Name: Agiloft with AI on the Inside™
Uploaded: 2025-07-07T22:16:53.695Z
Duration: 1 h 12 s
Description: Agiloft with AI on the Inside™

Transcript for "Agiloft with AI on the Inside™": Good morning, everybody, and welcome. I'm Jennifer Coniglio with CCBJ, and we're thrilled to be working with our partner, Agiloft, to present today's tip Tuesday webcast, First Look, Agiloft with AI on the Inside. Our distinguished speaker today is James Skelly, associate solutions engineer for Agiloft. We encourage you to ask questions as well as fill out the survey with your feedback at the end. And if you're interested in any materials, you may download them using the blue paper clip icon. And all of these icons are located at the bottom of your screen. And now it's my pleasure to pass it off to James. James, take it away. Awesome. Thanks so much. And, yes, I'm James Skelly. I'm a solution consultant here at Agiloft. And today, we're gonna be going through a quick contract life cycle and seeing how AI can supplement us throughout the process. Before we get started, I did want to just set the stage with a couple of, different stages of CLM maturity. So we partnered with a firm called MGI Research to go in and define the different stages of maturity for a contract life cycle management system within an organization. And that first step is gonna be, let's just get all of our documents, you know, in SharePoint online, not stored in filing cabinets. And that's that e document stage of maturity. The next portion would be, let's go ahead and automate the signing of contracts using esignature tools like Adobe sign or DocuSign. The next step would be, you know, automating those workflows, having people, you know, give automatically assigned contracts or pulling in subject matter experts automatically. And on top of that is going to be the contract authoring base, you know, pulling in your templates, your different clauses, having different predefined criteria drive the inclusion or exclusion of those templates and clauses. And then the item that we're gonna focus on today is contract intelligence. Let's, you know, use powerful AI tools to come in and extract data from our contract, as well as do qualitative analysis on those items regarding the risk or compliance of the items within our, contracts. So we're gonna be focused on that contract intelligence portion today, And the majority of our demo is gonna be focused on how, AI can supplement our contract review. And it's going to do three things. It's gonna eliminate your busy work. It's gonna meet you where you work today. So, you know, a lot of our contract managers, negotiators, people who are collaborating on contracts are doing so in Microsoft Word. So we've got tools that are going to meet you right where you work within Microsoft Word, and that's exactly what we're gonna see today, screens by Agiloft. It's a cutting edge AI tool that will help you redline your contracts and get those items in your contracts that have failed your standards into compliance with maybe your gold standard template or your playbook. And just a quick quick case study, we can come in and see how long our customers ask you reduce their contract review time by 30% once starting to use screens by Agiloft. So they set up their own personalized screens that allow their contract reviewers to come in and easily get that first pass done by AI, drastically trimming down their contract review time. So those are all the slides I had. Now we're gonna dive right into the system, and I'll just give a brief overview of Agiloft. Up at the top here, we've got our global search bar. This is where we can search through contract documents, contract records, really any data in the system. Over the right, we've got our configuration set up here. That's where our admins can go in and own the system with no coding required or really any technical experience. It's really easy to manage permissions, set up workflows, things like that. I can also come in and manage my profile here in any of my preferences or maybe if I'm an international organization, we could have, you know, folks come in and select their preferred language to view ASH locked in. Then from this dashboard, I can, you know, kick off new contracts. I can view recent contracts I've been working on, or I can filter down my list of contracts based on different safe search criteria. We've also got different ways to view data, different KPIs here to click into different contracts. I could come in and view all my contracts in flight through these, you know, charts on my dashboard or maybe upcoming contract expirations by dollar amount. So really easy to visualize our data. You You know, this is totally customizable as well. This is just an example of one of our dashboards. And so then down here at the bottom, we've got the my assign contracts queue. This is where all of our contract requests will land when we go ahead and, you know, come in and kick off our day when it comes to contracts. Now I'm gonna jump into a little bit of a different screen. So we're gonna dive right in to our end user portal, and this is where our business users can come in to get in touch with the legal department or the contracts team to easily kick off a contract request or view all of their specific contract requests. Or maybe they can come in and view their team, department, region, or locations contracts. So, you know, just a few links. Not a