Aavenir Boosts Sourcing & Contracting with Generative AI on ServiceNow

MCKINNEY, Texas - Nov. 10, 2023 - PRLog -- Aavenir, a trailblazer in integrated contract management solutions on the ServiceNow platform, today announced significant upgrades to its premier offerings, Aavenir Contractflow and Aavenir RFPflow. These advancements are set to revolutionize the Source-to-Contract domain.

The latest updates bring a new level of sophistication to negotiations and elevate the connected contract management experience, while also enhancing vendor performance metrics.

Aavenir Contractflow now leverages Generative AI to offer in-depth analysis of contract variations, aiding in risk reduction and ensuring adherence to contract terms. A pioneering feature introduced by Aavenir is the Generative AI-driven capability to generate dynamic and more secure contract clauses tailored to specific intents. This innovation minimizes clause deviations and related risks. These new Generative AI features build upon existing, popular functionalities like term and clause extraction, and an AI-enhanced Natural Language Smart Search.

In Aavenir RFPflow, the enhancements lead to significant cost reductions by introducing advanced and flexible pricing comparison and analysis tools. These improvements streamline the negotiation process, ensuring the best possible deals with suppliers. New features in RFPflow also include enhanced supplier evaluation tools, which compare supplier performance against existing contracts, obligations, and KPIs, facilitating more informed and cost-effective award decisions.

Sunil Masand, Senior Vice President of Product, remarked, "Aavenir possesses the capability to not only solve for today's CLM use cases with our proprietary and accurate AI models, but also continuously enhance their precision to solve for legal and procurement use cases of tomorrow - a unique advantage that will set us apart from the majority of CLM providers."

Jesal Mehta, CEO and Founder, commented, "Our meticulously designed solutions foster connected experiences across processes and departments within Servicenow, wherein Generative AI acts as a catalyst,  accelerating Sourcing and Procurement operations to drive efficiency and elevate overall business value."

For more detailed information on these innovative developments or to explore the cutting-edge contract management solutions offered by the Aavenir Suite, please reach out to our specialists.

About Aavenir:
Aavenir empowers organizations to maximize ROI with AI/ML-driven Source-to-Contract applications on ServiceNow. These include Sourcing Management, Onboarding Workflow Management, Contract Lifecycle Management, Contract Obligation Management, Accounts Payable Automation, and Collaboration Workflow using portals.

Visit our website: https://aavenir.com/

Contact:
Marketing & Communications Team, Aavenir
Email: contact@aavenir.com
Phone: +1-408-554-2656