Use Intelligent Document Processing (IDP) to automate the process of scanning and extracting relevant data from contracts such as expiration dates, key terms, and clauses, and then use RPA to input that data into a contract management system. Use AI/machine learning (ML) to automatically flag potential issues or risks in contracts, such as compliance or financial considerations before they are executed. RPA bots can be used to track the contract through its lifecycle to send alerts of important events like upcoming expiration or renewal of contracts.This automation provides better visibility and control over contracts by creating a streamlined process for tracking and reporting on contracts. It also helps identify any potential risks or issues before it’s too late.
