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Apttus Extends its Contract Lifecycle Management Solution with Kira Systems Machine Learning for Contract Text Analytics

by: Andy Kim | May 15, 2018 11:00:00 AM
4 min read

Powered by Kira Systems, Apttus has introduced the world’s most advanced solution for managing agreements on third-party paper

SAN MATEO, CA – May 15, 2018 – Apttus, the global leader in Quote-to-Cash and Contract Lifecycle Management solutions utilizing artificial intelligence (AI), today revealed a new solution combining its Contract Lifecycle Management offering with advanced machine learning text analytics from Kira Systems. The resulting capability enables Apttus customers to use intelligent identification and extraction of data, reducing risk and accelerating contracting processes involving third-party agreements.

As the recognized leader in machine learning contract analysis, Kira has been proven to reduce the time to review third party contracts for standard business provisions by 30–90%. In order to meet corporate client demand for contract analysis, Kira Systems has built up a robust certified partner network who leverage Kira to help with projects including major diligence exercises, post-merger integration, regulatory reviews, and contract lifecycle management solution implementations. Together, Apttus and Kira Systems have partnered to create a unique set of capabilities for contract administrators and business managers to create and manage agreements using third-party paper.

Capabilities include:

  • Intelligent identification and extraction of data to reduce risk and accelerate contracting processes involving third-party agreements.
  • Built-for-purpose machine learning text analytics for contracts provides administrators, legal operations professionals, and contract managers with high-speed, hands-free ability that streamlines contract processes.
  • State-of-the-art capabilities for the end-to-end contract management process from creation, redlining and negotiation, to execution and activation, and the stages beyond.
  • Machine learning analysis tailored to specific corporate needs can be used interchangeably between Apttus and Kira platforms. Kira for legacy contract and bulk import projects; Apttus for third party contract review and negotiation.

“Enterprises have tons of contracts filled with valuable but hard-to-access information. Kira helps users extract better answers from contracts in much less time. We believe Kira should be available anywhere contracts reside, and so we dedicated resources last year to expanding our APIs. When we started speaking with the team at Apttus about this potential enhancement, we knew it was a great opportunity to help meet the increased demand by our corporate customers, both to use Kira for their large scale contract metadata extraction projects and on an on-going basis within Apttus as part of their existing workflow,” explains Noah Waisberg, Chief Executive Officer and Co-Founder of Kira Systems.

“This solution is a landmark achievement, borne of two industry leaders combining their advanced capabilities,” said Neehar Giri, co-founder and Chief Solutions Architect at Apttus. “By combining the machine intelligence of Kira Systems with the contract lifecycle management expertise of Apttus, together we can deliver savings and risk reduction to our customers. These new capabilities can create this value by lowering operational cost, accelerating contract cycle times, reducing errors and enabling reporting on the contents of third-party agreements. We are extremely excited about this new capability. It is a game changer for law departments and their business partners."

To learn more about this capability, attend Apttus Accelerate 2018.

About Kira Systems

Kira Systems' technology is the most used and trusted software for contract review and analysis, helping the world's largest corporations and professional service firms uncover relevant information in documents. Kira is powerful, patented, award-winning software that excels at searching and analyzing contract text and can be deployed for due diligence, knowledge management, lease abstraction, regulatory compliance and other projects where visibility into contract provisions is critical. Using Kira Quick Study, anyone can train additional models that can accurately identify virtually any desired clause. To find out more, please visit www.kirasystems.com.

About Apttus

Apttus, the category-defining Quote-to-Cash and Contract Lifecycle Management technology company, drives the vital business process between a buyer’s interest and the realization of revenue. Utilizing a patented combination of SaaS-based applications, the Apttus Intelligent Cloud maximizes revenue and business outcomes for companies of all sizes, including 100 of the Fortune 500. Enhanced by Machine Learning and Max, an Intelligent Agent, Apttus applications include Configure Price Quote (CPQ), E-Commerce, Contract Management, Incentives Management, Renewals, Billing and Order Management. The Apttus Intelligent Cloud is powered by the world’s most trusted cloud platforms, including Salesforce and Microsoft Azure. Apttus is based in San Mateo, California, with additional offices located across the globe. For more information visit: apttus.com.

 

 

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