Pramata and Deloitte Help Clients Apply Generative AI to Contract Analytics

SAN FRANCISCO--(BUSINESS WIRE)--Oct 1, 2024--

Pramata, a leading end-to-end contract management platform, today announced a new strategic alliance with Deloitte. The organizations’ mutual clients can leverage Pramata’s simple, Generative AI-powered contract management and analytics solution with Deloitte’s corporate Risk, Regulatory, and Forensic advisory services to increase visibility into contract data and hierarchies that can span multiple systems and business units.

Many organizations are seeking greater visibility into their contract data to drive greater efficiency, cost savings, risk management, and profit uplift. Yet, a recent report found that contract-related data in large organizations, on average, sits in 24 different systems. Managing such complex contract programs — much less maximizing the value of existing contracts during the post-signature phase — across such disparate systems can pose a formidable challenge.

“What if you had the power to improve the efficiency of your contract-related operations across traditionally siloed teams and gain deeper insights into key revenue levers? With new Generative AI-based solutions, you now have access to that power,” said Jessica Anderson, principal, Deloitte Transactions and Business Analytics LLP. “Contract data is often an overlooked source of extremely valuable information and contract management is critical to an organization’s health. Our new relationship with Pramata is about improving contract management to help clients drive better business outcomes.”

Praful Saklani, CEO, Pramata, added, “Organizations frequently leave value on the table by not fully understanding or leveraging their contractual relationships. For most companies, reliable data on contracts is either non-existent or unreliable. As the first Generative AI-enabled contract solutions platform, Pramata combines accurate contract data with the ability to build GenAI applications to boost their operational decision-making capabilities, automate routine tasks and vastly improve their bottom lines. Collaborating with Deloitte allows our clients to embed their domain experience, accelerate time to value, increase the precision of GenAI output and complement existing contract management efforts.”

About Pramata

Pramata is leading the way in enterprise-grade contract AI. The Pramata next-gen platform gives organizations the power to use AI-driven contract management to solve business-critical challenges like stopping revenue loss, reducing vendor costs, accelerating the contract lifecycle and ensuring compliance—with contract AI that actually works. For over 17 years Pramata has been trusted by some of the largest companies in the world, including McKesson, ICE, AbbVie and Callaway Golf. For more information, visit: www.pramata.com, LinkedIn, Twitter.

As used in this document, “Deloitte” means Deloitte Transactions and Business Analytics LLP, a subsidiary of Deloitte LLP. Please see www.deloitte.com/us/about for a detailed description of our legal structure. Certain services may not be available to attest clients under the rules and regulations of public accounting. Deloitte does not provide legal services and will not provide any legal advice or address any questions of law.

View source version on businesswire.com:https://www.businesswire.com/news/home/20241001939449/en/

CONTACT: Media Contact:

Kali Myrick

Activa PR for Pramata

kali@activapr.com

KEYWORD: CALIFORNIA UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: PROFESSIONAL SERVICES DATA MANAGEMENT TECHNOLOGY DATA ANALYTICS SOFTWARE ARTIFICIAL INTELLIGENCE

SOURCE: Pramata

Copyright Business Wire 2024.