Kontrad's smart contract solutions offer a SAAS platform to automate and streamline competitive procurement and multi-party negotiation processes. Kontrad offers advanced contract management, collaboration and evaluation tools to help project teams save time and money, while implementing best industry practices and reducing risks.

Kontrad accelerates documentation assembly through advanced natural language processing (NLP), which extracts and classifies the structure and content of template documents. This functionality simplifies the creation of new, project-specific documents by allowing project teams to quickly generate, access, and collaborate on a shared library, all while preserving the original templates. All RFP or contract documents are accessible to the project team from a single screen, ensuring easy access and streamlined workflow. Each document is assigned a 'document owner' responsible for reviewing, accepting, or rejecting suggested edits from other project team members, ensuring clarity and accountability in the document creation process.

Kontrad enhances the tendering process and multi-party negotiations by organizing extracted document contents into a matrix that captures all comments and suggested edits from third-party organizations. This setup simplifies the comparison and evaluation of positions, enabling efficient responses, acceptances, rejections, or alternative proposals. Additionally, Kontrad tracks open and closed items, offering a unique monitoring feature to ensure adherence to initial contract requirements and to record accepted deviations. While the procuring organization can compare all third parties' comments and suggestions on their documents, third-party organizations can only view their own threads unless set otherwise, ensuring privacy within a competitive tendering or multi-party negotiation context.

Incorporating comments from multiple parties, especially in multi-document contracts, can be lengthy and error-prone. Kontrad addresses this by converting reviewed contract documentation into a final agreement with the successful party or parties. Accepted edits are integrated into the final documents with a single click, while preserving the original tendered documents. Additionally, accepted comments are easily attached as an appendix to the final contract, providing a clear record of agreed positions and reducing the risk of future disputes.

In Kontrad, a Business Unit (BU) is a segment within an organization designed to group users for access to specific tenders and contract negotiations. This concept allows the organization to structure itself based on various criteria such as geography, product-service lines, or project-specific needs. Users within the BU can collaborate on documentation related to their tenders and negotiations, facilitating a focused and coordinated effort. BUs are separate from Legal Entities, which are the entities responsible for releasing tenders or entering into contracts. Multiple BUs can use the Legal Entities created under the organization. The BU concept in Kontrad captures the practical realities of how large organizations operate, allowing for effective management and collaboration within defined segments.

Kontrad leverages advanced artificial intelligence (AI) to enhance various aspects of contract and tender management. Using natural language processing (NLP), Kontrad extracts document contents and allocates labels, enabling the project team to create a playbook of typical clauses, requirements, and specifications. Upon the client's request, labels can be assigned a risk rating or score, allowing the procuring organization to define their risk profile and expected key performance indicators (KPIs). Third-party comments or suggestions are then assessed against this profile, providing an informed ranking to support decision-making. Additionally, machine learning and generative AI can assist in generating new contract documents and crafting responses to third-party comments and suggestions that accurately reflect the procuring organization's standard positions, improving efficiency and consistency throughout the process.