Conga unveils AI-enhanced Contract Lifecycle Management solution

Conga, a pioneer and market leader in Revenue Lifecycle Management, is launching a new Contract Lifecycle Management (CLM) offering designed to run on the Conga Platform, adding a full SaaS alternative to its traditional Salesforce based user interface.

According to the company, the AI-enhanced solution is available on the Conga Platform, offering a CLM interface that can integrate with any CRM, ERP, or procurement platform.

Conga’s CLM with AI empowers businesses by mitigating risk, reducing contract creation to close time, and helping cut supplier costs. New state-of-the-art AI models increase accuracy and extract text and data from contracts and tables.

With Conga’s AI-enabled drag-and-drop bulk document import capabilities, customers save valuable time and create highly precise AI models in minutes, eliminating the need to train the AI, the company said.

This new Conga CLM provides unparalleled flexibility for customers by streamlining operations, eliminating internal silos, and connecting contract data and processes so departments can easily access the contract terms and data needed to achieve their goals. 

Conga CLM provides the following combination of features:

• Start delivering value faster by ensuring contract compliance while streamlining processes with pre-defined workflows, approval processes, and templates for faster implementation
• Greater accuracy and ability to handle larger volumes of contracts using AI
• Immediately extract and define custom provisions leveraging new large language models (LLMs)
• Risk scoring and suggestions to mitigate risk before or after signing when preparing to renegotiate
• AI that adapts to each customer’s business as it evolves based on their actions

“Conga CLM on the Conga Platform gives businesses the ability to manage contracts and access data in the systems they use daily while helping them improve performance,” said Grant Peterson, Chief Product Officer of Conga. “Our CLM not only helps accelerate contracting success across teams, empowering legal, sales, procurement, and finance to enhance visibility and make quick and informed decisions, but ensures compliance, while driving stronger results.”

Conga’s solutions deliver better contract outcomes with state-of-the-art data extraction, instant AI models, and legal data verification services to ensure the data businesses rely on is accurate and easy to access and report on. The ability to automatically connect contract data and processes across departments breaks down internal silos, empowering everyone to work where they want and access the information they need, according to Conga.

For more information about this news, visit  www.conga.com.