AI-powered contracting tools are transforming IT procurement by automating contract analysis, streamlining vendor assessment, and reducing negotiation time. However, selecting the right solution requires a thorough evaluation of key factors such as integration with existing procurement systems, adaptability to legal frameworks, and AI transparency. This presentation will outline the journey from tool selection to successful implementation, highlighting critical considerations such as data security risks, scalability, and the tool’s ability to manage complex vendor agreements. Understanding how AI models process contract language and generate insights is essential for ensuring accuracy and efficiency. This session will explore the key criteria for choosing an AI contracting tool, common pitfalls to avoid, and real-world implementation challenges. In this session you will learn:
- How to evaluate AI contracting tools based on compliance, security, and integration capabilities to align with procurement needs
- How to assess AI-driven contract analysis for accuracy, transparency, and risk mitigation in IT vendor agreements
- How to implement AI-powered contract management while ensuring adoption and alignment with legal and procurement teams.
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