, to revise legal documentation faster and more efficiently: it allows to better understand and process legal documents, find and extract the relevant content and manage the documentation painlessly, providing lawyers, HR and procurement personnel with valuable data and insights which they can efficiently use it for their company’s best interest.
Thanks to the H2020 SME Instrument Phase 1, during the last four months we have been able to validate the technical, commercial and financial viability of our novel technology. The main objectives included the elaboration of a thorough work plan to take our innovation to TRL9, a commercial strategy and a realistic business plan.
