Japanese shipping company ‘K’ Line has implemented a new cloud-based AI-powered Contract Intelligence Platform from Evisort, to assist in the management of contracts within its operations systems.
US-based Evisort’s platform allows contracts to be centralised without requiring migration, using AI to track and search metadata and provisions and enabling teams to draft, redline, approve, sign, report on, and renew contracts.
“We have invested a significant amount of effort in the management and risk control of the vast and diverse contract documents generated by global business operations. By utilising Evisort, we will improve operational efficiency by centrally managing contracts in the cloud,” ‘K’ Line said.
“It also works with other systems to optimise and standardise complex and fragmented end-to-end contract lifecycles, from contract creation and negotiation to approval and post-contract management, including reporting.”
“In addition, we will be able to recognise and manage contract related risks efficiently and effectively by Evisort with cutting-edge AI to enable immediate analysis of marine transportation and logistics specific contracts.”
The implementation of the system is part of a larger push to strengthen the company’s risk management and enhance its use of digital technology through a company-wide business process reengineering (BPR) project, outlined in ‘K’ Line’s management plan published earlier this year.
