Transform contract lifecycle management with AI
Inefficient contract management exposes organizations to significant compliance risks and revenue leakage. Many businesses contend with fragmented procurement workflows and a lack of end-to-end visibility. These issues are intensified by manual processes that are slow, error-prone, and costly. EXL's contract intelligence solution leverages a state-of-the-art agentic AI framework to transform the contract lifecycle, converting contracts into strategic assets that deliver measurable business value.
The challenge of modern contract management
Sourcing and procurement teams face considerable obstacles in managing contracts effectively. Many businesses struggle with a high volume of contracts. This leads to several critical problems:
- Fragmented workflows: Without a central repository, organizations lack contract transparency, creating increased demands for greater visibility that they cannot meet.
- Poor performance monitoring: Contracts often require huge amounts of time and effort to decode. Manual redlining and clause comparison slow down negotiations and hinder effective performance monitoring.
- Cost and revenue leakage: Poorly managed contracts can result in value leakage. Manual compliance processes often fail to catch discrepancies, leading to financial loss.
- Inefficient data integration: While most organizations have budgeted for automation, many still depend on manual data entry, causing errors and preventing seamless integration with enterprise systems.
A strategic AI-powered solution
EXL's contract intelligence solution is an agentic AI-powered platform designed to streamline procurement operations. It offers a comprehensive suite of tools that automate and enhance every stage of the contract lifecycle.
Key features
1. Contract origination
Simplify and accelerate the creation of new agreements with a golden clause library and pre-approved templates. The solution facilitates automated redlining and provides AI-powered negotiation cues, strengthening your position with data-driven insights and risk scoring.
2. Contract management
Gain complete control over your contract portfolio with a centralized repository. EXL's contract intelligence solution extracts metadata from all contract types, while a command center dashboard provides key metrics like spend analytics and renewal pipelines for proactive management.
3. Contract compliance
Prevent financial losses with automated monitoring. A dedicated compliance agent monitors spend and flags issues like out-of-scope charges. When leakage is identified, the system generates a claim, and a recovery AI agent tracks each case to closure.
4. AI co-pilot and insights hub
Empower your teams with on-demand intelligence. An integrated AI assistant generates summaries and responds to queries in natural language. With native connectors, the solution integrates smoothly with existing enterprise systems, including ERPs and CRMs.
Drive measurable business value
By implementing EXL's contract intelligence solution, organizations can move beyond manual processes to unlock significant benefits.
- Up to 60% cost reduction in manual data preparation and review.
- 4x faster contract approval cycles.
- 80% fewer compliance fines and audit exceptions.
- Immediate ROI with a payback period of less than six months.
EXL's contract intelligence solution transforms your contracts from static documents into dynamic assets, enabling better compliance and driving AI-powered insights.
Ready to transform your procurement journey? Book your demo today.