Switch from manual to automated and mitigate business risks with AI-enabled Contract Lifecycle Management Software on ServiceNow Read more about how Artificial Intelligence can change the face of manual contracting: https://aavenir.com/level-up-your-contract-analytics-with-visual-dashboards/

1. Contract Analytics
With Visual Dashboards on ServiceNow

2. Issues in Manual Contract Analysis
No means to fully track and monitor all contracts
Complexity in obtaining accurate, timely, and unbiased data due to manual processes
Failure to do correct analysis leading to non-compliance
Incorrect analysis may prevent from making informed decisions

3. Manual Contract management processes can
be:
● Tedious and expose businesses to risk.
● Time-consuming
● Error-prone
● Biased and incomplete
However, AI can help tackle issues of Manual
Contracting. Let’s take a look at the ways in
which AI-enabled Contract Analytics can tackle
the issues of manual contract management.
Tackling The Issues of Manual Contract Management

4. #1 Turn Data into Actionable Insights
Challenge
Large volume of contracts with varied unstructured data
Difficulty interpreting contract language
Complexity comprehending contract effects on future of business
Solution
Track and analyze all your contracts
Display key information in visual dashboards
Reporting of raw data in the format of graphs and bars
As per McKinsey, the contract risk can cost a company up to 9 percent of its annual revenues.

5. According to Aberdeen Strategy & Research, you can reduce the average contract approval
time by an unbelievable 82 percent with contract analysis.
#2 Map Contract Volumes and Top Vendors
Challenge
Ineffective mapping of contractual data
Increased contract approval time and tedious process
Lack of timely and precise findings
Solution
Identify and extract key metadata
Smart insights with visual representation of curated data
Helps reduce the risk of over-allocation of resources

6. #3 Prevent Revenue Leakage
Challenge
Risk of non-compliance
Increased risk exposure leading to several costs including legal
Solution
Automated contract extraction and risk analysis
Review of unstructured contracts to identify anomalies
Help fulfill the contractual obligations & preventing revenue leakage
As per IACCM, the cost of a standard, low-risk procurement contract from draft to signature
has gone up by 38% in 6 years costing almost $6,900.

7. 9.2% of revenue is lost by organizations resulting from poor contract management and
oversight.
#4 Gain Real-Time Insights
Challenge
Difficulty getting real-time insights
Time-consuming report preparation and data analysis
Lack of visibility leading to delayed performance analysis
Solution
Real-time complete visibility
Automated reports covering all aspects
Contract performance analysis

8. Based on IACCM studies, costs for a mid-complexity contract stands at $21,300 and high
complexity contracts run into hundreds of thousands of dollars.
#5 Reduce Cost Per Contracts
Challenge
Costs in multiple stages
Increasing costs due to larger manpower requirements
Increasing costs due to dynamic business environments
Solution
Reduction in man-hours
Reduction in cost per contract due to faster automated processes
Complete visibility on workload, cost per contract, and turnaround time

9. Get a Multi-faceted View of Deals

10. Free Demo Session
Get a live demo of Aavenir Source to Pay solutions to know how Aavenir can
address your enterprise's unique business challenges and goals.
We provide live demonstration for following Aavenir S2P solutions:
● Contractflow - Contract Lifecycle Management on ServiceNow
● RFPflow - Request for Proposal Management on serviceNow
● Invoiceflow - Account Payable Automation on ServiceNow
● Obligationflow - Contractual Compliance Management on ServiceNow
Visit: https://aavenir.com/demo/

11. Get Free Resources
Watch Webinar
Automate Sourcing
using RFx
Calculate ROI of
CLM Solution
Test Drive
Contractflow
Contract Analytics with
Visual Dashboards
E-book - Digitize
Strategic Sourcing
Calculate ROI
Free Demo Read Blog
Explore Now

12. Delivering Future of Work
www.aavenir.com
linkedin.com/company/aavenirinfo
contact@aavenir.com
twitter.com/AavenirInfo