By Dave Fleming, Head of Strategic Partnerships

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The rise of artificial intelligence (AI) especially of generative AI over the past year has done more than just revolutionize operational efficiencies: It has also created opportunities for unprecedented alliances. There’s a growing recognition that advanced AI’s potential for delivering value to end users extends far beyond the reach of a single platform. 

As the Head of Strategic Partnerships of a company with the most advanced AI capabilities in the contract management sector, I’m confident of our strategic, value-focused approach to building truly synergistic partnerships. Those partnerships are an extension of one of our primary principles: To meet customers where they are, with the tools they actually need.

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Aligning with the right partners

The past twelve to eighteen months have been a veritable whirlwind for many businesses reacting to the advent of generative AI. But in the context of contract lifecycle management (CLM), savvy legal and contracting professionals have already been applying AI for at least three to five years.

The recent explosion of interest in AI has helped the market realize Evisort’s strength and experience in delivering contract AI solutions that are singled out by users for opening a window into their unique contracts and equipping them with easily-accessed analytics and insights.

To build on that, we've made it our mission to align with the right partners so that we can bring those tools to every company that can use them. Our recently announced partnership with Icertis is an example of that. 

This approach is a bit unorthodox, as many tech companies stay narrowly focused on their own products or services.  An AI-first company, we’re uniquely capable of integrating our technology with solutions from various partners–whether for contract management, procurement, sales, human resources, or risk management–to improve the value they give their customers.

In forming these partnerships, our criteria are straightforward yet deeply strategic. We look for organizations that don't just manage legal documents as a part of workflow or lifecycle management solutions but truly understand the value locked within them. Companies that prioritize the insights derived from, for example, vendor and sales contracts are good partners for us. They don't just see contracts as paperwork; they see them as opportunities for optimization and strategic advantage for their customers.

And, these partnerships are much more than ancillary to our direct-to-market efforts; they’re complimentary. As Head of Strategic Partnerships, it’s my responsibility to ensure our technology is part of the most impactful conversations in our industry, some of which happen outside our immediate purview. Whether through OEM partnerships, reseller agreements, or co-selling, we’re committed to exploring all avenues that bring our AI into more of those conversations.

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Meeting customers where they are

One challenge with large enterprises, such as Fortune 500 companies, is that they already have numerous software systems (over five, on average) for storing contracts. They don't need another one that does the same thing. 

That's why our philosophy is to meet customers where they are. If a large procurement customer wants to improve their existing contract management system (e.g., integrate Evisort with their legacy procurement software), we happily help them make that system better so users don't have to switch. 

This avoids the one-size-fits-all issue of traditional contract management products. Unlike those, we don't force-fit our solutions. We focus on what the customer needs and offer specific answers. So, wherever they have existing systems, we prioritize partnerships and integrations. This commitment to serving customers where and how they want to work allows us to serve them even if they're already using another product.

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Acting on our convictions

As someone deeply immersed in the tech industry, particularly at the intersection where AI meets real-world applications, I've always known our company holds a unique position. When we say we possess the most advanced AI capabilities in the industry, we don’t make this claim lightly; it’s a conviction that shapes everything we do, especially when it comes to partnerships.

After over 20 years working in the technology sector, I’ve seen how a transformative technology can play a pivotal role across a broader business ecosystem. That’s true of our own innovations in contract AI, so by focusing on partnerships that align with our vision, we're not only expanding our reach but also contributing to a future where AI-driven insights drive success across many industries.

Every day, technology is expanding the art of the possible. There are capabilities existing today that weren’t even imaginable only twelve months ago. Yet no one system can do everything, especially given the rate of innovation. This is why partnership is essential to meet the demands of those customers, so they can integrate-and-extend new capabilities into new and existing applications. And it’s why we’re adopting, implementing and embracing a best-of-breed approach by building out a diverse ecosystem of ISV partners.  

For example, our Contract Intelligence Platform can automatically analyze a contract based on a company's risk framework without needing human intervention. That's amazing to imagine. But it can already ingest and analyze invoices and receipts in 150 different languages from third-party systems and tell a customer how much they’re paying and to whom. And do it with over 95% degree accuracy straight out of the box.

A technology that powerful can change the boundaries of where we and our partners can go. Twelve months from now, we’ll be telling ourselves, “we didn’t even think that was possible,” but collaboration with visionary partners will be a big part of what makes it happen. That’s why there are some really exciting times ahead.