The contract is the most important instrument in a business relationship that defines the obligations of the parties involved. It’s common to see that whenever a business is done, the two parties enter into an agreement with the most common terms of engagement (forex, MSA), and then based on the MSA, multiple statements of works (SOW’s) could be executed.
Apart from this, there is a possibility of several amendments getting executed on top of a signed MSA or SOW. When you extrapolate the situation across several customers or vendors we are talking about a lot of signed documents and most likely all these documents are lying across multiple clouds or shared repositories unless the organization is using a document repository or a contract management system.
Not having visibility on how each of these documents are related to one another and further not having access to key information within these documents can be chaotic and can mean a reasonable risk to the organization.
Smart Contract Analytics Platform is built with a powerful AI and ML-based engine to understand the documents, identify and build the underlying relationship between documents and build a proper lineage apart from giving you access to important metadata.
For more information, refer to https://www.docskiff.ai