Persistent Systems, in collaboration with Microsoft, has announced the launch of ContractAssIst, an innovative AI-powered contract management solution. This development aims to transform how businesses manage their contracts by optimizing operational efficiency, reducing costs, and improving collaboration among teams.
An AI-Powered Solution with Microsoft 365 Copilot
ContractAssIst leverages a robust set of Microsoft technologies, including Azure, Microsoft 365 Copilot, and Microsoft Teams, together with advanced AI models such as GPT-3.5 and GPT-4. Designed to address the challenges of tracking and managing large volumes of contracts, this solution offers unique capabilities such as:
- Simplified Workflows: Centralized contract management via a dashboard in Microsoft Teams.
- AI-Powered Assistance: An intelligent chatbot that responds to inquiries in real-time and facilitates decision-making.
- Contract Tracking and Comparison: Real-time versioning and automated alerts to enhance efficiency.
The solution stands out among other market tools by deeply integrating Microsoft technologies and providing real-time data-driven insights, ensuring regulatory compliance and reducing operational risks.
Key Benefits of ContractAssIst
Persistent and Microsoft assert that ContractAssIst not only simplifies contract management but also offers significant quantifiable benefits:
- Reduction in Operating Costs: Less reliance on emails, with a decrease of up to 95% in redundant communication.
- Time Savings: Users can gain between 20 to 25 minutes daily thanks to smoother navigation and automation.
- Efficiency and Scalability: Enhances productivity while optimizing annual licensing expenses.
Additionally, integrated observability tools like Elastic and Application Insights ensure the scalability and transparency of the solution.
Strategic Impact for Businesses
Inefficient contract management can lead to productivity losses and unnecessary costs. ContractAssIst is designed to eliminate these barriers by consolidating workflows and enhancing collaboration. This solution also addresses the specific needs of companies looking to modernize their operations and leverage AI to transform traditionally manual processes.
Sandeep Kalra, CEO of Persistent, stated:
“ContractAssIst is a clear example of how we leverage innovative technologies to solve complex challenges. This solution redefines contract management through AI, driving tangible outcomes and optimizing efficiency.”
Sangita Singh, General Manager of ITES at Microsoft India, added:
“Our collaboration with Persistent enables businesses to modernize their operations and achieve operational excellence with intelligent and secure AI-based solutions.”
A Step Further in Digital Transformation
ContractAssIst underscores the commitment of Persistent and Microsoft to digital transformation and AI integration in corporate environments. With its ability to reduce operational complexity and provide real-time insights, this solution is poised to become an indispensable resource for businesses across all sectors.
With over 23,000 employees and a presence in 19 countries, Persistent continues to lead technological innovation while maintaining its commitment to sustainability and responsible business practices.