Clarative provides an AI automation engine focused on third-party risk management, automating vendor due diligence and continuous monitoring processes. The platform integrates vendor signals into a unified data fabric to track performance, manage contracts, and ensure regulatory compliance like DORA. This automation allows risk teams to scale operations by reducing manual work associated with SLA tracking and risk assessment.
Funding
Funding not disclosed
Founders
Product
Problem
Organizations struggle to maintain visibility into vendor performance and contractual obligations over time, leading to missed SLAs, uncaptured savings, and increased third-party risk. The manual effort required for contract review and ongoing monitoring is resource-intensive and prone to oversight.
Solution
Clarative provides an AI-powered platform designed for continuous vendor performance monitoring and contract lifecycle management. The system extracts critical commitments, Service Level Agreements (SLAs), and Key Performance Indicators (KPIs) from vendor contracts, creating a structured repository of obligations. It then actively monitors vendor performance against these defined metrics, flagging deviations and potential risks in real-time. This proactive approach enables organizations to ensure compliance with regulations like DORA, identify cost-saving opportunities such as rebates, and mitigate third-party risks before they impact operations.
Target Audience
The platform serves Vendor Risk Managers, Third-Party Risk Managers, Procurement professionals, Legal teams, and Compliance Officers who need to manage vendor relationships and mitigate associated risks effectively.
Features
- AI-driven contract ingestion and Natural Language Processing (NLP) for extracting key clauses, SLAs, and KPIs.
- Automated vendor performance tracking against contractual commitments using data integrations and synthetic monitoring.
- Real-time AI Risk Monitoring Agent to detect and prioritize vendor-specific risk events, including security incidents and adverse news.
- Parallel contract search functionality enabling rapid identification of specific terms, clauses, or compliance requirements across an entire vendor portfolio.
- Pre-built and customizable compliance frameworks, such as DORA, to assess contract adherence and identify gaps.
- Vendor Scorecarding module for quantitative performance assessment and relationship management.
- Audit trail generation for all risk event reviews and compliance-related activities.
- Integration capabilities with various data sources, data warehouses, and enterprise systems (e.g., Salesforce, SAP Ariba, Snowflake).
- SOC 2 Type II compliance and single-tenant architecture options for enhanced data security and governance.