Name: CLM Platform Tour - Better Contracts Faster with AI
Uploaded: 2025-08-07T14:17:51.133Z
Duration: 32 min 36 s
Description: CLM Platform Tour - Better Contracts Faster with AI

Transcript for "CLM Platform Tour - Better Contracts Faster with AI": Okay. Let's So this first. Let's give people maybe a few seconds to join, and then we get going in, like, twenty seconds. K. Okay. Let's start. So welcome everyone to this month's, CLM platform tour. I'm glad you could make it today. Before I'm handing it over to our fabulous solutions consultant, Isabella, just a few housekeeping rules. So for the best viewing experience, we do recommend you close all the applications that you might have running in the background and close your browser browser tabs as well. We do recommend Chrome as a browser. For the best sound quality, please use headphones. If you have any questions at all, please type them in the q and a, and Isabelle will answer your questions at the end of the session. If you're having any technical issues, feel free to reach out to me in the chat. And last but not least, you will receive a follow-up email from Goldcast twenty four hours after the webinar finishes with the recording. So feel free to also share that recording with your colleagues. And, yeah, over to you, Isabella. Okay. Great. Thank you, Andrea. So hello, everyone. Welcome to the Azure MLM platform tour. My name is Isabella Lowe. I am a solutions consultant here at Agiloft, and I'll be taking you through that demo today. I've been working with CLM solutions for over nine years now, so I am very excited today to be showing you what the Agiloft platform can do, for your organization and your future ideal state. Agiloft is a contract platform that acts as a single source of truth. We've designed this platform around data with a data centric approach, how to capture it, how to what to do with that data, and also how we can manage that data to create actionable insights for you. We put a very strong emphasis on turning words and sentences that you see on a contract into structured actual data. And for us, why does data matter so much? So oftentimes today, we are seeing, we're working with companies that we're seeing a lot of their current state is outlined on the left right here. So a lot of their different departments, such as IT, HR, legal, they're working, on the similar processes but in different platforms. And what this means is that they're tracking data on different platforms. There might be duplicate data or data that is not being transferred from each platform in the right way. And this is leading to a lack of analytics or insights for these teams and creating an environment that is not scalable, with a lack of insight for the entire organization as well. What Agiloft wants to help organizations transition to is a state that you see right here on the right hand side. Being able to work on a uniform data platform, for all the different functions, encouraging cross departmental, collaboration, reducing any manual or duplicate data entries into different platforms because everything is in one repository now, And then just also just, ensuring that the solution is scalable and agile to adapt to your organization as it grows. Now Agiloft is designed to provide a foundational layer for your entire contract life cycle. So starting upstream when you first start working with your counterparty, how do we first capture that data into a contract request? Either creating the contract or importing it into Azure and then flowing that information down to the consequence, to the next steps, such as reviewing, authoring contracts, any negotiations, and then post execution steps with, as well, such as managing obligations, renewals, and terminations. For today's demo, we'll be mostly focusing on the first four steps that you see right here, being able to create, a contract. So in this case today, we'll be importing a contract that is coming from a third party. And then how can Agiloft utilize our AI functionality to help your team with being able to more efficiently review these third party contracts, flagging any nonstandard terms, and then, prioritizing which ones are high risk, down to anything that is maybe nonmaterial for, your legal team. And then we'll talk about some of the approvals, that we can do with our approvals engine as well. Alright. So these are the steps we'll be focusing on today. Any questions that you have, feel free to add that to the q and a section or the chat section here, in the, UI. And I'll just go ahead into the, demo now. So right now, I have logged in to the Agiloft platform. Just wanna make sure that I'm sharing the appropriate screen. One second. Alright. There we go. So right now, I just logged in to the Agiloft platform. Right here, I'm just gonna take the next five minutes or so and just walk through what the user interfaces looks like, how users are going to interact with the system, and what their experience looks like. The reason why I wanna do this is just because for anyone on the call who has never seen Agiloft before, I just want to familiarize the group with, what the system looks like. So right now, I've logged in to Agiloft. Each user that logs in has their own unique login credentials. So I'm logged in as Isabella. And the reason why this is important is because every user that logs in, they