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Introducing the Predict™ Suite and Contract Review Levels

Otto Hanson Dec 1, 2022 10:31:17 AM
Sales Assist and Procure Assist by TermScout

Find the perfect balance between speed, cost, and accuracy.

At TermScout, we're all about bringing efficiency and transparency to the contracting process. In addition to the Verified™ Public Database, you can now leverage our AI-powered Predict™ Suite to quickly estimate the negotiating effort that would be required to work off of a proposed IT contract.

What is the Predict™ Suite?

Predict™ Suite makes it easy for you to quickly upload and review critical information about contracts within the TermScout platform, without the wait time associated with TermScout’s Verified™ review process.

This means in just minutes, you can determine if you should sign on your counterparty's paper and have the ability to provide data-driven rationale as to why you can or cannot execute that contract! With the introduction of Predict™ Suite, TermScout now offers two levels of contract review: Verify™ and Predict™.

TermScout now offers two levels of contract review: Verified™ and Predicted™

Verify™ vs. Predict™ - What's the difference?

 

Verified™ contract reviews are always carefully QC'd by our team of contract language and data experts. These reviews are a 24 hour turn around time due to the combination of our AI + Human QC that ensures you receive first pass contract reviews with 99% accuracy against your playbook. Verified™ contract reviews empower you to sign contracts with less friction, less negotiations, and managed risk on even your most complex contractual situations.

Predicted™ pre-signature contract screenings for both the sell-side and buy-side, still backed by our Verified™ contract database, predict the level of effort required to work off of a proposed contract template. These AI-only screenings provide contract analysis predictions with 85-99%* accuracy in minutes, with zero need for wasted time or labor from your team on routine contract reviews.

Click here to review a full breakdown of the differences between Verify™ and Predict™ contract reviews.

 

Use Cases for Predict™ and Verify™

 

Verified™ reviews recommended for situations where:

  1. Accuracy is more important than speed
  2. A near-complete mapping of all rights and obligations from a contract is needed
  3. Budget supports the need for accuracy and completeness
  4.  
Example use cases:
  1. Pre-signature contract screening for purposes of deciding (a) whether to sign and (b) what to negotiate
  2. Benchmarking your own templates against market standards

 

Predicted™ reviews recommended for situations where:

  1. Speed is more important than accuracy
  2. The required analysis can be conducted from the 200+ available data points
  3. Gut checks are sufficient
  4. Budget does not support the cost of Verify™ results

 

Example use cases:
  1. TermScout in-app use cases: Pre-signature contract screening for purposes of predicting the level of effort required to work off of a proposed contract template
  2. API use case: Analysis of large bodies of contracts for ratings predictions and/or defined issues such as assignment rights, limits of liability, indemnities, or protection of confidential information (read more on our APIs page)

 

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If you already have a TermScout account, sign in here to explore the Predict™ Suite today!

 

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Not a TermScout user? No problem, the Predict™ Suite is currently available in beta for all existing and new app users through January, 2023.

Sign up here (no credit card required)