ContractSafe uses Optical Character Recognition (OCR) to extract the text from scans so that all your contracts are fully text searchable. This makes it easy to find contracts (and provisions within contracts) with Google-like key word searching.
Our AI tool, called [AI]ssistant, takes this one step further. It reviews each contract when uploaded (using the OCR results) and automatically pulls out nine (9) data points.
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Contract Name
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My Company
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Counterparty
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Effective Date
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Termination Date
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Autorenewal (Yes/No)
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Renewal Term (Length, if Autorenewal is Y)
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Deadline to Nonrenewal (Date, if Autorenewal is Y)
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Includes Confidentiality (Yes/No)
These key information is presented to you for acceptance, which means you don't need to manually find and enter this information from the contract. We will be expanding [AI]ssistant to add more terms so it gets even easier to add new contracts to your account. For easy reference, here's a one page description of ContractSafe [AI]ssistant.
Please reach out to support@contractsafe.com for any questions.