have their own specific permissions and, access to the system. So just because you have all of your contracts stored in the Agile repository, it doesn't mean that everyone in your organization will have the same access to the data or to execute different actions. We wanna make sure that permissions are set so that certain departments can only see certain contracts, and then certain contracts are made confidential. So only certain managers or certain, executives are able to view that information. So we can get pretty granular with these permissions, and all of that can be set up, within Agiloft. Agiloft is a completely no code platform. So what that means is once Agiloft is implemented, if there are any changes that you need to be made, there is no issue. You don't have to come back to Agiloft or utilize a third party, agent agency or firm. You can do that yourself and manage any of the changes you want within AgileSoft. Now this home screen right here, it is completely tailored to the user that's logging in. This is just to make sure that, what they see when they first log in is relevant to that user. So across the top right here, we have what we call a navigation bar. So this navigation bar provides different, easy access to different tables that we have in the Agiloft platform, such as the contracts table or the company's table that you may need, you may you may need access to, frequently. So, for example, if I drill into the contract table, I'll be able to see, that I can easily access, this new contracts button. So I can more so I can start a new contract directly from this home screen pretty easily. I also have access to any recent contracts that I've been working on, and I also have access to a list of saved searches that I have. So this is a list of pre filtered searches, that I may need often, and then I can easily access that directly from the contracts table. In addition to that, we also utilize all of the data that is being tracked within Agiloft, and you can create different dashboards and reports and default it on a user's home screen. So for example, we have one here, contracts that I have in progress, and it's broken down by the status of each of these contracts. So if, for example, I can also act, interact with this report in real time as well. So if I don't want to see any of the contracts that are currently in draft or with the counterparty, I can just take that off of as a filter, and it will automatically update the report for me. I also have the same thing for this report here, upcoming contract expirations. It's broken down by the month of expiration, and then we aggregated the, amount, the dollar value of those contracts that are expiring in that month. So these reports are designed to show you that, you can utilize any of the data that you're tracking within Agiloft, create custom reports, add any filters, and group, the data together, the way that you need to show, your end users, in a way that makes sense for them. And then finally down here, I also have a list of my assigned contracts. So for an end user, think of this as a to do list or a queue of tasks or contracts that have been assigned to you and are important. You can filter or group it by priority. You can see what the due dates are. So it is an easy to view to do list for a user when they log in. And as a contract manager, I can also view the, workload of each of the people on my team so that I am able to show them or so I can determine, you know, workload and how to assign and the different priorities that we have for the contract request. And then finally, at the very top, because once again, we keep mentioning the concept of data, being able to track all this data within the system. So what can we do with that data? We make it easy for your end users to also search for any data that they're looking for. So, for example, up here, at the very top, we have a global search bar. So this global search bar allows you to search for any word or any phrase that you are interested in, seeing results for. And it's not only going to search, for the actual, data that are in the data field in a record. It's also going to look in the documents and the context and the the content of each document, because every document that is created within Agiloft or imported into Agiloft is automatically OCR'd. So, we are able to search for the actual text, in each of these documents as well. I searched for the term Blue Turtle. That is one of the customers or counterparties that we work with, within this, demo environment. And once I search for that supplier, it's returned some results for me. For example, under the people's table, it's returned two contacts that I have associated with our company, Blue Turtle. It's also given me a list of tasks that are assigned to this company as well, and I can see a list of every contract that I currently have with this company as well. K? So from here, I can see consolidated list view of all the contracts I currently have with Blue Turtle. I can drill into that list and filter my list further. So on the right hand side, if I wanna further filter it out by any word or phrase, I can do that here. I can also filter it out by predefined fields such as status. Let's say I only want to see contracts I have with Blue Turtle that are active. I can do that here. And then, I can also apply any additional