A New AI Solution For Managing IT Contracts

Managing contracts can be an additional headache for midmarket IT leaders.

Between dealings with vendors, resellers, and compliances, midmarket IT executives can get overwhelmed managing contracts in addition to their day-to-day duties.

“Maximum productivity and reduced cost are crucial factors for these enterprises, as they have limited budgets to keep track of their contracts,” according to a report from Markets and Markets.

To address the demands of keeping up with contract management for midmarket IT leaders, AI is being touted as a solution by Persistent Systems.

The company, which specializes in digital engineering and enterprise modernization, recently announced its launch of ContractAssIst, an AI-driven contract management solution developed in collaboration with Microsoft.

ContractAssIst, leverages Microsoft Azure, Microsoft 365 Copilot, Microsoft Teams, and AI, according to a news release from Persistent.

Key features include:

"Contract management should be a strategic enabler, not an operational burden. Yet, midmarket businesses often struggle with inefficiencies, compliance risks, and manual bottlenecks that slow decision-making. AI is transforming contract management by shifting workflows from reactive to proactive, turning contracts into intelligent assets that drive better business decisions. By automating contract analysis, enabling real-time collaboration, and embedding compliance into every stage of the process, AI empowers organizations to move with speed and confidence,” said Dhanashree Bhat, chief operating officer at Persistent, in a statement to MES Computing.

“Studies suggest that AI can reduce manual efforts in contract review and drafting by up to 50% by 2025. Persistent’s AI-driven contract management solution, ContractAssIst, developed in collaboration with Microsoft, streamlines contract workflows, enhances collaboration and delivers timely intelligence to drive greater efficiency and smarter decision-making. As AI adoption accelerates, businesses leveraging intelligent contract management will be better equipped to ensure compliance and long-term success,” Bhat added.