Pramata’s Contract AI Helps Verbit Radically Transform Legal Workflow Processes

According to Verbit’s Chief Legal Officer, contract management tasks that previously took 30 to 45 minutes to complete can now be done in less than five minutes with Pramata

Pramata, the leading end-to-end contract management solution provider, today announced it has given Verbit, a leading AI speech intelligence platform, the ability to create measurable workflow efficiencies across its legal and sales departments. With Pramata’s tech-forward contract AI solution, Verbit’s legal team has drastically reduced the amount of time spent on tedious contract management tasks, now able to complete work as much as eight times faster than before. The Verbit sales team has also benefited from Pramata’s solution, gaining seamless self-service access to contract data via Pramata’s Salesforce integration features.

“Pramata has drastically improved productivity across our legal department. Contract management tasks that once took anywhere from 30 to 45 minutes can now be completed in less than five minutes. Instead of manually drafting contracts and contract amendments, we can automate the entire process with Pramata’s AI Drafting Assistant—it is, without a doubt, a contract management super power,” said JP Son, Chief Legal Officer, Verbit. “The Salesforce integration is just as powerful, making contract access seamless and ensuring everyone is working with the most current documents. Pramata’s accuracy and reliability are actually getting to a level we could only imagine just a year ago.”

Last year, Gartner predicted that, by 2027, 50% of organizations would leverage AI-enabled contract risk analysis and editing tools for supplier contract negotiations. At the time, the global research firm recommended procurement organizations that were looking to use GenAI solutions for contract management should, “Evaluate current partners and explore new vendors to identify those that will support the organization’s ambition.”

Pramata’s innovative approach to integrating GenAI into its contract management solution was a key factor in Verbit’s decision to implement Pramata’s platform, according to Son. He says that his team was keen to work with a contract management provider that could solve their long-standing pain points with contracts, while demonstrating a clear commitment to incorporating the latest AI technology.

“Not every CLM vendor was up to the task,” said Son. “With Pramata, we have so much more than just another CLM platform. We now have a true partner in our contract management efforts—a partner whose vision for AI-enabled contract management matches our company’s own forward-thinking approach.”

Son says the shared vision among Pramata’s leadership team, in addition to their expertise and extensive tenure, distinguished Pramata from other CLM vendors, along with its comprehensive GenAI strategy and innovative contract management features, including robust clause extraction capabilities and automated hierarchy contract organization capabilities.

“Verbit’s AI-powered speech intelligence platform is a shining example of what strategic GenAI implementations look like. Like Verbit, Pramata has been fully committed to incorporating AI into our technology in a meaningful way. It’s always inspiring when we have the opportunity to partner with a tech-forward customer whose approach to generative AI aligns with our own,” said Praful Saklani, CEO, Pramata. “Our primary goal has always been focused on building a contract AI solution that radically transforms the way legal, sales, and teams across the business work. Verbit’s results so far are proof-positive that we are achieving what we set out to do.”

Going forward, Son says his team will continue to expand its use of Pramata, with plans to add procurement implementation in the near future. For Son, Verbit’s partnership with Pramata enables the AI-powered speech intelligence platform to excel at the fundamentals of AI-implementations, while pushing the boundaries of what’s possible with the technology.

About Verbit

Verbit is the world’s leading verbal intelligence platform for speech-intensive industries, setting the standard for accuracy, efficiency, and affordability. Powered by the latest in AI technology, Verbit helps businesses, organizations and individuals of all sizes turn spoken audio and video into accessible and actionable text. With a global network of human experts and an ever-evolving AI engine, Verbit ensures exceptional results while scaling to meet any need. For more information, visit www.verbit.ai.

About Pramata

Pramata is leading the way in enterprise-grade contract AI. The Pramata next-gen platform gives organizations the power to use AI-driven contract management to solve business-critical challenges like stopping revenue loss, reducing vendor costs, accelerating the contract lifecycle and ensuring compliance—with contract AI that actually works. For over 17 years Pramata has been trusted by some of the largest companies in the world, including McKesson, ICE, AbbVie and Callaway Golf. For more information visit www.pramata.com.

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