Supply chain management tech provider JAGGAER is advancing its Autonomous Commerce strategy with its acquisition of AI-powered contracts analysis platform DocSkiff Inc.
The integration of DocSkiff into the JAGGAER ONE platform will enable organisations to intelligently extract, review and analyse contract information using artificial intelligence and machine learning.
“JAGGAER is transforming the way businesses conduct enterprise commerce by applying artificial intelligence and machine learning,” said Jim Bureau, CEO of JAGGAER.
“In light of the global talent shortage, organisations can no longer solve complex problems by applying more human capital. Using AI & ML, the DocSkiff solution can ingest contracts from a variety of disparate sources and holistically analyse them in a fraction of the time it would take a team of people,” Bureau explained.
He continued that the AI-powered platform can then highlight a variety of risks and opportunities, which can be managed by a central team.
“It’s an excellent example of applying AI where appropriate and impactful, and freeing people to do more strategic, value-added work,” he said.
DocSkiff’s advanced use of artificial intelligence, machine learning and natural language processing, as well as its scalability, make it a strong complement to JAGGAER’s existing Contract Lifecycle Management (CLM) solutions.
These intelligent technologies also have direct applicability to other areas of the JAGGAER ONE source-to-pay suite, beyond contracts, which the company plans to leverage within its Digital Mind offering.
Launched in April 2021, JAGGAER’s Digital Mind solution uses AI, machine learning and other advanced technologies to autonomously execute many of the repetitive, behind-the-scenes tasks required to facilitate enterprise commerce, as well as provides prescriptive recommendations to optimise business outcomes.
Related: JAGGAER drives Autonomous Commerce revolution
“JAGGAER and DocSkiff share a common vision insofar as we both recognise the immense opportunity to intelligently automate many of the resource-intensive tasks required to facilitate enterprise commerce,” said Siva Pullabholta, CEO & Co-founder of DocSkiff.
“Our solution will be an excellent complement to JAGGAER’s Autonomous Commerce strategy, and we’re excited to propel our customers to new heights on their digital transformation journeys,” Pullabholta said.
DocSkiff, renamed as JAGGAER Contracts AI, will be integrated into JAGGAER’s Contracts+ solution.
For JAGGAER customers, the acquisition is set to deliver faster and more efficient contract management. Existing DocSkiff customers will also benefit from access to JAGGAER’s comprehensive source-to-pay suite of solutions.
Contracts+ is an integrated component of the JAGGAER ONE suite of source-to-pay solutions.