Evisort is a cloud-based contract management software designed to use artificial intelligence to provide a new way to manage contracts. Evisort, founded in 2016, has experienced rapid growth in the past four years. Initially designed by Harvard Law and MIT researchers for the legal field, the software can easily adapt to handle documents from virtually any industry or enterprise.
Contracts are at the core of every business, and Evisort is rapidly changing the way companies manage their contracts and the vast array of supporting documents contracts require. The following Evisort review will focus on how Evisort is changing the landscape of document management for companies around the globe.
Evisort sets itself apart from other AI-based contract management software in two distinct ways.
Evisort comes pre-trained
Evisort is not the first contract management software to use artificial intelligence and machine learning to improve the way contracts are managed. Evisort’s software does, however, come pre-trained to read more than fifty key data points. The pre-training makes Evisort usable immediately, and the machine learning will continue to make the software better as it learns.
Evisort’s closest competitors can offer similar features, but the machine learning algorithms take time to learn a businesses’ contract management needs.
Evisort can “learn” the meaning in contracts
Evisort’s machine learning capabilities enable the software to understand the meaning of contracts. The capacity to understand contracts allows the automated sorting, tagging, and filing of contracts without human intervention. Just a decade ago, that claim would sound like science fiction. Now, language parsing is something software is capable of doing and the capabilities are continually expanding.
Evisort registers words and clauses in context, automating the scanning of contracts and extracting the relevant facts in a concise form. In automating the basic understanding of a document, enterprises never have to worry about lost or misfiled contracts again. Given the time involved in scanning, sorting, tagging, and filing contracts, the time savings of Evisort is immense.
Other features:
Evisort integrates seamlessly with virtually all existing IT platforms and can find contracts stored on any number of platforms. Combined with the pre-training, Evisort is among the most accessible contract management software platforms to set up and use. The ease of use does not mean that Evisort does not have the same sophistication of other systems.
Evisort excels at working for enterprises of all sizes, while not skimping on features. Evisort’s features most widely used across all industries include:
- Evisort offers cloud-based storage that is accessible at any time and from any device, including full mobile device integration.
- The software makes searching for and extracting data and metadata easy.
- Evisort clarifies the content of a contract and can perform analytics on the contract.
- Evisort can sort contracts by any number of parameters, including what type of contract, renewal dates, or particular clauses or phrases.
- Evisort excels at risk mitigation by setting alerts to warn users of approaching dates within a contract.
- Contract creation is less labor-intensive. Instead of offering only pre-built templates, Evisort allows users to effortlessly access previous contracts using the same provisions and contractual elements.
- The ability to learn from and manage, third party contracts is unique to Evisort.
- The platform can upload hundreds of contracts at one time.
Reviewing contracts was once a labor-intensive endeavor, but with AI-driven software, you can review contracts effortlessly. You no longer have to worry about missing essential clauses or dates, because non-standard language and all dates will create an automated alert.
Contracts contain vast quantities of data with the potential to offer critical insights to a business. Evisort can help your enterprise gain insights from the raw data in contracts. Evisort can generate a search for patterns, giving you critical information about what has worked and what has not been successful in previous contracts.
