Zug, July 13, 2020: Framesoft Online Negotiation for Master Agreements (FON for MA) and Framesoft Data Insight (FDI) fully integrated in Framesoft Contract Repository (FCR)
This integration now supports the integrated agreement request, creation, (internal) review & negotiation with counterparties as well as lifecycle management of any master agreement in FCR as follow:
1. Automatic Draft Document Generation embedded in workflow, e.g. Agreement Request Workflow
2. Structured Agreement Document Assembly via "Contract Template Management"
Dynamical creation of any type of agreement documents. Such creation is based on the flexible online configuration of a “Master” document and its individual components such as
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- sub-documents (Master Agreement, Schedule, Annex),
- sections and
- Terms (clauses / clause alternatives) based on an atomized clause library.
3. Document centered Master Agreement Review & Negotiation Workflow
Conduct the internal review and external agreement negotiation of such automatically generated Agreement Draft Documents with your counterparty via FON for MA integrated into FCR directly. During these processes FON for MA takes care of:
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- “Merge Handling“ of updates pushed into a currently reviewed agreement by
- new standard clause versions,
- non-standard clauses approved
- data point updates or
- individual update of clause text in the reviewed / negotiated document
- Automated generation of new agreements / amendments triggered by a standard clause update (if required)
- Automated generation of new agreement / amendment triggered by a data point update
- “Merge Handling“ of updates pushed into a currently reviewed agreement by
In addition, FON for MA has been extended by a messaging component which lists all activities performed and allows a direct communication (chat) between the different parties involved.
4. Integration with 3rd party agreements
In case the agreement shall be based on a 3rd party document, the FCR agreement request could be conducted and the 3rd party template can be imported into FCR (via FON for MA).
Once the import is concluded, the following actions are supported:
- Automated recognition of agreement clauses
- Artificial Intelligence (AI) based „Clause Compare“ against the FCR „Clause Library“
- Evaluation of Match Probability
5. Framesoft Document Intelligence
The Framesoft AI module "Framesoft Document Intelligence" can be integrated with FCR supporting
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- (Agreement) clause evaluations,
- Clause categorizations and classification
- data point detection / extraction / reconciliation
6. Reporting & Analysis
For agreement lifecycle management purposes an extended Template Repository Search (Clause Search) is offered for
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- searching for any expression within the clause template repository or signed contracts
- searching for generated agreements based on a selected clause
- searching for generated agreements based on selected (Sub-) documents / sections / clause configurations
- clause versions and its usage in generated agreements
- what if analysis – how many generated agreements would be affected by a clause update
Framesoft Data Insight (FDI) has also been integrated into the FCR client for these functionalities. Furthermore, FDI can be used for efficiently generating reports visualize the contents of feeds. FDI has also been enhanced by extending the drill-down and up functionalities now supporting multiple levels.
Get in contact with us for an online demonstration of the FCR integration and its exceptional possibilities.
