Evisort named “Hot Vendor” in Workflow and Content Automation by Aragon Research

USA/Canada News

20
Aug
2021

Editor

Evisort, the leading provider of contract management and AI solutions, today announced it has been included in the list of “Hot Vendors” in the “Workflow and Content Automation” report by Aragon Research, Inc. 

Evisort’s intelligent contract management software uses AI to automatically pull out the most important information from contracts like expiration dates, automatic renewals, and key legal clauses. Evisort enables legal, procurement, sales, and teams across the enterprise to centrally manage contracts through a single pane of glass to create, negotiate, sign, and analyze agreements. Unlike other contract management solutions, Evisort offers a new way of managing and analyzing contracts using AI and no-code workflows, allowing any user to automate manual contracting processes without needing IT. 

By using AI, Evisort is able to help both small companies and global enterprises like Microsoft, BNY Mellon, McKesson, and Keller Williams future proof their businesses by first building contract standards and playbooks based on past contract data and then protecting profitability by eliminating manual data entry and minimizing risk. 

“We created Evisort because I was using my law degree to manually review and extract terms from thousands of contracts. It was not what I imagined I’d be doing when I signed up for law school. I thought there needed to be a better way so we set out to eliminate the tediously manual contract processes that increase risk, add costs, and slow deals for businesses. We feel that our inclusion in the Hot Vendor report is further validation that the market needs the new approach to contract management that Evisort delivers.” says Jerry Ting, CEO and Co-Founder of Evisort. 

“Our research shows that the contract management market is growing over 30% per year, it’s on fire because the majority of companies don’t have a solution in place, and those that do have terrible experiences with legacy vendors or point solutions, which requires months or even years to implement, don’t work with third party paper, and rely on outsourced human review to analyze contracts instead of proprietary AI. Evisort changes all of that with a cloud-based platform, an easy to use interface, and tools that make the contract cycle transparent and automate the approval process.” 

Evisort can be implemented in fewer than 30 days and out-of-the-box algorithms work with in-house and third-party paper, scanned, blurry, digital, and docs with tables - even if it hasn’t encountered those documents before. Evisort supports a wide array of contract types including sales, vendor, employment, and real estate contracts. Evisort pushes the expectations of what contract management solutions can do by allowing users to track new and non-standard contract information on the fly and train custom algorithms to identify unique provisions. 

Jerry recommends live testing all contract management systems to prove their technology works, “We think teams who deal with contracts have long been neglected from a technology perspective. So it’s understandable that many are skeptical about AI and what’s possible. That’s why we encourage anyone evaluating a new contract management process to do a demo with every vendor and make sure you actually see your contracts uploaded for the first time live. That’s the only way to see if the AI works.”