Agiloft’s Fall Release: How our newest features will increase your CLM confidence

Contracts are the lifeblood of an organization. These agreements solidify relationships with employees, vendors, customers, and more, stretching far beyond the legal department and affecting each individual team in their own way. As such, the effectiveness, reach, and accuracy of your Contract Lifecycle Management (CLM) system can have downstream effects on your entire organization, and you need to have confidence in the system you’ve put in place.  

The Agiloft team works to ensure our products are continuously evolving by introducing new enhancements, features, and tools that keep our Data-first Agreement Platform at the forefront of the CLM market. With that in mind, Agiloft’s Fall Release is designed to promote confidence throughout the entire contract lifecycle. Each new element inspires confidence not only in the contracts themselves, but in the contracting process, in the contract data you’re using for important business decisions, and in the technology that’s helping you get there.  

Confidence in your agreements 

Agiloft’s latest release features a number of enhancements that inspire confidence in your contracts themselves, utilizing the unique, standard and acceptable language that your organization has developed.  

GenAI Prompt Lab, a part of Agiloft’s AI Platform, has several new prompt templates to assist in developing, implementing, and identifying the presence or absence of language that your company has identified as required and/or unaccepted within agreements.  

The “Red Flags” prompt allows users to define organization-specific risk indicators within an agreement. Once these flags are defined, your organization can decide the next steps, such as a simple flag for tracking, an automatic route to the legal team for escalation, a risk score assigned based on the information, etc.  

In addition to the new “Red Flags” prompt, there is a new series of clause library management prompts. You can leverage GenAI Prompt Lab to analyze a large number of agreements at once (thanks to our new upgrade to Anthropic Claude 3 Haiku) and then suggest a new standard and fallback clause to be added to your clause library – writing the perfect clause, in seconds. With that new standard, you can scan your entire database to identify any agreements that exist that don’t fall within the parameters you’ve created.  

With the click of a button, you’ve implemented an added layer of detection to be confident that all the agreements traveling through your contracting process are up to your standards.  

Confidence in your CLM platform 

While the agreements themselves are of the utmost importance, the process in which those agreements are created, signed, and then stored and managed is also important – and so is the technology you choose to accomplish those tasks.  

GenAI Prompt lab also received a new prompt to significantly reduce the pain of poor data hygiene, and the stress that comes with it. The “Data vs. Document Discrepancy” prompt helps you identify if and when your CLM records don’t match the data that’s laid out within an agreement so your team can rectify as needed.  

Finally, while AI is becoming more commonly used in our day-to-day operations, leveraging AI with something as important as contracts could seem scary – unless you have a CLM that provides a referenceable AI product like Agiloft. With Agiloft’s ConvoAI Document Q&A, you can ask questions about your contracts and know exactly where in the document AI pulled your answer from.  

Conclusion 

Agiloft’s latest product updates are all about instilling confidence at every stage of the contract lifecycle. From the agreements themselves to the processes and technology that support them, Agiloft ensures that you can trust your CLM system to be accurate, efficient, and reliable. With innovative features like GenAI Prompt Lab and ConvoAI Document Q&A, you can streamline your contracting process and make informed decisions for your organization with ease.  

Join us for our December CLM platform tour to see how Agiloft can promote CLM confidence at your organization!