Evisort, the leading provider of contract management and AI solutions, today announced it has been included in the list of “Hot Vendors” in the “Workflow and Content Automation” report by Aragon Research, Inc.
Evisort’s intelligent contract management software uses AI to automatically pull out the most important information from contracts like expiration dates, automatic renewals, and key legal clauses. Evisort enables legal, procurement, sales, and teams across the enterprise to centrally manage contracts through a single pane of glass to create, negotiate, sign, and analyze agreements. Unlike other contract management solutions, Evisort offers a new way of managing and analyzing contracts using AI and no-code workflows, allowing any user to automate manual contracting processes without needing IT.
By using AI, Evisort is able to help both small companies and global enterprises like Microsoft, BNY Mellon, McKesson, and Keller Williams future proof their businesses by first building contract standards and playbooks based on past contract data and then protecting profitability by eliminating manual data entry and minimizing risk.
“We created Evisort because I was using my law degree to manually review and extract terms from thousands of contracts. It was not what I imagined I’d be doing when I signed up for law school. I thought there needed to be a better way so we set out to eliminate the tediously manual contract processes that increase risk, add costs, and slow deals for businesses. We feel that our inclusion in the Hot Vendor report is further validation that the market needs the new approach to contract management that Evisort delivers.” says Jerry Ting, CEO and Co-Founder of Evisort.
“Our research shows that the contract management market is growing over 30% per year. It’s on fire because the majority of companies don’t have a solution in place, and those that do have terrible experiences with legacy vendors or point solutions, which require months or even years to implement, don’t work with third party paper, and rely on outsourced human review to analyze contracts instead of proprietary AI. Evisort changes all of that with a cloud-based platform, an easy to use interface, and tools that make the contract cycle transparent and automate the approval process.”
Evisort can be implemented in fewer than 30 days and out-of-the-box algorithms work with in-house and third-party paper, scanned, blurry, digital, and docs with tables – even if it has not encountered those documents before. Evisort supports a wide array of contract types including sales, vendor, employment, and real estate contracts. Evisort pushes the expectations of what contract management solutions can do by allowing users to track new and non-standard contract information on the fly and train custom algorithms to identify unique provisions.
Jerry recommends live testing of all contract management systems to prove their technology works. “We think teams who deal with contracts have long been neglected from a technology perspective. So it’s understandable that many are skeptical about AI and what’s possible. That ‘s why we encourage anyone evaluating a new contract management process to do a demo with every vendor and make sure you actually see your contracts uploaded for the first time live. That’s the only way to see if the AI works.”
To learn more about Evisort, join Paul Branch, CTO of WorldCC (formerly IACCM), a leading not for profit association that works to equip members with the knowledge to create contracting standards and insights, on August 24th at 11 AM ET| 8 AM PT, as he meets with Patrick Won, Director of Client Solutions at Evisort to discuss best practices on how to evaluate, buy, and deploy AI-powered CLM solutions. Not able to join the webinar? Check out the official website to learn more and request a demo to do a live test with your contracts.
Evisort is an Artificial Intelligence (AI) company that specializes in contracts. Founded in 2016 by Harvard Law alumni and MIT researchers, Evisort’s contract lifecycle management and analytics solutions are powered by proprietary, out-of-the-box AI that delivers real-time insights into every contract, reduces risks and costs, and increases business agility and deal velocity. Evisort is headquartered in Silicon Valley and backed by leading strategic and institutional investors including General Atlantic, Vertex Ventures, M12 ( Microsoft’s venture fund), Amity Ventures, Village Global, and Serra Ventures. Learn more by visiting the website and follow @Evisort on LinkedIn, Twitter, Facebook, and Medium.
About Aragon Research
Aragon Research is an independent research and advisory firm that provides business and IT executives with the actionable insights they need to navigate technology’s ever-evolving impact on business. Founded in 2011 by former Gartner Lead Analyst Jim Lundy and headquartered in Morgan Hill, CA, Aragon Research works with executives at every major level of the business and across industries to give them the tools they need to make more informed technology and strategy decisions. Aragon delivers high-impact advisory, research, and consulting services, and has a proven team of veteran analysts. For more information, visit www.aragonresearch.com.
Aragon Research does not endorse vendors, or their products or services that are referenced in its research publications, and does not advise users to select those vendors that are rated the highest. Aragon Research publications consist of the opinions of Aragon Research and Advisory Services organization and should not be construed as statements of fact. Aragon Research provides its research publications and the information contained in them “AS IS,” without warranty of any kind.