Evisort Introduces Industry's First Smart OCR AI with Multi-language Capabilities and Expands Clause Library to Accelerate End-to-end Contracting
October 24, 2022
Evisort debuts enhanced AI and expanded platform capabilities to make the contract lifecycle easier, faster and more reliable for global teams. Learn more.
Western Union and Evisort and win Value Champion Award by the Association of Corporate Counsel for product collaboration and innovation
SAN FRANCISCO, Oct. 24, 2022 -- Evisort, the no-code contract intelligence platform loved by legal, procurement, and sales operation teams worldwide, debuts enhanced AI and expanded platform capabilities to make the contract lifecycle easier, faster and more reliable for global teams. The improved user experience features enhanced Optical Character Recognition (OCR) technology, multi-language capabilities, and an expanded intelligent clause library for more efficient drafting and more confident negotiation.
Evisort's updated OCR addresses the historical issues that OCR technology industry-wide has struggled with, including deciphering handwriting, blurry text, tables, headers, footers, watermarks, and multiple languages. With these AI enhancements, Evisort's solution will empower customers to better manage global business contracts, including contracts in multiple languages. Evisort's expanded clause library will provide insights on data-driven preferred language and will eliminate the need to manually build a clause library.
"Evisort's AI-powered contract lifecycle management (CLM) capabilities support fast implementation and return on investment by reducing manual work required to ingest, analyze, and create contracts," said Amine Anoun, Evisort co-founder and CTO. "These recent advancements will enable users to draft and manage contracts more efficiently and confidently than ever, and we are excited to be on the forefront of innovation in this critical space."
"In addition to using Evisort's AI for managing our vendor contracts, Plug has leveraged the use of OCR and AI to accelerate the digitization of over 60 archived boxes worth of historical documents dating back to the early 2000s," said Joshua Klein, Director of IT for Plug, a green hydrogen leader. "Now, not only does Plug have a searchable historical digital archive, we have peace of mind and complete visibility into all contract data."
Evisort recently received significant recognition for its groundbreaking AI work. The Association of Corporate Counsel (ACC) recently named Evisort an ACC Value Champion for its partnership with Western Union. The Value Champion program spotlights successful law department value initiatives and collaborations between clients and their legal service providers.
According to Anoun, the recognition from the ACC highlights Evisort's value-focused management practices.
"In the Western Union partnership, we enabled our client to reduce spending, improve predictability, and achieve better business outcomes. We will continue thoughtfully building our AI capabilities to provide increased confidence in every step of the contract lifecycle management process," he said.
Additionally, Spend Matters, a solution intelligence source for procurement and supply chain professionals, recognized Evisort in its 50 Providers to Watch list spotlighting fast-rising companies that continue to develop innovative products propelling the procurement and supply chain market forward.
Evisort is the leading transformative business solution for contract lifecycle management and analysis. Powered by proprietary artificial intelligence (AI) trained on 11M+ contracts and billions of data points, Evisort's technology parses the nuanced context and meaning of legal language and helps operational teams scale faster, reduce costs, and deliver greater business impact. Headquartered in San Francisco, the company supports legal, finance, sales, procurement and IT organizations around the globe. For more information, visit www.evisort.com or connect with us on LinkedIn or Twitter.
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