OutRiskAI vs contractSILO Detailed comparison features, price

OutRiskAI

OutRiskAI offers an automated solution for businesses, particularly Micro, Small & Medium Enterprises (MSMEs), seeking to identify and mitigate potential risks embedded within their corporate contracts. Utilizing advanced Artificial Intelligence, the platform analyzes contract documents to predict potential issues across various industries, ranging from finance to healthcare.

The tool focuses on delivering accurate risk predictions based on AI models trained on millions of data points. OutRiskAI emphasizes data security, employing up-to-date technologies to ensure user contract information remains confidential and protected throughout the analysis process.

contractSILO

contractSILO is a robust contract management platform designed to simplify and automate the handling of contracts for individuals and businesses of all sizes. Powered by AI, it enables users to securely store, organize, and retrieve contracts within seconds, while leveraging intelligent extraction to identify critical contract data.

The platform offers features such as reminders for contract renewals, detailed financial analysis, contract categorization, discussion capabilities, and strict security measures including encryption, 2-factor authentication, and GDPR compliance. User permissions and advanced filtering ensure efficient collaboration and contract oversight, accessible from any device with an internet connection.

Pricing

OutRiskAI Pricing

Paid

From $29

OutRiskAI offers Paid pricing with plans starting from $29 per month .

contractSILO Pricing

Freemium

From $50

contractSILO offers Freemium pricing with plans starting from $50 per month .

Features

OutRiskAI

AI-Powered Risk Prediction: Accurately predicts risks in business contracts using AI models trained on millions of data points.
Data Security: Employs the latest security technologies to keep contract data safe.
Wide Industry Coverage: Models can predict risks across a broad range of industries, including finance and healthcare.
Contract Uploads: Allows users to upload contracts for analysis (limits based on plan).
Contract Generation: Offers contract generation capabilities (limits based on plan).
Risk Analysis Limits: Provides a specific number of risk analyses per contract (based on plan).
Solution Suggestions: Offers potential solutions for identified risks (limits based on plan).

contractSILO

AI-Scan: Extracts key contract data automatically using artificial intelligence
Advanced Security: 256-bit SSL, 2FA, and encrypted storage with ISO 27001 data centers
Custom & Multi-Level Filtering: Filter and find contracts with customizable search criteria
Automated Reminders: Never miss renewals or key dates with in-app and email alerts
Financial Analysis: Monitor expenses and income with multi-currency and dashboard reporting
Contract Categorizing: Organize contracts with tags, hierarchy, and role-based grouping
Dashboards: Get at-a-glance visibility on contract status, expiries, and financials
Collaboration: User and team management, contract discussion, and permissions control
Unlimited Attachments: Store multiple files and versions for each contract
Contract Tracking: Track contract updates, login activity, and status changes

Use Cases

OutRiskAI Use Cases

Identifying potential liabilities in supplier agreements.
Assessing risks in client contracts before signing.
Reviewing partnership agreements for hidden clauses.
Ensuring compliance within service level agreements (SLAs).
Streamlining contract review processes for legal teams or business owners.
Mitigating financial or operational risks found in business contracts.

contractSILO Use Cases

Automatically extract and analyze key terms and dates from contract documents
Receive timely reminders for contract renewals, payments, and expirations
Securely store and manage all business contracts in one centralized platform
Enable teams to collaborate on contract review, discussion, and management
Generate financial reports and analyze income and expenditure across contracts
Quickly search and filter large volume of contracts for compliance or audit
Set role-based permissions to control contract access for team members

FAQs

OutRiskAI FAQs

Why do I need OutRiskAI?

OutRiskAI helps identify and mitigate risks in business contracts using AI automation, aiming to save time and prevent potential issues.
How can I get started with OutRiskAI?

You can get started by choosing a suitable pricing plan (Basic or Pro) or contacting sales for the Enterprise plan via their website.
How does OutRiskAI assess risks in corporate contracts?

The platform uses AI models, trained on millions of data points, to analyze contracts and predict potential risks across various industries.
What does OutRiskAI provide after assessing a corporate contract?

OutRiskAI provides risk analysis and suggests potential solutions for the identified risks within the contract, with limits depending on the chosen subscription plan.
Is my contract data secure on OutRiskAI?

Yes, OutRiskAI states they use the latest security technologies to keep user contract data safe.

contractSILO FAQs

What is contractSILO's AI-Scan feature?

AI-Scan automatically extracts and highlights important information from contracts, making review and management faster and more accurate.
Can I use contractSILO for free?

Yes, contractSILO offers a free version for personal use and freelancers with support for up to 50 contracts and essential features.
Is my contract data secure on contractSILO?

contractSILO uses 256-bit SSL encryption, two-factor authentication, and is hosted in ISO 27001-certified data centers in Germany to ensure top-level security.
What kind of reminders does contractSILO provide?

contractSILO sends automated reminders for contract renewals, deadlines, and other critical events via the dashboard and email.
Can teams collaborate on contracts within the platform?

Yes, contractSILO supports team and user management, contract-based discussions, and role-based permissions for effective collaboration.