Software that uses artificial intelligence to simplify contract data extraction.
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.
Artificial intelligence turns contract data into actionable information at scale.
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.
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.