Zefort is an AI-assisted contract database management tool. Zefort stands for ‘zero effort’ contract management because the platform enables smart access to key contract data with minimum hassle. Zefort features significantly improve legal & business intelligence and risk management functions in organizations.
Contract database technology is a valuable tool in supporting automated and effortless data governance. With Zefort, processing, indexing and picking out key details from any contract database becomes focused and precise.
In providing consultancy and implementation services on contract data management projects, we work in close collaboration with team Zefort. Together, we enable teams and organisations across the CEE region to optimize access to key contract data. Zefort is a cloud-based service that applies smart technology to receive, process and store any types of contracts with minimal effort from the client. Reach out to us to see how we help create value in legal service delivery with Zefort.
How to Use Zefort for Zero Effort Contract Management?
Depending on the specific need, you can use Zefort to quickly archive contracts (by sending an e-mail to your personal Zefort account) and keep them secure in the cloud for later search. Alternatively, you can use Zefort as a collaboration platform to actively manage, search and share contracts with a global team.
To make the most of zero effort contract database management, use this step-plan when deploying Zefort:
1# Specify the attributes (metadata) you wish to extract from your contract database
Depending on the use case, attributes may include information on the contract parties, expiration dates, service listings, payment obligations or other information. Metadata may include categories of attributes already used by the client or additional attributes to cover for current or future business cases. This specification stage requires close collaboration with the client to understand the actual use case and ensure an accurate search in the next phase.
#2 Use AI-based search engine to locate key information your contract database
Based on the specification agreed with the client, Zefort’s artificial intelligence (AI) searches through hundreds or thousands of client contracts. Artificial intelligence typically manages to automatically recognize a part of the metadata attributes with great precision. With some metadata, the Zefort system requires human expertise to make the final interpretation.
#3 Designate a human expert team to optimize results
Client projects focused on extracting contract data require professional expertise for an optimal outcome. Artificial intelligence is able to replace manual search to a considerable extent, but the final interpretation of metadata and search results must be made by humans who understand the context and the purpose of the exercise. For this phase, we typically work with an multidisciplinary expert team that includes client representatives and external consultants from InvestCEE and Zefort.
Zefort complements your existing processes and integrates with major document management systems and e-signature tools.
Once you have your contracts executed, Zefort saves and archives contracts digitally in one secure place with minimum effort. You get superb search and browsing capabilities, shared access and automatic reminders. AI-assisted processing makes contracts available on-demand to selected team members, enables rich searches and automation benefits, such as reminders. Here’s how to manage your contract database with Zefort:
Further inspiration on using Zefort: from our blog
In the blog post dedicated to a 5-Step Plan for Contract Data Analytics, we outlined the actual steps we advise clients to take to improve access to contract data, drive efficiencies in the contract life-cycle, and increase security of the signed contract databases. We have also shared insights on Getting Started with Contract Data Management? (Pick the Lowest Hanging Fruits!). You may also be interested in our best practice tips on Activating a Signed Contract (Passive) Database. Finally, here’s another step-plan to help your move From eSigning to Smart Contract Management.
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