Zoho Contracts and ChatGPT integration
With this integration, you can leverage the power of artificial intelligence to transform your contract management process. It reduces legal dependency, improves contract cycle times, and enhances compliance.
ChatGPT in contract management
- Simplifies building custom contract templates with an AI assistant to suggest clause languages.
- Reduces the risk of ambiguous contractual terms, with ChatGPT readily available to explain any clause language or contract details with a simple prompt.
- Translates key contract elements, such as clauses, introductory text, and closing statements, to regional languages. This helps localize contracts into multiple regional languages effortlessly.
- Streamlines obligation management with an AI assistant that discovers obligations in a contract.
- Summarizes contracts in simple language (non-legal terms) for better understanding.
- Identifies and suggests missing clauses in a contract.
Benefits of ChatGPT in contract management
Minimized risk of unfulfilled obligations
Faster and more accurate contract authoring
Accelerated contract revisions
Better understanding with translations to native languages
Reduced legal dependence and costs
Enhanced regulatory compliance
How the Zoho Contracts and ChatGPT integration works
Get clause suggestions
Contract admins can add new clauses with as many alternative languages as required to the clause library in Zoho Contracts. They can also add a new clause when creating or customizing a contract template. In these scenarios, they can use the AI assistant to get clause suggestions within the clause editor. These instant clause suggestions can cover various scenarios, including unforeseen situations or edge cases. They can be tweaked based on specific requirements, such as the degree of leniency and your industry, making your clauses comprehensive. These clause suggestions accelerate the creation of clauses and contract templates with improved accuracy and reduced legal dependency.
Translate contract elements
When creating or editing contract templates, contract letters, and managing clauses in the clause library, the AI assistant provides translation options. Contract admins can now translate the clause languages and other contract elements, such as the title, attachments, intro, and ending texts, into their regional languages. This helps localize contracts into multiple regional languages effortlessly.
Find missing clauses
Users can employ the AI assistant feature to see if any standard clauses are missing from a contract while drafting. This capability protects contracts across all aspects, and it also reduces delays during review processes, minimizes the risk of non-compliance, and improves consistency across all contracts.
Discover contractual obligations
Contract owners can use the AI assistant to quickly identify all obligations in their contracts. The tool helps identify obligations such as payments or delivery along with their deadlines, ensuring no missed obligations. Contract owners can assign, track, and manage these obligations using the contextual obligation management capability. With this streamlined approach, businesses can avoid oversights and mitigate business risks.
Summarize your contracts
The AI assistant comes in handy when contract owners want to provide a brief overview of an agreement with other stakeholders. Summarizing contracts in non-legalese terms helps involved stakeholders quickly understand the key points and stay informed about all critical terms and obligations.