In October of last year, SpotDraft, a contract lifecycle management company, announced the early-access release of its generative AI add-on for Microsoft Word, VerifAI, to facilitate attorneys in expediting the process of reviewing contracts. SpotDraft has now officially released VerifAI for general usage and is also offering a two-week free trial.
When VerifAI was initially introduced, it gained recognition for its generative AI capabilities. Users can specify guidelines for contract reviews in regular English and VerifAI checks the contracts accordingly. It also answers logical, open-ended, and contextual inquiries about the contracts as was pointed out previously.
In December, a demonstration video was released, featuring Rohith Salim, the CPO and co-founder of SpotDraft, explaining how VerifAI works.
Following the early-access phase, VerifAI was tested by more than 250 users from over 100 companies. The feedback from these users prompted SpotDraft to implement three functional changes to the product. They have also made the product fully self-serve, thereby discarding the requirement for users to schedule a meeting for onboarding. Users can now independently start using VerifAI from day one with minimal setup.
Udit Misra, the director of growth and product marketing at SpotDraft, highlights that VerifAI has been expressly designed to be easy to use and set up. Interestingly, the product does not necessitate prior SpotDraft subscription and is marketed as something that works out-of-the-box, with no training needed for users.
Currently, VerifAI is available for a free trial for two weeks, after which a subscription will cost $60 per month.
For a detailed description of VerifAI and how it operates, you can refer to the earlier posts and this link to the original article.