lot of places to get lost here. We'll just go ahead and click in and fill out all of these details. But, you know, in the old world, we might have had to go in and fill out this form line by line. But because we're using AI with Agiloft, we can easily come in and drag and drop our counterparties document right into this drag and drop section and extract the key terms and clauses using AI. So I'll go ahead and just drag and drop that agreement right there, then click upload and analyze. And what's happening here is we're going in, we're picking out the key terms and clauses specific to this contract, things like the start date, the end date, the different parties involved. So it's really easy for me. Looks like it just synced back in. Here, we can come in and view all of the details within this contract. So it's easy to see things like the title, the duration, the different dates involved. You know, there's my counterparties information, information about the term. And then, additionally, not only are we gonna fill out that entire form for you, picking out the key terms and clauses, we're gonna do qualitative analysis on this contract. Let's have generative AI write us a quick three sentence description that lets our business user know, hey. This is the contract document that I intend to attach and provide with this request because, you know, a lot of folks across the, you know, industry, they are receiving random attachments and things like that. So it's really easy to have that quick validation point to give that quick description for the internal submitter. And so now this all looks good. We'll go ahead and submit this for review. And when I do, notifications are gonna go out to all of my stakeholders involved. My dashboards will update, and I've got another contract in progress there on my dashboard. Then I can come in right to the top of my queue and open up this contract. There, I'm able to start to see all of the details that were provided by our requester and the information that AI extracted. So it's really easy for me to get a quick preview of this contract as the contract manager or legal user. So that's how Agiloft would go in and fill out all the details on this form for us. There's our counterparties information. So that's how that intake would work. Now as the contract manager, I can come over and actually begin my work on this document. Here, I can access the contract document via Microsoft Word, which is what we'll do here in a second. But first, I wanted to show you how we could come in and view the different clauses that were extracted from this agreement so we can get a preview as well as an index and categorize the different pieces of language within this contract to make it really easy to store those clauses, make them searchable, reportable, and, again, stored for future use. So we are extracting a lot of data from that contract upon submission. So now we're gonna go in and, you know, open up the contract document, and that's gonna prompt me to open up Microsoft Word. And the good news about using Word is, you know, Word is what we're used to in legal, especially when it comes to contracts. So we're gonna meet you where you work and allow you to work within word, where things like comments, track changes will work just fine. So if I come in and, you know, make some changes here, you can see that they'll be redlined by words, track changes. But let's say, you know, the counterparty has track changes turned off, you know, we're gonna automatically track changes for you anytime the document gets synced in and out of the system. So here, I'm gonna quickly get signed in to my screens tool, and that's gonna allow me to interact with Agiloft right from within, Microsoft Word. So just a quick simple sign in. If you're, you know, set up with Agiloft using single sign on, you wouldn't have to worry about this step. You could just click right in and start reviewing those contracts. But here, what a screen is is it's the ability to evaluate a contract based on a set of standards and questions that you have, and that might come in the form of a playbook. It might, you know, be personalized based on a few statements about your contracts that are true every time you're negotiating agreements. Or it can be based off your gold standard template, and you could create your own personalized screens for your business or your different lines of business or contract types. And in addition to that, we've got community screens here, which are some of our customers that have went in and created screens that we've identified as being really high performing. And those customers have actually, you know, opted in to publish these out for the community. And this is extremely helpful when it comes to creating, you know, your own personalized screens. You can use, you know, the community screens as a starting point. You're able to go in and see details about the author, limitations or assumptions or purpose of that screen, maybe some details there about the author before we actually run that screen. Community screens are also super helpful when it comes to, you know, a one off scenario. You know? You might not have a playbook for a really edge case specific contract. You can go into the community screens and and see if the Agiloft community has you covered there. So here, once I click run screen, the tool is going in. It's evaluating this contract. It's, you know, picking out