In today's fast-paced business environment, leveraging Framesoft Document Intelligence (FAI) in contract management offers transformative benefits that can significantly enhance operational efficiency, reduce risks, and unlock strategic insights. FAI revolutionizes the way organizations manage contracts, from analysis to compliance, providing a competitive edge that is indispensable for businesses aiming to thrive.

Key Benefits

1. Insights and Applications

Framesoft Document Intelligence (FAI) automates the tedious and time-consuming tasks of contract review, data extraction and reconciliation. By significantly reducing the manual effort involved in these processes, businesses can allocate their resources more effectively, focusing on strategic initiatives rather than administrative tasks. This operational efficiency translates into substantial cost & time savings.

2. Enhanced Accuracy and Reduced Risks

The precision of FAI in analyzing complex legal documents minimizes the risk of human error, ensuring that key terms, obligations, and compliance requirements are accurately identified.

3. Improved Contract Visibility and Compliance

FAI provides unparalleled visibility into contract portfolios, enabling businesses to easily track and manage their contractual obligations, rights, and risks. This enhanced oversight ensures that contracts are consistently in compliance with the data items stored in FCR.

4. Competitive Advantage and Strategic Insights

By harnessing FAI, businesses can unlock valuable insights into contract performance, relationships, and market opportunities. This data-driven approach facilitates more informed strategic decisions, helping to identify trends, optimize contract terms, and negotiate from a position of strength. The competitive advantage gained through Framesoft Document Intelligence (FAI) is a game-changer, enabling businesses to stay ahead.

5. Seamless Integration and Scalability

FAI is integrated into FCR and its workflows, ensuring a seamless transition and immediate efficiency gains. FAI allows it to handle an increasing volume of contracts with consistent accuracy, supporting business growth.

FAI Screen

How Framesoft Document Intelligence (FAI) supports Contract Management

1. Document Digitalization & Text Extraction

(AI-driven) Optical Character Recognition (OCR) technology is used to digitize physical documents or parse digital formats. Preprocessing techniques improve the quality of text extraction & handling issues like skewed pages, different fonts, and layouts.

2. Understanding Contracts

FAI analyses the semantics of the text to understand the context and meaning of clauses within agreements. This involves parsing legal language, identifying definitions, obligations, rights, and conditions. FAI identifies and categorize key entities in the text, such as parties involved, financial terms, dates, and jurisdictional information.

3. Data Extraction

FAI will be trained on legal documents extract essential data items from agreement types stored in FCR, such as e.g., termination events, collateral arrangements, and netting provisions. Extracted data is normalized to ensure consistency across documents. This step is vital for accurate comparison and reconciliation with existing data items in Framesoft Contract Repository (FCR).

4. Agreement Identification

Based on the data extraction FAI checks if the agreement already exist in FCR. If so, the agreement data items stored in FCR will be compared with the clauses extracted from the document by FAI. If such agreement does not exist in FCR a new agreement might be created automatically. FAI can automatically detect and flag anomalies or differences between the contract document data items and FCR repository data items, prioritizing them based on predefined rules or their potential impact. 

5. Reconciliation with Framesoft Contract Repository (FCR)

Framesoft Document Intelligence (FAI) compares extracted data items from agreements with clauses in FCR. This involves matching contract terms, parties, and conditions to identify discrepancies or inconsistencies. The results will be presented in FCR Compare screens and can be applied or rejected.

6. Continuous Learning & Improvement

As FAI is exposed to more contracts and reconciliation tasks, it learns from corrections and feedback, further improving its accuracy and efficiency over time.

7. Workflow Automation

Automated workflows can be established where FAI triggers actions based on the analysis outcomes, such as updating records, generating compliance reports, or initiating review processes for anomalies.

 See FAI at Work

Framesoft Document Intelligence (FAI) is offered as Add-on license to Framesoft Contract Repository (FCR).

Contact us at This email address is being protected from spambots. You need JavaScript enabled to view it. or +41 41 545 37 72 to see FAI at work via online demonstration.