CPSM, Director of America’s Solution Consultants
If the on-going pandemic has taught us anything, it’s a lesson in meticulous preparation with caution. Due to the current economic slowdown, businesses and teams are compelled to function at optimal efficiency and minimize losses. As the situation develops, more and more businesses are struggling to adhere to contracted terms and timelines, increasing risk and losses for companies.
Procurement teams world over, are taking on a mammoth task of risk mitigation, reviewing contracts to identify clauses that address extension, termination, exclusivity clauses, whether or not Force Majeure applies. The advancement of AI and BOTS in Procurement ensures that we don’t have to do this manually.
This session will demonstrate AI powered BOTs in contract management as part of Zycus Merlin A.I. Studio. These set of BOTs namely; the Contract Extractor, Contract De-risker and the Force Majeure coupled with the Zycus’ iContract module help users reduce risk, cut costs and free up bandwidth so one can focus on strategic activities.
Key Takeaways from this 45 minute session include: