#United States #Santa Clara #Persistent Systems #Microsoft 365 #ContractAssIst

Persistent Systems Introduces ContractAssIst

In a groundbreaking development, Persistent Systems has unveiled ContractAssIst, an advanced AI-driven contract management platform developed in partnership with Microsoft. This revolutionary solution aims to streamline contract workflows and enhance collaboration, leveraging the power of Microsoft 365 Copilot, Microsoft Azure, and Teams.

Addressing Enterprise Challenges

Many businesses today face significant hurdles in managing an influx of contracts from multiple vendors. This often results in decreased productivity and lost revenue potential. With the launch of ContractAssIst, Persistent Systems addresses these issues head-on. This solution not only simplifies workflows but also provides critical insights, thus enabling organizations to work more efficiently and effectively.

Key Features and Innovations

1. Seamless Integration with Microsoft Technologies

ContractAssIst is built on a robust technology framework utilizing Microsoft Azure. The integration with Microsoft Teams allows for real-time collaboration, fostering a productive workspace where team members can coordinate efforts effectively.

2. Enhanced AI Capabilities

The solution incorporates sophisticated AI models, including GPT-3.5 and GPT-4, harnessed through Azure's OpenAI Services. This enables advanced contract analysis through natural language processing, ensuring that contracts can be understood and managed more efficiently. Additionally, observability tools like Elastic and Application Insights provide transparency and scalability, ensuring a holistic contract management experience for enterprises.

3. Centralized Dashboard

ContractAssIst features a centralized dashboard within Microsoft Teams, consolidating workflows and simplifying user interaction. It boasts an AI-powered chatbot capable of answering queries and providing intelligent suggestions within group chats, drastically reducing delays and improving communication.

4. Real-Time Updates and Notifications

Users benefit from real-time version tracking, contract comparisons, instant notifications, and approval summaries. Such features significantly enhance productivity, with users expected to save an average of 20-25 minutes per day by utilizing the streamlined navigation capabilities of the platform.

Transforming Contract Management

ContractAssIst stands apart from traditional contract management solutions. Many existing systems rely on limited automation or require the use of standalone tools, which often leads to inefficiencies. In contrast, ContractAssIst’s deep integration with Microsoft technologies allows it to provide actionable intelligence and transparent, auditable workflows that are crucial for compliance and risk mitigation.

Noteworthy Benefits

• - Reduction in Communication Overhead: Companies using ContractAssIst can expect a 95% decrease in email communication related to contract management, streamlining communications and reducing clutter in team inboxes.
• - Cost-Effective: The solution also significantly cuts down annual licensing expenses for companies, making it a financially smart choice.

Executive Insights

Sandeep Kalra, the CEO of Persistent, emphasized the significance of their AI-led approach, stating, "ContractAssIst exemplifies how we leverage innovative technologies to transform mundane tasks into efficient solutions. Our partnership with Microsoft plays a pivotal role in achieving measurable efficiencies for our clients."

In a similar vein, Sangita Singh from Microsoft India asserted that the collaboration aims to leverage AI's power for innovation across various sectors, including contract management.

Conclusion

With its commitment to delivering innovative, AI-driven solutions, Persistent Systems continues to establish itself as a leader in digital transformation. ContractAssIst is poised to significantly alter the landscape of contract management, facilitating better collaboration and operational efficiency across diverse industries.

To learn more about Persistent Systems and its offerings, please visit www.persistent.com.