Contract Understanding is a game-changing AI-powered Software-as-a-Service (SaaS) solution designed for organizations across diverse industries.

Contract Understanding is a game-changing AI-powered Software-as-a-Service (SaaS) solution designed for organizations across diverse industries. It empowers these organizations to securely, and efficiently, handle contracts once they’re signed. With Contract Understanding, businesses gain full control over their contract benefits, obligations, and renewal processes. The platform leverages cutting-edge AI technology to analyze and extract vital data from each contract, providing comprehensive visibility into an organization’s entire contract portfolio. Our subscription-based model is flexible, accommodating both beginners and advanced users, enabling them to seamlessly navigate contracts post-signature in a way that best suits their unique business needs.

Contract Understanding began as a response to the challenges and hurdles faced by us: entrepreneurs operating medium-sized businesses. These challenges included the cumbersome management of contracts after they were signed. We personally experienced the frustration of losing track of physical paperwork, missing critical renewal deadlines, unintentionally allowing contracts to auto-renew, overlooking benefits like incentives and discounts specified in contracts, and even facing penalties for contract non-compliance. Considering these experiences, we founded Contract Understanding with the mission of assisting other businesses in optimizing their contract management processes. Our goal is to help them avoid these potentially costly pitfalls and streamline their contract management practices effectively.

Several global players focus on different aspects of contract management, including document creation, e-signatures, document storage, data extraction, and more. However, based on our understanding, none of these companies provides a holistic, subscription-based solution designed specifically for medium-sized organizations to effectively manage contracts after they’ve been signed.

What sets Contract Understanding apart is its unique approach. It distinguishes itself from competitors by offering a comprehensive post-signature contract management solution that is:

• Subscription-Based: Our model is designed to be accessible and cost-effective, ensuring that efficient contract management is within reach for a broader range of organizations.
• Tailored for Medium-Sized Entities: We understand the specific needs and challenges that mid-sized businesses face when it comes to contract management. Our solution is finely tuned to address these needs.

Contract Understanding employs advanced optical character recognition (OCR) technology to efficiently extract and repurpose text from your scanned or emailed PDF documents. After your contract is uploaded, our AI algorithms and machine-learning capabilities swing into action. They meticulously extract essential data from the text and furnish you with a comprehensive overview of your agreements. This empowering feature allows you to configure tailor-made automated workflows, aligning perfectly with your unique requirements and significantly enhancing your contract management capabilities.

Contract Understanding hosts contract information securely on the Microsoft Azure cloud, with SSL standard certification for protection. To add an additional layer of security, two-factor authentication is used for user logins. In addition, users can utilize permission-based access to limit access to confidential contracts to certain designated users.