Introducing dTrax - Deloitte’s AI-enabled Contract Management Solution
Using technology and AI to streamline contract processes
In this era of frequent regulatory changes, rapid technological advances and increased financial pressures, organizations are demanding more from their in-house legal departments.
Many of the critical issues faced by legal departments, including regulatory compliance, contract management, attracting and developing top talent and overall “doing more with less”, could be alleviated by prioritizing efforts in one area: investment in technological solutions that enable in-house departments to be proactive strategic decision makers and focus less on time consuming tasks. This analytic transformation is essential for companies to become an, insight driven organizations (IDO), putting data insights to work everywhere in the business, everyday.
dTrax is a configurable and customizable solution that saves legal departments time and resources by leveraging cutting-edge AI technology, legal subject matter expertise and analytics to simplify, automate and streamline the contractingprocess. This allows legal teams to serve the business faster and better while reducing the amount of time required to manage the contract process.
Deloitte’s proprietary end-to-end, turnkey dTrax solution is fully configurable for each client through a unique four-stage process:
Our scoping team, consisting of legal experts, product designers, and software developers use a unique in-depth preliminary scoping methodology that allows us to understand your unique business needs—and configure dTrax specifically to meet your requirements.
With its advanced AI capabilities, dTrax uses logic and machine learning to allow you to build first drafts of contracts, negotiate contracts, and execute contracts with a few clicks of a button. Our AI capabilities will allow you to comb through thousands of contracts, mining and visualizing the data contained within the contracts in configured dashboards, and house the final contracts in one central repository—allowing you to use your historical portfolio to create new contracts with a simple click of a button.
As new contracts are executed and existing contracts are digitized and stored in the dTrax system, users can access contracts quickly and easily, identify those with clauses that attract a certain risk profile or require renegotiation, allowing you to minimize risk by standardizing specific terms and parameters.
- Continued review with data insights
Because Deloitte offers dTrax as a managed service, we can help you drive continuable value from your contracts.. dTrax allows you to connect your contract data to other data sources in other parts of your business—providing deeper insights that uniquely position the legal department to be drivers of business.
Analytics and AI Technology as a "game changer"
Today, more than ever, there exists a tremendous opportunity for legal departments to drive AI-enabled technology solutions that work for your business and drive ongoing value for the business.
Begin your transformative journey today!
If you’re interested in learning more about dTrax - or would like to discuss a preliminary assessment —simply complete the request form and we’ll put you in touch with a Deloitte representative or contact the dTrax team at firstname.lastname@example.org.