Author name: Pramata

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. 

Today’s contract AI solutions will enable modern-day legal teams to focus on big picture strategies and leverage contract data as the business-critical asset it is.

From solo general counsels to heads of large legal teams, the role of “Legal” is changing. The value Legal brings to an organization isn’t simply in its ability to negotiate contracts – although that’s still extremely important – but true legal “leaders” bring so much more to the table.

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.

Request, generate, negotiate, sign, review, analyze, and so on… In an ideal world, contract workflows should move like a well-oiled machine from pre-signature to final execution, renewals, and beyond. And, if they don’t, the consequences can range from employee burnout to revenue loss. In this quick story (anonymized to protect the innocent victims of contract chaos) one VP of Legal Operations got his company’s contracts under control with the help of Pramata.