filters as well. Alright. So once again, this home screen is utilized as a way to tailor the experience for your end user, making sure that when they log in, they have the most relevant information, and they are only able to execute the actions that they've been given permissions to do. Now let's get into now that we've seen a little bit of the UI and, a a little bit more familiar with what that looks like, let's get into the actual contract process now. So directly within the contracts table or the tab, I'm gonna go ahead and click new contract. And remember, the use case that we're using today is we're going to be requesting a contract review. So we're receiving a third party paper directly from our counterparty, and we're gonna go ahead and, request for a review of that to our legal team. So from the contracts, I clicked new contract. Under contract type, I can go ahead and select the contract type that I am am, requesting today. And then over here, let's just name it something like, this is an MSA, third party paper coming from our comp our counterparty, Amber Cole. And the document source is third party. So I'm gonna make sure to do that, and then you can input additional information that you want. I'm gonna go here and select the counterparty that we're working with today. Now what you see on the screen is a list of data fields that I can input, on this request. However, a lot of these fields do come out of the box with Agiloft. They are meant to, keep track of any of the key information you have for a contract. But at any point during the implementation or, just ongoing administration of the tool, you can absolutely create your own custom fields. Any information you wanna track on a contract and then add it to this layout as well. So it's quite easy to, customize or tailor this layout and add additional data fields for information that you want to track. So any some of the fields can also be made mandatory as well. So let's say before someone can submit a contract request, they have to input the contract type and they have to input a contract title. So you can decide which fields are mandatory, which ones are optional, and that just helps bring guardrails into the system for your end users as they're walking through the contract request process. Now I'm gonna go ahead and upload the actual document, that I want to bring into the system. So I'm just gonna drag and drop the file that was sent over to me by our counterparty, and then I'll add that file directly to the contract record. Now what I've done here was I added the file manually to the record. However, we do have a plug in into, Microsoft Outlook. So if you do utilize Outlook for your email, platform, you can create you can automatically upload files from Outlook into, Agiloft. So the plug in does create that automatic, link between the two systems so that there's no manual, upload, if that's what you prefer. Now once I've uploaded that contract document, into the system, it will automatically be brought into, this attachments table right here. So this attachments table will actually, keep track of every single attachment that you have within this contract record. So any, supporting documents, any additional exhibits, if you have multiple back and forth with this counterparty for redlining, we keep track of all of these versions of the contract. We also keep track of the date that it was updated, who it was updated by. So there's a full audit trail here. And we also make sure that the latest version is the one that gets sent out for signatures at the end of this review process. Once the contract is uploaded, we have a couple of options for how we want to view it. We can view the file directly within, the Agiloft system. So it's gonna show right here, give you a quick preview. And what's, what we can do here as well is we actually have a tool here called Ask AI. So this is one of our AI offerings on the, Agiloft Platform. This tool simply allows you to ask this document any questions. So let's say I want to ask the document, can I terminate this agreement? So give me a quick summary on the termination policy or how many days I would need, to, terminate this contract. So what I can see here is it I can terminate this contract with a sixty day written notice. And if I drill down into where it got that information from, it also references the language within the contract that it found that information. So this is just an easy way to get some quick information about the contract. Once again, this is a third party contract. So it's not coming from your own standard template. You don't know all of the terms and conditions on this contract. Let's say you just really want to quickly find, a specific term or summarize this contract, you can do that with our a ask AI tool. So that's a really handy tool, for a user. Everything is within Agiloft. So once the document's uploaded, you can ask any question to the AI, and it's going to try to find that for you within the document. Another AI tool that we can utilize to review this contract is, called screens. So the way that I'm gonna access that is I'm going to click checkout to edit. And instead of viewing the contract within AgileMap, it's actually going to open it up in, in Microsoft Word. So, I think I have to alright. So, within Word, it's going to open up the document for me that I have