#USA #Santa Clara #Persistent Systems #Microsoft 365 #ContractAssIst

Persistent Systems Launches ContractAssIst

In a significant development for enterprise solutions, Persistent Systems has unveiled its latest product, ContractAssIst, an innovative contract management tool powered by Microsoft 365 Copilot. This launch, announced on January 15, 2025, positions Persistent as a frontrunner in digital engineering and enterprise modernization.

The Challenge of Contract Management

Many organizations face difficulties in managing their contracts effectively, especially given the multitude of agreements from various vendors. These complexities can lead to inefficiencies and lost productivity. Recognizing this challenge, Persistent Systems has developed ContractAssIst to streamline the contract management process, improving overall operational efficiency and reducing costs.

An AI-Driven Approach

Built on Microsoft Azure, this solution harnesses the capabilities of advanced AI technologies, including Microsoft 365 Copilot and Microsoft Teams. By leveraging these state-of-the-art tools, ContractAssIst enables enterprises to enjoy a unified, efficient handling of their contracts. The platform's robust architecture ensures secure data management, advanced search functionalities, and guaranteed compliance with regulatory standards. With powerful AIlike GPT-3.5 and GPT-4 employed via Azure OpenAI, the system offers enhanced analytical capabilities for contract review and decision-making.

Key Features and Benefits

ContractAssIst introduces a host of innovative features designed to address the prevalent issues in contract management:

• - Centralized Dashboard: Users can access all contract-related activities from a single dashboard integrated into Microsoft Teams.
• - AI-Powered Chat Support: The AI chatbot allows for conversational queries, providing suggestions in real time and thus reducing the time taken for communication.
• - Version Tracking and Comparison: Real-time tracking of contract versions and comparative analysis functionalities streamline the review process.
• - Instant Notifications: Automated alerts keep teams updated about contract statuses, approvals, and required actions.
• - Reduced Communication Overhead: Expect a staggering reduction of up to 95% in email communication concerning contract discussions.
• - Time Savings: On average, users can save 20–25 minutes per day thanks to simplified workflows.
• - Cost Efficiency: The platform aims to lower annual licensing fees, offering significant cost savings for enterprises.

Quotes from Leadership

Sandeep Kalra, CEO of Persistent Systems, emphasized their commitment to innovation, stating, "At Persistent, our AI-led, platform-driven approach is central to solving complex enterprise challenges with practical, scalable solutions. ContractAssIst is a perfect example of how we leverage innovative technologies to reimagine complex tasks such as contract management."

On the collaboration with Microsoft, Sangita Singh, General Manager of ITES, Microsoft India and South Asia, remarked, "By harnessing the transformative power of AI, ContractAssIst represents a significant advancement in contract management. This solution showcases how our partnership creates intelligent and secure solutions, enhancing business operations around the globe."

About Persistent Systems

Persistent Systems is recognized globally for delivering digital engineering and enterprise modernization solutions across numerous industries. Employing over 23,200 professionals across 19 countries, Persistent is dedicated to fostering innovation and ensuring client success. The company’s diverse service portfolio includes AI-enabled software engineering, data analytics, intelligent automation, and cloud computing.

In recognition of its efforts, Persistent was honored as the "Most Promising Company" of the Year by CNBC-TV18 at the 2023 India Business Leader Awards, demonstrating its leadership in driving technological advancement while reinforcing its commitment to sustainability and responsible business practices. Since 2020, Persistent has achieved a 327% growth in brand value, making it the fastest-growing IT services brand according to the 2024 Brand Finance India 100 Report.

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For more details, please visit Persistent Systems.

Forward-Looking Statements
For risks and uncertainties related to forward-looking statements, please visit persistent.com/flcs.