the key terms and clauses like we've already done. And then now we're doing that qualitative analysis step. Let's see how the items in this contract stack up against our playbook and whether they meet our standards or not. So here, we've completed the screen. So right off the bat, we're gonna get some data. It's going to tell us, you know, our standard score. You can think of that like your test grade. How well have has this contract performed against my standards? And it looks like, you know, you can get some, you know, curve details on your test score. You could see, you know, where you're sitting compared to the other contracts that have run against the screen. So we don't want a 50 on the test, but we're in the right spot within the curve, better than 60%. We can come in and start to review the high risk items that have failed or the medium risk items. So I could, you know, toggle on, you know, high risk standards. And an example of its standard is, you know, show me a payment term that is net 45 or more. That that is our standard there. So the contract should provide net 45 payment terms. It'll highlight and tell us, hey. Look. This is net 30. This is a failed standard. It'll give you that AI reasoning to spell out why this item failed, and then it's gonna offer us an automatic red line here to right that wrong in as low touch of a way as possible, quickly changing that from 30 to 45 and adding in a comment with that AI reasoning to tell me why this, you know, item was edited within the contract. And notice it does say my name on that comment. It doesn't say AI made this change or anything like that. So your secret that you're using AI to review contracts is safe with us. And here, what I like to do is just toggle on all the failed items. So there, I can just click right in and, you know, we'll go to the next failed item, which is, you know, no termination for convenience. So it's gonna prompt us to go in and strike out that last sentence there. So I can easily go in and strike the last sentence. It'll add that comment there. And, you know, now I can go through the rest of this contract and start to fix the rest of the, you know, failed standards. You do have a quick AI easy button that you could go in and have screens take a whole entire first pass of that contract and just, you know, add in those automatic red lines and comments with one click. In addition to that, we've got boosts, and the boosts will come in and help you redraft a highlighted selection based on your own specific instructions. It'll allow you to summarize different sections here, or you could simply just come in and make it neutral. So really easy to just click this, make neutral, and it will go in and it'll make this indemnification neutral. And, again, it'll do it in as low touch of a way as possible, quickly inserting those surgical red lines, not ripping and replacing your standard mutual indemnification from your clause library. Another popular boost here is the ability to come in and negotiate a specific clause as well as generate a risk summary. So this risk summary is going to allow me to come in and select, you know, do I want a concise risk summary? Do I want to see high, medium, or low risk items? And then, you know, write this as an email to Dan in sales. So it's really easy to share Streams' findings in the form of an email, after we completed that analysis so that we can pull in those subject matter experts or let people know why, you know, a contract is unacceptable. And there's your quick AI risk summary there, and, you know, you could add in custom instruction if you want any other details included. The last feature I wanted to show within the screens for the add in is the ability to come in and just ask anything, to this contract. So I could say, you know, what is the end date? And I'm able to have a natural language conversation with my contract as well as the, you know, AI tool actually taking me to where it found the context of its answer and highlighting that selection there. So really easy to ask it pointed questions, or I could come in and, you know, ask for a generic, you know, summarize the limitation of liability. So really easy to go in there. It should work even with my typo. It'll take me right to the limitation of liability and give me that quick summary there. So really easy to go in and reference different details from your contracts tool. In addition to, you know, just those automatic red lines, we can come in and get user guidance around specific standards. So if there's additional instructions, playbooks, or steps that the user needs to take, you can have that user guidance section, and we can also have our preferred language pop up here as well. So, we're really excited about this tool. It's really slashing contract review times drastically. Like we said, ask you slash the review times from about 30% so far once using the screens. So now that we're finished with this document, I'm gonna go ahead and save and close out. And here, it's going to automatically sync back into the system, and a new version will get created. So, you know, it'll sync back in. While we're syncing it back in, we can add in any, you know, supporting document or attachment with the click of a button so it's really easy, to do. We can also convert from Word to PDF or PDF to Word. So it's really easy to go in and manage the, you know, contracting process. Even if you receive, you