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What is iSpec DMS?

When drafting contracts, various sections can either be locked or modified, allowing for flexibility in tailoring the document. Each contract or project consists of a set of distinct "template terms," some of which can be adjusted to align with the unique needs of the project, such as duration or scope. However, certain terms are "locked" to maintain adherence to the organization's governance and risk management policies, including critical areas like indemnity, intellectual property rights, and insurance, which project teams cannot alter. This system eliminates the risk of overlooking necessary updates related to state laws and other regulations. Additionally, certain documents may include intricate compliance obligations, where failure to comply could lead to hefty fines, license revocations, or even criminal charges. Regulations such as Sarbanes-Oxley and HIPAA, along with federal and state laws, impose stringent requirements for privacy and security. Each clause and section in the template library is assigned a designated review period, and when this period expires, an automated email notification is sent to the responsible parties to prompt a re-evaluation. This ensures ongoing compliance and up-to-date governance practices throughout the lifecycle of the contract.

What is Klara?

Klara functions as an intelligent agent for contract evaluation and compliance at Kanerika, adeptly retrieving contracts and documents from your existing document management systems, such as SharePoint, while ensuring that any personally identifiable information is appropriately masked before conducting a thorough analysis. It carefully assesses each contract clause against your organization’s guidelines, pinpointing any discrepancies in essential terms like indemnity, termination, audit rights, and data ownership, while also providing a confidence score for each identified issue. In addition, Klara creates redline language that is consistent with your playbook for any clauses that require attention, which are then subject to review by a human for final validation. Moreover, all findings, decisions, and exceptions are meticulously documented to establish a comprehensive audit trail, and the judgments made by reviewers are fed back into the system, thereby improving the precision and effectiveness of subsequent contract assessments. This ongoing feedback mechanism not only enhances the overall review process but also ensures that compliance is upheld and that your organization’s standards are consistently met, resulting in a more reliable and efficient workflow. Ultimately, Klara represents a significant advancement in the way organizations manage their contractual obligations and compliance efforts.

Media

Media

No images available

Integrations Supported

Additional information not provided

Integrations Supported

Additional information not provided

API Availability

API Availability

Pricing Information

$29/m/u
Professional $99/m/u
Enterprise on quotation
Free Trial Offered?

Pricing Information

Pricing not provided

Supported Platforms

SaaS

Supported Platforms

SaaS

Customer Service / Support

Web-Based Support

Customer Service / Support

Web-Based Support

Training Options

Documentation Hub
Online Training
On-Site Training

Training Options

Not specified

Company Facts

Organization Name

Remy InfoSource

Date Founded

2004

Company Location

Singapore

Company Website

www.remy-is.com

Company Facts

Organization Name

Kanerika

Date Founded

2015

Company Location

United States

Company Website

kanerika.com

Categories and Features

Document Management

Access Controls
Archiving & Retention
Collaboration Tools
Compliance Tracking
Document Archiving
Document Assembly
Document Conversion
Document Delivery
Document Retention
Electronic Signature
Email Management
Forms Management
Full Text Search
Version Control

Categories and Features

AI Contract Review

Not specified

Contract Analysis

Not specified

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