Contract lifecycle management
AssigneeNB Ventures, Inc. DBA GEP
InventorsSubhash Makhija, Santosh Ganesh Dattatraya Bhat, Nikunj Natwarlal Vasa, Avishek Jana, Nishanth Koganti, Venkata Sri Harsha Vemuluru, Shivendra Singh Malik, Aditi Asthana
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Abstract
The present invention discloses a method, a system and a computer program product for Contract management. The invention includes optical character recognition for extraction of data attributes from the contracts. The invention further provides AI engine configured for processing a contract creation request through a bot based on analysis of a set of parameters associated with the request.
Claims38
A method of contract management comprising:
- receiving a contract creation request through one or more applications at a server;
- identifying and analyzing a set of parameters associated with the request;
- based on analysis of the parameters, determining one or more required data attributes and generating at least one data script configured to process the request by an AI engine;
- identifying position of the data attributes in a contract and creating a contract template for execution;
- and
- in response to receipt of changes in the contract template from one or more negotiating entities, identifying risk associated with the changes wherein a crawler is initiated to identify and process the changes through a bot for determining an action to be performed.
A Contract management system comprising:
- a server configured to receive a contract creation request through one or more applications;
- an AI engine configured to process the request through a bot wherein the AI engine processes a set of parameters associated with the request to dynamically generate at least one data script and determine one or more required data attributes associated with the request;
- a processor coupled to the AI engine enabling the processor to identify positioning of the data attributes in a contract and creating a contract template for execution;
- and
- a recommendation engine coupled to the processor and a crawler to identify risk associated with at least one change in the contract template wherein in response to receipt of change in the contract template from one or more entities the crawler identifies and processes the changes through the bot for determining an action to be performed.
A computer program product for contract management in one or more applications of a computing device with memory, the product comprising:
- a computer readable storage medium readable by a processor and storing instructions for execution by the processor for performing a method, the method comprising:
- receiving a contract creation request from an entity through one or more application at a server;
- identifying and analyzing a set of parameters associated with the request;
- based on analysis of the parameters, determining one or more required data attributes and generating at least one data script configured to process the request by an AI engine through a bot based on the parameters;
- identifying positioning of the data attributes in a contract and creating a contract template for execution;
- and
- in response to receipt of changes in the contract template from one or more negotiating entities, identifying risk associated with the changes wherein a crawler is initiated to identify and process the changes through a bot for determining an action to be performed.
Dependencies are inferred from the claim text.