right here. And the way that I'll access this tool is with directly within, Microsoft Word. I will have a plug in here called Agiloft Screens. Now Agiloft Screens is designed to be in the, Microsoft Word UI just so that we understand that your legal team or whoever is reviewing these contracts, they are used to working in Word, and we wanna provide a UI that is already familiar with them, and we're not taking them into another platform. So Screens is a plug in into Word, and it is one of our another one of our AI tools that is going to help your team, review contracts a lot more efficiently. Once I've logged into screens, what I'm gonna do is I'm going to select a screen now to run against this contract. Now because this is an MSA that we're working with, I'm gonna go ahead and click MSA playbook and run this screen. And while that screen is running, what I'm going to do is actually show you or explain a little bit about what Agiloft Screens actually is. So Agiloft Screens is our AI contract analysis tool, and it enables your team to more efficiently screen contracts to ensure that it meets requirements. And what do I mean by that? Like, how does that work? Basically, your team will go in and create a custom screen. And a screen is kind of like a framework, and it consists of two main components. The first component is standards. So you input a list of standards that are important for your organization. And a standard could be something like payment terms must be more than forty five days. And based on that standard, the system is going to look for that information. It's gonna find the payment terms, determine if it's more or less than forty five days, and then it's going to determine whether it is a pass or fail based on what your company's, requirements are. The second component of a screen is what we call questions. So, basically, any information that you wanna extract out of the document, you can ask the question. So, for example, are there any penalties for an early termination? If that's something that's important for you to know, you can ask that question in the screen, and it's going to find that information within the contract, and it's going to provide a summarized answer for you. So the screens tool is used to quickly review contracts and, flag any nonstandard terms. And it can be done on third party contracts that you need to quickly review, and it can also be done during the redlining process. Even if it's coming from your own template, once the counterparty has made any changes, we quickly review the contract and just, see whether their changes are something that is, flagged as nonstandard and needs to be reviewed by the legal team. Now let's go back into our word document. What we've done is we've run the screen. And on the right hand side, now it is giving us the results of that screen. So at the very top, we have a score for this contract, and the score is, 90 right now. So think of the score as a very quick preview into showing you how aligned this current contract is with what your standard MSA might be. This score is determined by the number of standards you have that are failed versus passed, and it's also weighted by how important that standard is. When you're setting the standard up, you actually determine whether it's a low, medium, or high risk standard, and the level of risk it is is going to affect the score more or less depending on that. So I can see it's a score for this first, for this third party contract contract that I'm working on, and then I can also see a list of any of the standards that have failed. The first one I'm gonna look at is the termination notice period. For my organization, it is very important that the termination notice must be thirty days or less. However, in this contract, I can see that it's actually sixty days. So my vendor's, term is that they require at least sixty days for a written notice, for termination. That is not gonna work for me because it's thirty days for us, so it's determined that it is a fail. And if I drill down into that fail, the AI reasoning is going to tell me why it determined that it was a fail. And it's also going to give me suggestions for a red line that will is going to fix this and bring it in compliance with my standards. So I can see that, I can apply these changes. It's going to bring the change back into the document automatically, and then I can also add any relevant comments, to the document as well. So this comment is basically saying why we made these changes, and we keep track of it, and we also track who made this change as well. We have another fail here. It's in, in regards to the governing law. So I can go ahead and drill down into those details and then apply changes here as well. So once again, these standards are based off of your organization's standards. You determine what framework of standards are being compared to, and then the system will tell you whether it's in compliance with that or not. So once again, very quick and easy way for your legal people to review a contract, and it saves them time so that they can prioritize, reviewing clauses that are important and, higher risk, compared to the others. At the very top, you can actually filter on the risk level of each of these standards as well. And then finally, under, questions, we also have a list of the questions that are part of the