Automated Contract Review Workflow with AI Integration

Automated Contract Review and Drafting Workflow

1. Initial Contract Submission

1.1. Client Upload

Clients submit contracts through a secure portal.

1.2. Document Format Verification

Utilize AI tools like DocuSign to ensure documents are in acceptable formats (e.g., PDF, Word).

2. AI-Powered Contract Analysis

2.1. Data Extraction

Employ AI-driven tools such as Kira Systems to extract key clauses, terms, and obligations from the submitted contracts.

2.2. Risk Assessment

Implement AI solutions like LawGeex to analyze extracted data for potential risks and compliance issues.

3. Drafting Recommendations

3.1. Comparison with Standard Templates

Use AI tools such as ContractPodAI to compare the submitted contract against standard templates and identify deviations.

3.2. Suggested Modifications

Provide clients with AI-generated recommendations for modifications to enhance contract clarity and enforceability.

4. Client Review and Feedback

4.1. Review Interface

Clients access a user-friendly interface powered by Clio to review suggested changes and provide feedback.

4.2. Iterative Revisions

Facilitate an iterative process where clients can request further modifications, tracked through an AI-driven project management tool like Trello.

5. Finalization of Contract

5.1. Approval Workflow

Implement an automated approval workflow using Adobe Sign to finalize the contract once all parties agree to the terms.

5.2. Archiving and Compliance

Utilize AI tools to automatically archive finalized contracts in a secure database, ensuring compliance with legal standards.

6. Post-Execution Monitoring

6.1. Performance Tracking

Use AI analytics tools to monitor contract performance and adherence to terms over time.

6.2. Renewal Alerts

Automate renewal alerts and notifications for upcoming contract expirations using tools like ContractWorks.

7. Continuous Improvement

7.1. Feedback Collection

Gather client feedback on the workflow process to identify areas for improvement.

7.2. AI Model Training

Utilize feedback data to continuously train AI models, enhancing their accuracy and effectiveness in future contract reviews.