Introduction:
SpotDraft’s VerifAI is an AI-powered contract review tool designed to help legal teams and businesses of all sizes review contracts faster, reduce risks, and ensure compliance. Whether you're evaluating SpotDraft for the first time or you're an existing user ready to leverage the power of AI, this article will provide you with a comprehensive overview of VerifAI's capabilities.
What Problems Does VerifAI Solve?
Manual contract review is often time-consuming, expensive, and prone to human error. VerifAI addresses these challenges by:
- Reducing Review Time: AI automates the initial review process, allowing your legal team to focus on more strategic tasks.
- Improving Accuracy: AI algorithms consistently apply your pre-defined standards and identify deviations, minimizing the risk of overlooking critical clauses.
- Ensuring Compliance: VerifAI helps ensure that all your contracts adhere to your internal policies, legal requirements, and industry best practices.
- Scaling Legal Expertise: VerifAI democratizes legal knowledge within your organization, empowering more team members to understand and manage contracts effectively.
VerifAI Plans
VerifAI comes in two plans - Personal and Teams.
VerifAI Personal is a standalone Ms Word plugin (launched in Oct 2023).
VerifAI for Teams is a powerful new experience for SpotDraft users (launched in April 2025). It offers an embedded experience with SpotDraft CLM and unlocks workflow automation.
Key Features of VerifAI:
- AI-Powered Contract Review: VerifAI uses advanced artificial intelligence to automatically analyze contracts and identify key clauses, potential risks, and deviations from your defined standards.
- Customizable "Guides" (Playbooks): Create custom "Guides" that act as your contract review playbooks. These Guides contain a list of guidelines (rules) specific to your business needs and contract types.
- Deviation Detection: Easily identify clauses within a contract that deviate from the guidelines established in your VerifAI Guides.
- Collaboration & Reporting: Share review results with your team to gain insights into your contract portfolio.
- Integration with SpotDraft Workflows: Seamlessly integrate VerifAI into your existing SpotDraft workflows to automate contract review from the moment a contract is created.
- Ask AI - Ask open ended questions about any contract in plain language and get contextual answers grounded with accurate sources without even reading the contract.
Who Can Benefit from VerifAI?
VerifAI is valuable for:
- Legal Teams: Automate routine contract reviews, focus on high-value tasks, and ensure consistent compliance.
- Procurement Teams: Streamline vendor contract reviews, negotiate better terms, and mitigate risks.
- Sales Teams: Quickly review sales contracts, accelerate deal cycles, and ensure compliance with company policies.
- Finance Teams: Review financial agreements, manage obligations, and improve financial accuracy.
- Business Users: Anyone who needs to understand and manage contracts effectively can leverage VerifAI to gain deeper insights and reduce risks.
Getting Started with VerifAI:
If you're new to SpotDraft and interested in learning more about VerifAI, please Start your free trial here.
If you're an existing SpotDraft user and want to get access to VerifAI Teams, ask your Customer Success Manager today!