Persistent Systems, a global leader in digital engineering and enterprise modernization, has announced the launch of ContractAssIst, a cutting-edge AI-driven contract management solution developed in partnership with Microsoft. Built on the robust foundation of Microsoft Azure, Microsoft 365 Copilot, Microsoft Teams, and advanced AI technologies, ContractAssIst is designed to streamline contract workflows, foster collaboration, and reduce operational complexities, empowering organizations to enhance efficiency and optimize costs.*
Addressing Critical Business Challenges
Managing a high volume of vendor contracts remains a persistent challenge for organizations, often resulting in inefficiencies and lost productivity. ContractAssIst leverages Microsoft’s advanced technology ecosystem to address these pain points with precision and efficiency. By integrating Azure AI for secure data processing and compliance, ContractAssIst ensures organizations have access to advanced search capabilities and natural language processing (NLP) tools powered by GPT-3.5 and GPT-4 through Azure OpenAI Service.
The solution seamlessly integrates with Microsoft 365 Copilot and Microsoft Teams, providing teams with real-time collaboration tools and AI-powered insights. Additionally, observability tools like Elastic and Application Insights enhance scalability and ensure transparent operations, delivering a comprehensive contract management experience tailored to meet evolving business demands.
Key Features and Benefits
ContractAssIst simplifies and consolidates workflows within a centralized dashboard hosted on Microsoft Teams. Its intelligent chatbot feature enables conversational queries and provides actionable suggestions in group chats, significantly reducing manual effort. Key functionalities include:
- Real-Time Version Tracking: Monitor contract changes and updates instantly.
- AI-Driven Contract Comparison: Quickly identify discrepancies and variations.
- Instant Notifications and Approvals: Streamline decision-making with timely alerts.
- Enhanced Collaboration Tools: Foster teamwork with integrated communication features.
Unlike standalone tools or solutions with limited automation, ContractAssIst distinguishes itself through its deep integration with Microsoft technologies, providing businesses with real-time insights and actionable data. With transparent and auditable workflows, the solution enhances compliance, mitigates risks, and empowers organizations to optimize operations while making confident, data-driven decisions.
Also Read: AudioCodes Launches AI-Driven Intelligent Meeting Room to Revolutionize Hybrid Workspaces
Proven Impact on Business Operations
Organizations adopting ContractAssIst can expect tangible results, including:
- 95% Reduction in Email Communication Overheads: Streamlined collaboration reduces reliance on email.
- 20-25 Minutes Saved Per User Daily: Enhanced navigation and automated workflows improve productivity.
- Significant Cost Savings: Reduced annual licensing expenses through optimized resource utilization.
Executive Insights
Sandeep Kalra, CEO and Executive Director, Persistent: “At Persistent, our AI-driven, platform-first approach is critical to solving complex business challenges with practical, scalable solutions. ContractAssIst, developed in collaboration with Microsoft, is an example of how we are leveraging innovative technologies to reimagine highly manual tasks, such as contract management, with AI. This solution is the result of our deep partnership with Microsoft and our shared vision to drive the adoption of AI to deliver measurable efficiencies and tangible outcomes for our customers.”
Sangita Singh, Managing Director, ITES, Microsoft India and South Asia: “Our collaboration with Persistent harnesses the transformative power of AI to drive innovation across industries, including contract management. ContractAssIst, built on Microsoft Azure and powered by Microsoft 365 Copilot and Microsoft Teams, integrates Microsoft technology with Persistent’s platform-first approach to deliver intelligent, secure, and efficient solutions. Together, we’re enabling businesses around the world to modernize operations, improve collaboration, and achieve operational excellence.”