Averum Contracts

Averum Contracts is an AI-powered platform designed to provide legal intelligence for handling contracts. It addresses the challenges faced by legal teams, procurement departments, startups, and finance teams who often spend significant time on manual contract review, risk identification, and management of contract portfolios. The tool aims to accelerate contract analysis, reduce the risk of missing critical terms, and improve overall efficiency in contract workflows.

The platform offers several core features. Its AI-driven drafting capability generates compliant contracts such as NDAs, MSAs, and SOWs in seconds, using customizable placeholders to tailor documents to specific requirements. Users can interact with the drafting process via chat, requesting edits or the addition of specific clauses. For contract analysis, Averum Contracts allows users to upload any contract and instantly receive insights, including extraction of parties, terms, obligations, and an assigned risk score. The analysis is completed rapidly, providing a summary of key findings and the ability to export full reports.

Averum Contracts also includes a side-by-side comparison feature, enabling users to compare contracts clause-by-clause. This helps in identifying differences in areas such as liability, payment terms, and termination clauses before finalizing agreements. Additionally, the Risk Sentinel and Playbooks feature provides continuous monitoring for hidden risks, customizable alerts for issues like unlimited liability or unfavorable auto-renewals, and automated workflows for risk management. The platform claims a high rate of risk detection accuracy and offers GDPR compliance, with hosting in Germany.

The tool is positioned for legal professionals, procurement teams, startups, SMBs, and finance teams, adapting to various workflows and organizational needs. Averum Contracts is delivered as a web-based service, as indicated by its online interface and sign-in functionality. Its focus is on transforming contract management from a manual, time-consuming process into a strategic, AI-augmented activity that delivers actionable insights and reduces operational risk.