Source: Ontra
Ontra, the leader in contract automation and intelligence, today announced the availability of Ontra Synapse, an AI solution that automates the most critical legal workflows for private markets firms. Key capabilities include:
- Assessing the complexity of an agreement to optimize negotiations for speed, cost, and outcomes
- Surfacing relevant precedent to expedite negotiations and ensure consistency across contracts
- Summarizing contracts and analyzing terms to deliver data-driven insights and reports
- Native integration with Ontra’s Legal Operating System, a suite of SaaS applications that streamline fund formation, fund operation, and portfolio investment
Ontra Contract Automation, powered by Ontra Synapse, accelerates contract negotiation by up to 50% and decreases associated costs by up to 68%.
Automating contract negotiations for private markets agreements has been notoriously difficult to do well. Given nuanced contract language, industry-specific processes, and risks associated with mistakes, firms can’t afford to embrace technology that gets it “mostly right.” Ontra Synapse overcomes this challenge by combining the world’s leading repository of industry-specific contract data with an innovative combination of technology and human expertise. Ontra has processed over 800,000 agreements for private markets firms. Ontra Synapse anonymizes and aggregates this data and then feeds it into a series of proprietary AI models that Ontra has fine-tuned to perform tasks specific to the private funds industry.
Read full press release: https://www.ontra.ai/press-release/ontra-announces-ontra-synapse-ai-driven-contract-negotiation-and-management-for-the-private-markets/
