AI Powered Workflow for Efficient Contract Review Process

AI-Assisted Contract Review and Analysis

1. Initial Document Submission

1.1 Document Collection

Non-profit organizations gather contracts and agreements requiring review. This can include grant agreements, partnership contracts, and vendor agreements.

1.2 Format Standardization

Ensure all documents are in a compatible format (e.g., PDF, Word) for processing by AI tools.

2. AI Tool Selection

2.1 Identify Suitable AI Legal Tools

Select AI-driven products tailored for legal analysis, such as:

• LawGeex: Automates contract review by comparing clauses to predefined standards.
• Kira Systems: Utilizes machine learning to extract and analyze contract data.
• ContractPodAI: Offers a comprehensive suite for contract lifecycle management, including AI analysis.

3. Document Upload and Processing

3.1 Upload to AI Platform

Upload the standardized documents to the selected AI tool for processing.

3.2 AI Analysis

The AI tool analyzes the contracts, identifying key clauses, potential risks, and compliance issues.

4. Review of AI Findings

4.1 Generate Reports

The AI tool generates a detailed report summarizing findings, including flagged clauses and recommended actions.

4.2 Human Review

Legal staff review the AI-generated report, validating findings and adding contextual insights.

5. Recommendations and Action Plan

5.1 Develop Actionable Insights

Based on the review, create an action plan addressing any identified issues, including renegotiation strategies or compliance adjustments.

5.2 Communicate with Stakeholders

Share findings and recommendations with relevant stakeholders, including board members and program directors.

6. Implementation and Follow-up

6.1 Execute Recommendations

Implement the agreed-upon actions, such as contract amendments or further negotiations.

6.2 Continuous Monitoring

Utilize AI tools for ongoing monitoring of contract performance and compliance, ensuring alignment with organizational goals.

7. Feedback and Improvement

7.1 Collect Feedback

Gather feedback from the legal team and stakeholders on the AI tool’s effectiveness and the overall process.

7.2 Process Optimization

Refine the workflow based on feedback and technological advancements, ensuring continuous improvement in contract review processes.