AI makes contract management more efficient and transparent

Organisations worldwide are under pressure to work more efficiently and transparently. "Contracts often represent a blind spot in this regard: a lot of information is recorded in documents, but it is not directly accessible or usable," says Dirk Jan. "AI in contract management helps to unlock that information and identify risks or obligations at an earlier stage. This is essential, especially in times of economic uncertainty and stricter laws and regulations."

"We ultimately apply NextAI throughout the entire contract management lifecycle, in which human checks also continue to play an important role," explains Dirk Jan. "We are deliberately building in phases, each time adding value to a specific part of the process. This approach ensures that users learn to work with AI in contract management in a natural way and immediately benefit from concrete advantages."

NextAI helps organisations gain immediate insight into their contracts. Important data such as duration, notice periods and amounts are automatically recognised and linked to clauses and conditions. This allows risks, obligations and opportunities to be identified earlier, enabling organisations to maintain control over their agreements.

NextAI identifies deviations, makes suggestions for improvement and highlights risky provisions. In doing so, it actively supports teams in negotiations and reviews, enabling decisions to be made faster and with greater certainty.

The impact? Fewer legal risks, lower operational costs and better-informed strategic choices. The link to the Business Spend Management platform means that purchase orders are filled automatically, KPIs are updated in real time and compliance checks are carried out. This not only saves time, but also delivers demonstrable value across the entire organisation.

“NextAI always works on the basis of proposals; the system asks the end user for confirmation before anything is adopted,” explains Dirk Jan. “It is important to remain in control, especially when it comes to contracts. As confidence in the technology grows, you can gradually move towards automation in the future.”

“We have made a conscious decision to implement nextAI in phases,” says Dirk Jan. “Each step focuses on a specific part of the Source-to-Pay process and is developed in close collaboration with users. This ensures that the technology is well suited to practical use.” We are not interested in adding AI for the sake of AI, but in achieving tangible improvements: less manual work, greater clarity and better support for decision-making.

"By incorporating the experiences from AP Automation, we are accelerating development across the entire BSM platform," he continues. "We have seen that combining recognition technology and process logic leads to immediate time savings and higher data quality. We are now continuing along the same lines.’'

Our Contract Management solution offers organisations structure and control over the entire contract process. From creating new agreements to identifying notice periods and monitoring contract performance, all steps are secured in a single central platform.

By using workflows and automatic notifications, we ensure that contractual obligations are not only recorded but also complied with. This limits risks and makes better use of opportunities.

Automating contract management with AI integrates with other solutions such as Vendor Management, allowing contract agreements to be directly linked to operational and financial reality. This creates a complete and reliable overview of current agreements, expenditures, and obligations.

"NextAI strengthens this foundation by reducing manual steps in recording and assessing contract data," explains Dirk Jan. "By intelligently integrating automatic contract analysis into existing processes, we add value without fundamentally changing the way we work." Users retain control, while benefiting from faster processing, better data quality and greater insight into the content of their contracts.