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When it comes to identifying risky clauses - even seasoned tender analysts can sometimes overlook a problematic clause or a non-standard sentence or word. Complex, Big project bidding process involves reading multiple documents of 1000s of pages each. This huge manual reading activity is highly error prone. At the same time this process is so critical for correct costing and timely bidding. Failure to identify problematic contract clauses can put the financial well-being of the entire company at risk. To mitigate against this risk, companies need to establish effective processes and procedures which require a thorough review of the contract before they submit the bid.
Botminds can process 1000s of pages of tender spread across multiple documents in few seconds. Immediately identified the risky clauses and extracts the reason behind the risk from the clauses for review. In addition to identify clauses and risk terms, Botminds AI can auto-assign risk scores based on its past learning, specific to the organization risk profile. Automate the entire process with different team working on the same tender document in reviewing output from Botminds AI. Generate downloadable tender information sheets with clauses & key terms that link back to the original document location. Subject matter experts can validate extracted clauses side-by-side with the original document.
Say goodbye to delayed and stressful bid competition.
Streamline process across business units by eliminating risk subjectivity of tender handlers.
Shrink hours spent on manual identification of critical clauses.
What is risk is very specific to your org/department. Botminds AI can learn fast.
See Botminds Unified platform in action