TermScout

What is TermScout?

TermScout is an AI contract review software that offers swift insights into vital contract data and accelerates the contract finalization process. It utilizes AI technologies to extract crucial information from contracts near-instantaneously, significantly reducing the time associated with traditional contract analysis techniques. TermScout provides access to a vast collection of anonymized and consolidated negotiated contracts and millions of data points from public contracts through its Public Contract Database. The software includes a tool called Certify, which aids in fast contract negotiations and allows sales teams to finalize deals quickly.

Who created TermScout?

Termscout was created by a team led by its founder, who launched the software on January 5, 2024. The company offers AI contract review solutions to businesses and organizations, with a clientele including prominent companies like IBM, Qualtrics, NetApp, and more. TermScout aims to streamline the contract finalization process by providing swift insights into contract data, leveraging AI technologies to extract and analyze crucial information from a wide range of contracts. The software also includes tools like Certify for quick contract negotiations, catering to diverse teams from enterprises to smaller organizations and individuals.

What is TermScout used for?

• Extracting crucial information from contracts near-instantaneously
• Facilitating swift contract negotiations
• Improving contracts through the Public Contract Database
• Reviewing any type of contract
• Assisting in contract negotiations
• Reducing turnaround times for contract analysis
• Creating effective contracts with database insights
• Achieving high accuracy levels in contract analysis
• Assisting sales teams in contract negotiations
• Checking public contracts

Who is TermScout for?

• Lawyers
• Sales teams

How to use TermScout?

To use Termscout effectively, follow these steps:

1. Access TermScout: Visit the TermScout website and click on the "Get Started" button to begin the registration process.
2. Select Plan: Choose between the Basic, Pro, or Premium plan based on your requirements.
3. Explore Features: Familiarize yourself with TermScout's key features like the Public Contract Database, Certify tool, and customizable playbooks.
4. Contract Review: Upload your contracts for review and let TermScout's AI technology swiftly extract crucial information for analysis.
5. Contract Improvement: Utilize the insights from TermScout, including anonymized and aggregated negotiated contracts, to enhance your own contracts effectively.
6. Collaboration: Add additional Scout Seats for collaborative efforts at $49 per user per month to create a seamless team environment.
7. Enterprise Solutions: Consider the Enterprise Plan for teams of 3 or more, benefiting from bulk pricing and custom playbooks tailored to your specific criteria.
8. Cancellation: Monthly subscribers have the flexibility to cancel anytime, ensuring a hassle-free experience.
9. Clientele: Gain confidence from TermScout's association with reputable companies like IBM, Qualtrics, and NetApp.
10. Accuracy and Speed: TermScout offers a minimum accuracy level of 85% with the potential to reach 99% accuracy using the Verification feature. The AI review process typically takes 5-7 minutes.

By following these steps, you can leverage TermScout's advanced AI contract review capabilities to streamline your contract analysis and negotiation processes effectively.