Enterprises struggle to answer everyday questions about their business contracts. Just determining if you have permission to sell a product or service, or change a price, can take hours, even days.
Knowable Essentials gives you immediate access to all your agreements, seen in the context of their contract families, so you can answer contract questions faster and more accurately, saving time and money while reducing risk.
The past informs the future.
Contract management has two components – new agreements and executed agreements. Companies that rely on tools like CLMs are only focused on the next negotiation, leaving out the critical role executed contracts play in the creation of new agreements, playbooks, processes, and templates. When organizations reverse focus and transform the billions of words of existing contract text into structured contract data, they can exponentially reduce the time it takes to search for and find related agreements — all while enabling their CLMs to achieve peak performance and eliminate the high probability of systemic failures.
of companies default to manual systems when dealing with contracts.
of companies struggle to even find their contracts when they need them.
of CLM deployments fail in phase one, and only 18% self-report success.
A system built on accuracy and trust.
Knowable Essentials ensures you are starting from a place of pristine accuracy and grows with you, taking a data creation (not text extraction) approach to capturing agreement terms that requires no data input from your team.
- Establish Contract Order: Convert your disparate repositories of executed agreements into a complete, accurate digital agreement database, making it easy to store, organize and find your contracts in less than a minute.
- View By Contract Family: Better manage your business relationships by seeing the impact of amendments and other ancillary agreements. When answers are no longer buried in a complex web of agreements, you can confidently answer questions that have always been a source of inefficiency, frustration, and risk.
- Search and Get Answers Fast: For searches that previously took hours, now you can find the right information with minimal search criteria that includes active status (active, inactive, and lapsing) as well as counterparty, effective date, and many other key terms. Knowable Essentials provides context for each agreement so you can review and analyze contracts at a faster pace and eliminate redundancies.
Chronologies show an MSA and a string of subsequent documents that may be related to it (and may or may not be related to each other).
Cluster analysis identifies documents between a company and a counterparty that may be in any number of unrelated contract chronologies but does not clarify relationship.
Family mapping shows the date sequence and hierarchy of related documents and shows the nuanced sub-relationships between and among family members.