Since 2013, Aretec has served the United States government as an 8(a) federal contractor, developing data science platforms that streamline workflows from ingestion to deployment. We believe that data will power every industry, every community, and every country, and the ability to access the right information at the right time is the best way to ensure that the right decisions will be made.
But data science alone does not guarantee optimal decision making. Data science combined with Aretec’s proven technical expertise does. And one of the areas where we see the proof of that is in our automated contract lifecycle management services. By combining open-source tools, open standards, and experienced specialists, we can leverage the power of machine learning for artificially intelligent CLM solutions that bring efficiency and automation to federal agencies.
Partnering with Aretec for automated CLM services is easy, as Aretec is already pre-approved through a variety of government agency contract vehicles. We are a Chief Information Officer–Solutions and Partners 3 (CIO-SP3) contract holder, supporting task areas 1 through 10. Aretec is also an IT Schedule 70 (IT-70) vendor, as well as a U.S. General Services Administration (GSA) Schedule vendor.
Aretec’s core services for automated contract lifecycle management proceed from the CLM AI capabilities that we help our customers implement. We can provide AI services to support every step of the contract lifecycle, beginning with contract extraction and data cleansing to begin the contract drafting process, before proceeding to automated contract request and document generation. Once a draft contract is ready, our CLM AI services flag it for automated contract legal review, and upon execution, the CLM AI data services automate the monitoring of the contract and enforcement of contractual obligations.
These AI capabilities help to make the contractual process faster, without sacrificing accuracy or thoroughness. They improve service levels for our partner agencies by enabling a more self-service model and reducing costly and time-consuming legal touchpoints. And beyond that, they also improve the effectiveness of contracts by capturing and sending granular data points to a data warehouse and other internal back office systems for processing and outcomes-based analytics.
There is virtually no area in the contract management lifecycle where Aretec’s AI services cannot produce measurable efficiencies. In the contracting and procurement process, Aretec’s services help our government agency partners manage workflow approval, quickly develop self-service contracts, run reports that improve visibility of vendor obligations, report on performance, and quickly resolve issues. They also help to onboard vendors quickly and easily, helping to reduce spending and improve the agency’s top line.
Aretec’s data solutions can also significantly improve a government agency’s regulatory compliance and adapt to new policy mandates with minimal effort.
Every aspect of Aretec’s AI services is designed to give our government agency partners maximum visibility into the contract lifecycle management process with minimal effort. They provide improved reporting capabilities and user permission management that adhere to all appropriate security parameters, a robust approval workflow with easily customizable user performance dashboards, automated alerts for contracts, and clear visibility into contract data, including cycle time, stage, agreement type, department, and region.
Aretec CLM customers consistently show measurable positive impacts, including faster audit reports, improved contract accuracy, increased contract compliance, streamlined contract processing, a reduction in amendments needed after signature, and an increase in auto-renewed contracts.
Aretec lives by our motto of “Prosperity Achieved Through Performance Excellence.” To learn more about how we can help your government agency improve its contract lifecycle management process with AI-enhanced data services, download our capabilities statement here.