Onit Documentation

CLM Spring Release 2021

by Christina Moore Updated

What's New

Review AI

The ReviewAI app integrated into Onit CLM gives businesses the AI-powered insights they need to optimize their contractual negotiations. This enables businesses to:

  • Consistently negotiate the best possible terms and outcomes
  • Reduce time spent manually authoring and reviewing lengthy contracts
  • Avoid repeating mistakes due to reusing language from suboptimal contracts
  • Insure compliance, even for third-party contracts
  • Benefit from contract best practices across the organization
  • Speed up the negotiation process by providing the right insights at the right time

ExtractAI

The ExtractAI application integrated into Onit CLM harnesses the power of artificial intelligence to automatically digitize legacy and third-party documents and accurately extract their attributes and clauses directly into the Onit CLM application. With the help of this integration, businesses can:

  • Quickly process legacy and third-party contracts at scale while reducing risk and improving performance
  • Improve the accuracy of attribute and clause extraction
  • Reduce cycle-time and eliminate errors by automating contract review process
  • Increase business velocity and avoid risks with better contact visibility
  • Benefit from redlining, versioning, approval rules, and workflows
  • Respond to contract queries quickly during mergers & acquisitions or throughout phased rollouts of Onit CLM

Initial Features of ExtractAI

  • Leverage the power of Precedent's AI to extract data and clauses from 3rd party paper to easily create and populate a CLM record.
  • Leverage the power of Precedent's AI to extract data and clauses from contracts executed outside of the system to easily create and populate a CLM record.

DocuSign Enhancements

  • Onit users leverage the DocuSign UI to preview what is being sent for signature and to place signature tags in the appropriate place.  
  • Onit CLM users are able to edit the DocuSign envelope directly from the CLM record.  
  • Onit CLM users can easily cancel a DocuSign envelope from the CLM record.
  • Onit CLM users will be able to access the DocuSign interface directly from the CLM record in order to see the status of the transaction

Resolved Issues

  • Adobe Sign bades and DocuSign badges now select "Restrict badge run to once per name" by default.
  • Liquid issues in Out of the Box DocuSign "Hook" Action have been resolved.
  • Adding Amend To relationship will no longer remove existing Contract Hierarchy Records.
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