Last September, we announced Ironclad AI – the AI engine that supercharges Ironclad CLM – which can transform the way companies create, manage, and learn from their contracts. A pivotal moment in Ironclad history, we also unveiled Playbooks, a first-of-its-kind AI-powered tool to intelligently negotiate and review contracts at scale.
We’ve been quietly testing and iterating on the product in beta over the past few months, and today I’m excited to announce that Playbooks is now available for all Ironclad customers – at no extra cost.
What are AI-powered Playbooks?
Playbooks uses AI-powered clause detection that allows customers to review and negotiate contracts more intelligently. With Playbooks, companies can:
- Analyze and negotiate contracts faster
Ironclad AI automatically analyzes contracts, flags areas that require a thorough review, and provides suggestions on how to negotiate based on legal-approved guidelines.
- Review third-party paper and counterparty feedback at scale
Ironclad AI automatically loops in the right approvers at the right times to streamline negotiation, enhance contract collaboration and compliance, and speed up contract review times.
- Convert PDFs to Microsoft Word files (DOCX) for contract reviews
Ironclad offers the ability to instantly convert PDFs to Word documents when editing documents to slash the time and effort required to get contracts uploaded, reviewed, and approved. While this feature is not AI, it works hand-in-hand with Playbooks to further increase business speed and accelerate contract reviews.
New enhancements to our analytics platform, Ironclad Insights
Understanding the contracting process helps your team work faster, make better decisions, and drive more impact. This is why we launched Ironclad Insights, a full-scale AI-powered contract analytics platform that’s customizable, incredibly easy to use, and provides deep insights on both your contract metadata and the contracting process itself.
In the past month, we’ve released:
- Insights for Repository: Customers can use Insights to analyze historical contracts (records) in Ironclad Repository. This allows users to understand contracts that were created outside of Ironclad and get a further understanding of where their contracting processes are headed.
- Insights for Smart Import: every time a user uploads contracts using Smart Import, Ironclad AI instantly extracts key metadata from those contracts and provides instant data visualizations. A fully customizable experience, users can also generate three charts out of the box – with no configuration – including number of records by counterparty name, number of records by governing law, and total contract value by counterparty name.
- Multi-chart support: Insights now allows users to create and customize multiple charts in a single report to monitor KPIs in one place.
Ironclad AI now available in Europe
Ironclad is GDPR compliant and trusted by companies globally, which means customers can store their data in either the US or EU data center based on their business needs. We’ve also been working diligently to offer our best-in-class AI tools across the globe, and now allow customers to use Ironclad AI-powered features, including Smart Import, Insights, Playbooks, and more in either the US and EU.
Onward to 2023
We’re so excited to continue building new functionality for our users, while doubling down on what you already know and love. Later this month we’ll launch some incredibly exciting new AI features and expand our models and number of clauses that can be detected across contract types, and much, much more.
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Ironclad is the #1 contract lifecycle management platform for innovative companies. L’Oréal, Staples, Mastercard, and other leading innovators use Ironclad to collaborate and negotiate on contracts, accelerate contracting while maintaining compliance, and turn contracts into critical carriers of operational business intelligence. It’s the only platform flexible enough to handle every type of contract workflow, whether a sales agreement, an HR agreement or a complex NDA. The company was named one of the 20 Rising Stars on the Forbes 2019 Cloud 100 list, and is backed by leading investors like Accel, Y Combinator, Sequoia, and BOND. For more information, visit www.ironcladapp.com or follow us on LinkedIn and Twitter.
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