know, that PDF, you can convert it right to Word. And then, additionally, you know, we're going to track if any of these clauses have been modified, and that's where it makes it really easy to assign out clauses to different subject matter experts and things like that. So here, since we've run a screen, now back in our Agiloft system, we can come in and review some of those details and KPIs from our screen. So we can see the name of the screen that ran, the items that have passed and failed, and there's our overall score. Once we've got that information in our system, it allows us to route workflows based on this. You know, maybe contracts over a score of 80 don't need a specific set of approvals or, you know, those low scoring contracts need an extra step. So you can have different logic, you know, set up and also get really great reporting as to which vendors, you know, have a high risk profile and, you know, where, you know, our standards have failed across our contract portfolio. So it really gives you a lot of data when it comes to contracts there. So now we're gonna go ahead and check out we'll see if that version synced back in there. And if not, we'll go ahead and move on to the next portion of our contract, which is going to be, you know, some further AI that allows us to interact with our contract documents right from our repository. So when I click right in here to this contract, this MSA here at the top of my queue, I can have that similar Agiloft AI experience right from my repository. So here, I can come in and search through any of these contracts, and I can click right into all my active attachments. I could view and preview that file. And, you know, in addition to having that Ask AI capability within your Word document, I can come into that services agreement, and I can ask it natural language questions and even say, you know, how will upcoming, you know, tariffs affect this contract, which might be a popular question today. You can come in and easily get context if there is a, you know, tariff neutrality clause. It'll answer you and take you right to that section within the contract. So, again, we really want to enable you to have that AI agent throughout the, you know, course of your workflow when it comes to contracts. So really easy to dive into those, you know, high priority items within your high profile contracts. Here, we can also come in and search through our system. You've got saved searches where we can dive into all those active contracts expired within the next ninety days. On top of that, we could easily, you know, search text through our system. You know, all of our, you know, documents are fully OCR'd, so it's easy to go in and text search through your agreements or search off of contract type, your different companies that you're working with. Any field in Agile Opt is searchable and reportable. And so last item I wanted to show around screens was our ability to come in and extract comp contract obligations. So we saw how we could go in and evaluate an entire, you know, contract document with different standards, but let's see how screens can come in and extract different deliverables from our contract. So it's easily in the same fashion, as we ran the screen to come in and extract and assign out different deliverables within our contracts and get different details about those, like, you know, a due date or, you know, let's assign it systematically to our subject matter experts for these different items. But Agiloft makes it really easy to report what we have agreed to, whether the responsible party is us internally or it's our counterparty, it's really easy to go in and extract that data from your contract. So, you know, that will become instantly searchable, reportable, and then, you know, you can easily have, you know, different dashboards, this obligation management dashboard so you can track the financial impact of some of those obligations that might be overdue or upcoming. So we're never going to miss that million dollar comma within our contracts. And in addition to an obligation management dashboard, I could come in and see different screens details, on in the form of a dashboard. Here, I can have a link to dive right in and set up those custom screens, or I could get some KPIs on my screens usage, the different screens that we're running, as well as, you know, different contract types that are adopting screens at a higher rate as well as just generic risk profiles across your given data. But I really hope that we've shown how screens can really improve your contract review process and how Agiloft and, you know, AI on the inside can really, you know, smooth out and add efficiencies across the board. So now we're gonna go ahead and dive in to a few questions that we've gotten throughout our demo. So I'm just gonna go ahead and, you know, pick from a list here. So we had a question, you know, about how Agiloft actually extracts these details from our contract. So we're using a mixture of machine learning as well as generative AI models to go in and pick out those key terms and clauses that are familiar to, you know, every contract. And, you know, that might drive a follow-up question. You know, is our data going to be trained on if we use Agiloft? Are we gonna see our data in chat GPT or, you know, what's our data security like? Agiloft's not ever going to train on your data. We're using an Agiloft owned instance of GPT