TrustRadius Insights
Onit Review AI has proven to be an invaluable tool for users when it comes to formatting and reviewing confidential contracts and …
Overview
What is Onit ReviewAI?
Onit ReviewAI is an AI-powered solution designed to automate and streamline the contract review process. It is suitable for companies of all sizes, ranging from small businesses to large enterprises. This tool caters to legal professionals, law firms, in-house legal departments, contract managers, compliance...
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What is Onit ReviewAI?
Onit’s ReviewAI software uses artificial intelligence (AI) to draft, review, redline, and edit all types of contracts. Non-legal business users can automatically receive a reviewed, redlined, and approved contract via email or self-service portal. The ReviewAI Word Add-in designed for lawyers and…
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- No setup fee
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- Free Trial
- Free/Freemium Version
- Premium Consulting/Integration Services
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Product Details
- About
- Tech Details
What is Onit ReviewAI?
Onit ReviewAI is an AI-powered solution designed to automate and streamline the contract review process. It is suitable for companies of all sizes, ranging from small businesses to large enterprises. This tool caters to legal professionals, law firms, in-house legal departments, contract managers, compliance officers, and procurement professionals.
Key Features
AI-Powered Contract Review and Drafting: Onit ReviewAI uses artificial intelligence to automate and enhance contract review. Users can instruct AI through configurable playbooks to review contracts, assess risk, automate actions, and assign tasks. The AI-powered contract review helps identify and address contract risk, improve compliance, and save time.
Manage Contract Risk: Onit ReviewAI helps legal teams effectively manage contract risk. Users can assign risk weightings to specific issues in playbooks, accurately measure risk, and prioritize and route risky contracts based on their risk score. The solution allows users to filter risk during the contract review process, focusing on high-risk contracts.
Contract Compliance: Onit ReviewAI improves contract compliance by identifying potential compliance issues and ensuring adherence to legal and regulatory requirements. By automating the contract review process, it reduces compliance errors and improves contract governance.
Contract Negotiation: Onit ReviewAI enhances the contract negotiation process by providing insights and analysis on contract terms, clauses, and risks. It helps legal teams negotiate more effectively by identifying negotiation strengths or weaknesses. The solution streamlines the negotiation workflow, saving time and improving productivity.
Onit ReviewAI Technical Details
| Operating Systems | Unspecified |
|---|---|
| Mobile Application | No |
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- Business Problems Solved
Onit Review AI has proven to be an invaluable tool for users when it comes to formatting and reviewing confidential contracts and agreements. The software ensures that documents are processed efficiently, saving users time and effort. It has been particularly beneficial for lawyers, as it reduces manual steps involved in contract creation and allows them to focus on higher-level tasks where their expertise is needed. Users have reported a significant reduction in manual effort, up to 50%, resulting in faster processes and reduced mental stress.
The AI-powered virtual assistant feature of Onit Review AI has received praise from users as it eliminates the need for manual contract review, saving countless hours spent on reviewing clauses and terms. The software's AI engine learns from previous corrections, providing auto-corrections or suggestions based on commonly used terms and clauses, increasing user productivity. This aspect has proven to be especially valuable for users who were unsure of how to format contracts or agreements, as Onit Review AI provides the correct format and ensures accurate presentation.
A key business problem solved by Onit Review AI is the cost-saving aspect it offers. The software eliminates the need to hire a lawyer or allocate overtime for an employee to manually review documents. As a result, businesses can save significant expenses while still ensuring accurate contract processing. Additionally, users have found that Onit Review AI streamlines contract processes and reduces workload, allowing their businesses to run more efficiently overall. By automating repetitive tasks and providing intelligent suggestions, the software effectively reduces the burden on users and improves overall productivity.