Eight years ago we created Ironclad to bring business contracts into the digital age. Now we take another leap forward in our mission to streamline the contracts process with today’s launch of Ironclad AI.
Let the humans focus on the human work
Contracts, at their core, are a human affair – they govern the relationships and entities between humans, and they’re upheld in a court of law by judges and a jury. And since they’re such a mortal thing, it’s important that we not eliminate that aspect.
We’re taking a human-centric approach to AI. We like to think of Ironclad AI as the Ironman suit for contract experts: It doesn’t eliminate the need for people, but rather allows them to do more with contracts – to work faster, collaborate more effectively, and make better decisions.
Today Ironclad becomes the only Contract Lifecycle Management (CLM) platform to include artificial intelligence across the entire contract lifecycle:
- Smart Import is our contract migration tool that uses optical character recognition (OCR) to scan, tag, and store contract data at scale
- Playbooks, launched today in beta, uses AI-powered clause detection to help customers review and negotiate contracts more intelligently
- Ironclad Editor converts any contract, including third-party paper, into a collaborative Word doc and identifies the key terms and clauses
- Ironclad Insights is a contract analytics tool which allows users to create visualizations of crucial operational and business data
Streamline the contract process for everyone
Ironclad AI helps teams process contracts at a much higher volume than they could if they were reading each contract individually. It does this by automatically extracting key properties in context. Sure, a lawyer or contract expert could pick these out of the text, but Ironclad AI is able to do this in a matter of seconds – for thousands of contracts at a time. Just like that Ironman suit, it makes the human user stronger, faster, and more powerful.
But it’s not just the legal teams and contract experts Ironclad AI helps – it’s everyone in the organization who interacts with contracts: sales, procurement, marketing, finance, HR, and more. With Ironclad AI, the entire org can accelerate the review and negotiation of contracts based on policies your legal team sets. So your contract experts no longer need to review every single contract, but can now rely on Ironclad to enforce those policies automatically.
As Everlaw’s Catherine Choe says, “Our goal is to keep legal out of 95% of our contracts, and Ironclad’s AI-driven workflows, permission controls, and analytics help us get there.”
How can Ironclad AI help your business?
Ironclad AI is one more way we’re bringing business contracts into the digital age. Sign up for a custom demo now to see exactly how Ironclad AI can help you speed your business, drive results, and operate more effectively.
Ironclad is not a law firm, and this post does not constitute or contain legal advice. To evaluate the accuracy, sufficiency, or reliability of the ideas and guidance reflected here, or the applicability of these materials to your business, you should consult with a licensed attorney. Use of and access to any of the resources contained within Ironclad’s site do not create an attorney-client relationship between the user and Ironclad.
