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JAGGAER, an independent spend management company and EdgeVerve Systems, a wholly-owned subsidiary of Infosys, recently announced the launch of Contracts and Risk Analysis solution, delivering AI-powered contract review and risk scoring. As part of the latest release of the JAGGAER ONE suite, Contracts and Risk Analysis comes pre-trained for immediate integration into contract authoring workflows. The solution learns continuously from the customer’s business and evolving market.
Contracts and Risk Analysis solution with inbuilt AI and advanced automation engine leverages EdgeVerve’s Nia Contracts Analysis to analyze risks in the contract and create a risk score, helping contract managers and approvers make more informed decisions. The engine uses optical character reading to digitize contract data. It then structures the data for analysis using machine learning techniques. The software analyzes terms and conditions in services agreements, statements of work, and other contracts to identify potential risks. The solution is designed to improve performance, making contracts a valuable tool for achieving business goals.
“EdgeVerve’s best-in-class AI and automation brings powerful processing to our platform, delivering critical business functions such as massive document validation to accelerate procurement processes through digital transformation. Risk Analysis represents another huge step forward on the journey towards fully automated processes across the source-to-pay spectrum covered by the JAGGAER ONE suite,” said Jim Bureau, CEO of JAGGAER.
JAGGAER is the world’s largest independent spend management company, connecting customers to a network of 4 million suppliers in 70 countries, served by offices located in the Americas, APAC, Asia and EMEA. JAGGAER offers end-to-end SaaS-based procurement solutions, including: advanced Spend Analytics, Category Management, Supplier Management, Sourcing, Contracts, eProcurement, Invoicing, Supply Chain Management and Inventory Management. These all reside on a single platform, JAGGAER ONE. JAGGAER has pioneered spend solutions for more than two decades and continues to lead the innovation curve by listening to customers and stakeholders in all industry sectors, public services and academia.
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