skritswap utilizes Natural Language Processing (NLP) and Machine Learning (ML) to simplify complex contract language into clear, accessible text, enabling users to understand and modify contract clauses efficiently. This technology helps contract managers and sales teams close deals 50-60% faster by reducing the time spent deciphering legal jargon.
Funding
$499K raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Legal contracts often contain complex jargon and convoluted language, making it difficult for non-legal professionals to fully understand the terms and conditions. This complexity slows down the contract review process and can lead to misunderstandings or missed opportunities.
Solution
skritswap uses Natural Language Processing (NLP) and Machine Learning (ML) to simplify complex contract language into clear, accessible text. The platform analyzes contract clauses and replaces jargon with simpler language and clearer formatting, enabling users to quickly grasp the essential information. By streamlining contract comprehension, skritswap helps contract managers, sales teams, and other professionals close deals faster and reduce the risk of misinterpretation. The AI-powered system identifies areas for improvement and suggests modifications to accelerate the contract lifecycle.
Target Audience
skritswap targets contract managers, sales professionals, customer experience teams, customer success teams, mid-market CEOs, and vendor managers who need to understand and modify contracts efficiently.
Features
- AI-powered contract simplification using NLP and ML
- Jargon replacement with plain language alternatives
- Automated identification of complex or unclear clauses
- Clearer formatting for improved readability
- Custom dataset built with proprietary data and the Edgar SEC dataset
- Internal data annotation tool
- Rule-based sentence splitting and list generation