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:
- Accuracy is more important than speed
- A near-complete mapping of all rights and obligations from a contract is needed
- Budget supports the need for accuracy and completeness
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Example use cases:
- Pre-signature contract screening for purposes of deciding (a) whether to sign and (b) what to negotiate
- Benchmarking your own templates against market standards
Predicted™ reviews recommended for situations where:
- Speed is more important than accuracy
- The required analysis can be conducted from the 200+ available data points
- Gut checks are sufficient
- Budget does not support the cost of Verify™ results
Example use cases:
- 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
- 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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Not a TermScout user? No problem, the Predict™ Suite is currently available in beta for all existing and new app users through January, 2023.
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