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About TermScout
TermScout is an AI contract review software that facilitates instant insight into crucial contract data and expedited contract finalization. It leverages AI technologies to extract critical information from any contract almost instantaneously, substantially eliminating the typical turnaround times linked with conventional contract analysis approaches.
The software also provides access to a large collection of anonymized and aggregated negotiated contracts, alongside millions of data points derived from thousands of public contracts through TermScouts Public Contract Database.
This feature enables users to learn and create more effective contracts. The platform also incorporates Certify, a tool that assists in swift contract negotiations, enabling sales teams to conclude deals rapidly by overcoming hurdles in contract discussions.
Additionally, reliability and trustworthiness are established via the tool's presence in numerous companies and law firms across the globe, along with its hands-on application in tens of thousands of contract reviews performed monthly.
Furthermore, the AI tool's minimum accuracy is listed as 85%, and offers an opportunity to reach a 99% accuracy mark via Verification. The underlying vision driving TermScout is to realize a contracting process with zero friction allowing both parties to understand the terms of a contract much more effectively and efficiently.
TermScout key features
- **TrustMark™ Certification**: Provides independent verification of contract fairness and market alignment, helping to build trust in agreements.
- **Certify™ Contract Intelligence**: Analyzes and benchmarks contracts, generating market-based signals to streamline procurement and legal processes.
- **Reduction of Negotiation Friction**: Facilitates faster deal closures by providing objective proof of reasonable terms before redlining begins.
- **Benchmarking Against Market Data**: Compares vendor agreements to real-world standards, identifying deviations and ensuring consistent contract quality.
- **Accelerated Time to Signature**: Enhances the speed of contract approvals by establishing trust early in the negotiation process.
TermScout use cases
- Accelerates deal closure by providing TrustMark™ certification, which indicates contract fairness and market alignment.
- Reduces negotiation friction by offering objective proof of reasonable terms before redlining begins.
- Analyzes and benchmarks vendor agreements using Certify™, generating contract signals for informed decision-making.
- Helps procurement and legal teams triage contracts intelligently, identifying which agreements need escalation.
- Provides independent certification through TrustMark™ to enhance trust and speed in contract negotiations.
Useful for
- Accelerates deal closure by providing TrustMark™ certification, indicating fairness and market alignment of contracts.
- Reduces negotiation friction by offering objective proof of contract reasonableness before redlining begins.
- Analyzes and benchmarks agreements against real-world market data to identify deviations and improve decision-making.
- Generates contract signals that highlight critical issues early, allowing for faster procurement decisions.
- Supports legal, sales, and procurement teams in streamlining contract review processes and enhancing overall efficiency.
Price
- TrustMark™ certification verifies agreements for fairness and market alignment.
- Certify™ analyzes and benchmarks contracts to generate actionable contract signals.
- Pricing options include submitting agreements for TrustMark™ certification or using Certify™ for deeper analysis.
- The service aims to reduce negotiation friction and accelerate deal closures.
- TrustMark™ is designed for use by legal, sales, procurement, and finance teams.
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