Driven by artificial intelligence (AI), New Discovery automatically identifies key themes to highlight potential risk and compliance issues in complex documentation.
“Contract managers, proposal managers, quality managers, and program managers all need to identify risky language in documents,” said Fergal McGovern, Founder and CEO of VisibleThread. “New Discovery allows teams to easily investigate multiple documents and unearth misalignment or risky elements before it costs you a bid.”
Shining a light on risk in complex documentation
For proposal teams, missing a single Federal Acquisition Requirement (FAR) clause for a US Government contractor can render them non-compliant, while catching this type of error post-award can lead to scope creep and damage the profitability of their programs.
New Discovery leverages AI to illuminate these misaligned or risky elements before they become a problem. Additionally, automating the process of complex document analysis also removes the burden of the manual review process for time-strapped proposal, contract, and quality teams.
Companies can now quickly navigate content associated with key terms that can impact proposals or contracts based on industry-specific stipulations. Rich data visualisations help them identify and create search dictionaries to search for terms that are relevant to the success of their proposals or the compliance of their contracts.
McGovern said: “It identifies conflicting requirements and gaps in requirements for project and program managers; it supports legal and contracts teams in checking for consistency; and it creates alignment for proposal teams making sure they respond to each requirement. As New Discovery sheds light on potential misalignment across all documentation, the use cases are basically endless.”
The evolution of New Discovery
The new solution comes after 15 development sprints across 30 weeks, and a process of building on iterations developed over several years.
McGovern said: “In 2020, we road tested the mock-ups with some of our strategic accounts. Many of these customers had been with us close to 10 years, and we owe them a huge debt of gratitude for their support. These customers keep us grounded, making sure we deliver solutions that are genuinely useful.”
McGovern thanked the Engineering team and clients that were involved in the development of the project.
— ENDS —
Contact: For more information visit www.VisibleThread.com or contact Caoimhe Gaskin at email@example.com.
VisibleThread is a language analysis platform that helps organizations improve the efficiency, clarity and compliance of RFPs, contracts, and mission-critical business writing with quantifiable metrics.