Author name: Pramata

by Nimit Mehta, Partner, Bain & Company

Pramata’s Chief Solutions Architect, Tom Guhin, shares what he’s learned from his position deep inside the Contract & Legal Tech Industry for the last 10+ years, and how most companies are thinking about AI for legal teams all wrong. 

When Foster Sayers joined symplr as Vice President of Legal Operations in 2023, he saw an opportunity to take the healthcare technology company’s contract management to the next level. While symplr already had Pramata in place, Sayers recognized the potential to leverage generative AI capabilities to solve routine contract challenges that were consuming valuable time across the organization.

Disorganized contracts cost your business more than you realize. Contract chaos can silently drain revenue through overlooked price escalators and unenforced commitments, drive unnecessary spending via accidental renewals and duplicate vendors, and ultimately derail digital transformation efforts by undermining Contract AI initiatives. Discover how transforming contract management from static storage into a dynamic Knowledge Engine can eliminate these hidden costs and turn contracts into a strategic advantage.

In today’s fast-paced business environment, legal teams are under constant pressure to do more with less. The sheer volume of contracts that need to be reviewed, managed, and analyzed has pushed many legal departments to embrace artificial intelligence solutions. 

As an AI-powered speech intelligence company, Verbit knows the transformative power of innovative technology. JP Son, Verbit’s Chief Legal Officer, and his legal team were keen on finding a contract management provider who could solve their long-standing pain points with contracts, while demonstrating a clear commitment to incorporating the latest in AI technology to bring value to its clients.

When Managed Health Care Associates (MHA), the largest alternate site group purchasing organization (GPO) in the U.S., faced mounting challenges with their legacy contract workflow system, they knew it was time for a change. While the company had successfully used Pramata for post-signature contract management, its pre-signature workflow tool was causing significant disruptions across the organization. By adding Pramata’s pre-signature functionality and embracing its Generative AI powered solutions, MHA achieved end-to-end efficiencies across every part of the contract lifecycle. 

Contract management is already complex for multinational corporations. Manual processes, a lack of centralized systems and no way to report on performance can make it even more of a challenge. Learn how one Legal Ops Professional jumped over these contract management hurdles using Pramata.

Forget everything you think you know about contract lifecycle management (CLM) software. Pramata is the radically simple, radically different and radically powerful alternative to other CLMs.

It might sound counterintuitive, but one of the biggest driving factors for technological innovation is to make the world a better place for humans. After all, if we give technology the most time-consuming, the most difficult, the most boring and the most tedious parts of any task, we’re giving the humans involved more time and capacity back to do the parts of the job only they can do.