screens. So one of the examples we have here is, is there an exclusivity clause in this contract? That is something that is important to us. I can drill down into this question, see the summary of that question provided by the AI functionality, and it's also going to lead us to where it found that information within the document as well. Not only is it going to find, clauses or questions that you're looking for, it can also spot things that are missing. So if an exclusivity clause is important to you, but it cannot detect one in the contract, it's actually going to notify you that it cannot detect the exclusivity clause, and it's going to suggest that you add one to the contract as well. So it's finding things that are there that are nonstandard and also finding things that are not in the contract as well. So as a legal person or someone that's reviewing contracts, I can go through all of these results, take a look at the screens. And in addition to that, we also have the ability to access a screens chat or not chat, a question, a q and a. So similar to what I showed you before, you can ask any questions to this AI in real time, and it's going to find that information for you within the contract and give you an answer. And then we also have a list of boost. So I'm not gonna walk through all these today, but it's really interesting to, play around with and test out. Basically, it's ways that you can prompt the system to help you redraft, summarize, rework certain clauses based on a prompt that you, set. So if you want to shorten a certain clause, the AI can help you do that. If you wanna clarify it or find any clauses that might not be existing in the contract, you can do all of that in the contract boost. Now the screens, functionality, once it's been, utilized, everything is actually brought back into the Agiloft platform as well. So under the screen results, I am able to see a list of all of my standards that are, that have been created. I can see which standards are failed versus passed. I can see what the reason is. And if I drill down or scroll down a little bit more, I can also see a list of all the questions I asked the screens and the answer to that as well. So once again, as I mentioned in the beginning, why data is so important to us, our goal is to take unstructured words and sentences from a contract document and bring it into Agiloft as structured data. Because now all of this information's in the Agiloft table. We're able to create reports on it. We're able to trigger different notifications and, tasks based on these things as well as different approvals. So if a certain, standard is, a fail, we can automatically route that for approval to the appropriate people for them to review and either approve of this language or to reject it and make some changes. So now you have all of this information stored within Agiloft. As I mentioned before, the screens can be used for review doing a first pass review of a third party contract. It can also be used, during the redlining process as you go back and forth with the counterparty. Now once all the reviews are completed, there's a lot of, you know, downstream steps that Agiloft, supports as well. So if you look at the, tabs across the top right here, this is meant to give you a very logical next step to help guide your end users. So after all of the negotiations, we can go into the approvals tab, take a look at any approvals that are needed based on the contract. Once the approvals are done, we can send the contract out via email directly to our counterparty. So all of the email, communications are tracked within Agiloft. There's a full audit trail there, and we also have the ability to integrate directly to any esignature tool. Adobe Sign and DocuSign are both out of the box integrations, so we're able to create the envelopes directly in Agiloft on the same, agreement, record, bring that out to the counterparty, and then once signed, it will come back into, to our system. And then finally, post execution, keeping chunk of all the tasks and obligations that are, associated to this contract. And, anything that else that we need to track here, we can send notifications within the platform as well as sending email notifications out as well. So bringing it back to, the Agiloft, contract life cycle, we support every step of this process here, all the way from, contract requests, importing the document, which I showed you with a third party contract. I showed you how our AI tools can help you do quick reviews of the contract, being able to analyze and screen for any nonstandard language, helping you with the negotiation process, approvals, and then all of the post execution steps here as well. So that's what I want to show you today for the, Agiloft platform tour. So I hope that everything you know, what I showed was helpful just to give you a quick preview of what the platform looks like. And now I'm just gonna hand it back to Andrea to do, the closing remarks. So thanks. Thank you, Izzy. This was a great demo. I hope everyone enjoyed it as much as I did. And, so as a reminder, as I said in the beginning, you will receive a recording of this session in exactly twenty four hours. So look out for that, and also feel free to share with your colleagues. Once again, thank you so much for joining us. And, yeah, maybe see you next time. Thank you. Bye.