Automated Contract Data Extraction & Abstraction

Let Artificial Intelligence Handle the Post-Signature Phase

Onit’s ExtractAI software uses artificial intelligence (AI) to extract and obtain usable data from executed, legacy, and third-party paper contracts. In the post-signature phase, ExtractAI applies practical AI to data extraction projects and produces higher quality data than traditional tools. By adding an AI component to these data extraction projects, companies can drastically cut costs, reduce risk and save time.

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“We applaud them on solving one of the greatest challenges law departments face, how to keep pace with fast-moving business transactions while continuing to deliver consistent, high-quality legal work on contracts.”

MinterEllisonRuddWatts

Extract Data Quickly with AI

Artificial intelligence turns contract data into actionable information at scale.

Batch Review: Extract data from multiple legal documents at once for due diligence, applying contract updates, or for importing legacy contracts.
Repapering: Contract details and key terms can be easily amended or redlined due to regulatory, policy, or commercial changes or M&A activities.
Contract Abstraction: Identify key legal, clauses, terms, and details in documents such as contract agreements for easy analysis and management.
Audit Compliance: Automate large-scale legal contract review during regulatory changes and export relevant details to .CSV reports and in-document notes.
Due Diligence: Automate the batch review of contracts for routine legal due diligence, making time for higher-value M&A tasks.
Legacy Contract Migration: Legacy contracts metadata can be rapidly analyzed to extract critical dates, terms, and clauses to assist in the import.
Contract Lifecycle Management Integration: Seamlessly integrate ExtractAI into your Onit or third-party contract management system for AI-assisted workflows.

Numerous Use Cases

Third-party paper import, contract migration, contract repapering, lease abstractions, and workflows.

Enhance Visibility

Extracted metadata and clauses can be imported into any contract or enterprise application.

Reduce Risk

Use AI to ensure all contracts are compliant and proper due diligence is achieved.

Lower Legal Costs

Enables legal to save time, increase capacity, re-align legal resource, and reduce legal work.

Simplify Contract Data Extraction with Artificial Intelligence

ExtractAI employs artificial intelligence to empower companies with enhanced third-party paper import, contract migration, contract repapering, lease abstractions, and workflows. Extracted key metadata and clauses can be imported into any contract lifecycle management (CLM) system, such as Onit CLM, or other enterprise applications.

The Power of the Platform

Onit ExtractAI is built on the industry’s leading artificial intelligence platform, Precedent. The Precedent intelligence platform brings together machine learning and natural language processing to empower the organization with a platform that reads, writes, and reasons like a lawyer.

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ExtractAI

ExtractAI Resources

Lexology - Contract AI: A Checklist for Every Phase of Contract Lifecycle Management

Onit AI Overview

ReviewAI: Improving Productivity and Efficiency with AI-Assisted Contract Review and Drafting