AI Contract Crafter

Overview

Businesses often face the need to generate new contracts from scratch across various scenarios. However, the process of sifting through numerous existing contracts for reference can be arduous and time-consuming. Moreover, training office staff to effectively locate and extract relevant content entails significant overhead. Typically, businesses resort to utilizing assorted templates and manually inputting details based on past contract executions. This reliance on maintaining a large library of templates incurs additional costs.

Maantic's solution leverages the Appian BPM platform to design and implement a robust Contract Generation solution using GenAI.

The key benefits of the solution and its impact are as follows:  

Efficiency: Businesses can efficiently create new contracts without starting from scratch for each use case, saving time and resources and streamlining contract creation processes.
Time Savings: Searching through multiple existing contracts is eliminated, as the solution leverages AI to use reference points. This significantly reduces the time and effort required for finding relevant information.
Reduced Training Overhead: The AI-powered contract generation system minimizes the extensive training required for staff to navigate and retrieve relevant content, thus reducing overhead costs associated with training programs.
Cost Savings: Businesses no longer need to maintain a large library of templates, reducing associated costs. The solution leverages existing contracts within the Appian-based knowledge library, reducing the need for additional resources.
Improved Accuracy: By using AI for contract generation, the solution ensures greater accuracy and consistency in contract creation. This reduces the risk of errors and discrepancies in contracts, enhancing overall quality.

Key Features & Functionality

Maantic's solution leverages the Appian BPM platform to pioneer ‘AI Contract Crafter'. This innovative system seamlessly integrates GenAI services to generate new contracts based on existing ones stored within the Appian-based knowledge library. Users can easily upload their existing contracts through dedicated channels, gaining access to vital metadata and tags associated with the content during the upload process. These contracts serve as a 'Prompt' input to GenAI, empowering users to specify the desired format for the new contract. Alternatively, users may opt for a template-based approach guided by GenAI to streamline contract creation process. Once the new contract is generated, it can be routed for approval and seamlessly capture inline signatures before publication.

The Key features of ACC are:

Integration of GenAI services for contract generation
Ability to create new contracts based on existing ones stored within the Appian-based knowledge library
Dedicated channels for users to upload existing contracts
Access to metadata and tags associated with uploaded contracts
Contracts can serve as a 'Prompt' input for specifying desired formats
Option for guided template-based contract creation using GenAI
Routing of generated contracts for approval
Inline signature capture before publication

Major Personas are:

Admin – Responsible for contract upload/management.
ContractCreator – Can access GenAI based contract creation capability
ContractApprover-For approving generated contracts