Princeton, New Jersey: December 17th 2018 — Zycus, a leading provider of enterprise contract lifecycle management in the cloud is extending their Contract Management software to include Artificial Intelligence Contract Parsing and Data Extraction. It demonstrates how neural networks in combination with machine-based learning help in-house legal teams to solve complex regulatory challenges, manage constant geopolitical change, and reduce risk.
“With our integrated and expanded AI approaches, Zycus iContract drives increased productivity and effectiveness in deriving useful information from legacy and unstructured contract data-stores. Or in more business friendly terms, Zycus iContract enables legal and compliance teams to quickly and accurately assess the state of their contract repository and create action plans to address non-compliance.” said Arthur Raguette, Vice President, Zycus.
“The expanded use of neural networks as a complement to our established machine based learning and natural language processing algorithms has yielded even higher levels of initial and recall accuracy.” Says Digesh Panchal, Zycus’s Vice President. He continues to remark “While no AI solution may have perfect results every time, we have reached demonstrable levels of accuracy that consistently perform.”
Zycus’s Contract Lifecycle Management is an end-to-end contract management solution which reduces creation cycle time, centralizes contract storage, and tracks compliance across multiple dimensions. Zycus iContract’s integral External Party Portals and Request Portals, when combined with CRM and ERP integration delivers streamlined contract management with Artificial Intelligence driven contract parsing and predictive risk analysis.
About Zycus: Zycus is the new division of Verdantis Inc. and is focused on delivering robust, scalable user optimized solutions for enterprise Legal and Sales departments. Proven, scalable, cloud-deployed workflow and compliance engines leverage Artificial Intelligence and Learn by Example configuration to enable Zycus Contract Management to be robustly and rapidly provisioned into today’s complex landscapes. For information on Zycus, visit www.zycusicontract.com.