four o, to go in and, you know, easily evaluate these contracts without having to actually use a third party vendor for AI. So rest assured, we're not training our customers' data. Your data is yours throughout the use of Agiloft, and it's never leaving your system. And we're happy to have those architecture conversations, if necessary. So next question. How are those comments based on playbook comments that we have to make? So, basically, the comments that we saw within screens, those are gonna be based on the specific standard that you've created. So let's say your standard is that payment terms example. We'll never accept anything under net 45 payment terms. That will be, you know, your playbook, and it will use that prompt to go in and write the comment and say, you know, hey. This is why this failed based on AI's findings. We'll input that into the comment. So it's gonna be based on your playbook, and it's gonna write the comment in relation to the contract, how that contract failed that standard. So, hopefully, that makes sense. Now we're gonna go ahead and check out our next question. Is it trained is this system trained on Canadian legal content? So the system is trained on general legal principles and, you know, the AI models have been tweaked, for legal use. So it's not specific to any one country. But the cool thing about screens is it allows you to take your best practices, you know, utilizing Canadian law, or wherever, you know, your attorneys' lawyers might be subject matter experts in, and they can create their own screens with their best practice. So AI isn't gonna be your magic bullet. It's just going to help you, you know, utilize your legal practice better. So you can hone it into specific, you know, segments of the law in different regions, you know, with those personalized custom screens. Couple more questions. So do the updates to the key clauses made in screens carry over to contract clauses? So, yes, the changes that we've made to our tagged clauses can be updated into our actual system so that we can track our deviations over time. So it's really easy to come in and see where we've made changes to that limitation of liability, For, you know, all of our contracts in general, let's see, you know, which clause types are being, you know, frequently modified, so we can report on all that data in the form of a dashboard here when it comes to marking up clauses. So it's not gonna go in and change your exact clause library, but we will store every instance of your clauses that have been used when we do make those changes so that we can, you know, report on those, if something changes down the line. You've got every single time you use the limitation of liability tag, there for your review. So now we're we've got time for a couple more questions. Is there any way that screens can highlight that entire section was deleted during redlining? So, yes, absolutely. Agiloft will track if an entire section has been deleted, during the redlining process even if that counterparty were to have track changes turned off. So you would absolutely know that that clause was missing from your contract, and you'd be able to see evidence of that. Okay. Couple more questions. We've got quite a bit coming in. So we'll be we'll be sure if I don't get to all of them to, you know, respond to them, after this demo here. So no worries if I don't get to your question. Alrighty. Does the contract AI chat work with PDF contract attachments on which OCR has been run? Absolutely. So you can definitely use Ask AI on an OCR PDF. But when it does come to screens and actually editing contracts, of course, you would have to convert that PDF to Word to manipulate that within, screens. So, absolutely, Ask AI will work just fine on PDFs. When is the AI chat with existing contracts available? So, if that's from a current Agiloft customer, it should be available today. Your instance might need to be updated, to be able to see that or the appropriate licenses might need to be purchased or installed. So, absolutely, happy to follow-up on that as well. Alrighty. So can you run screens analysis or clause extraction against current active contracts in your system? Absolutely. So screens can do a full bulk review of all your contracts. It's really easy to do as well. And then there are ways for us to run, you know, that AI extraction on your legacy contracts, whether that's in, you know, form of different batch syncs, or we can do it in, you know, one, you know, mass import. Or it can be run on existing contracts in your Agiloft system if that's from a current Agiloft customer. So, absolutely, there's definitely ways that we can run AI against your legacy contracts is the short answer. Alrighty. We've got time for about one more question. Is there a document management integration? Absolutely. So, you know, if you're integrating into SharePoint and you like, you know, your versions or maybe just the final version stored within SharePoint or, you know, an iManage, something like that, that is a common integration for us. So, absolutely, we do have document management integrations, and that's common for us. But, you know, that really wraps up our time here today. I wanna really thank everybody for all their questions and engagement. I really, you know, hope we've shown how Agiloft can really slash that contract review time. Anyway, thanks so much, and I hope you all have a great rest of y'all's day.