Introduction

Stepping into the world of AI contract review? That’s a step in the right direction. These tools can lighten your contract workload, taking the grind out of sifting through legal documents. But before you rush in, it’s worth pausing to make sure you’re getting the best tool for your business.

Here are 10 smart questions to ask before you make your pick.

Read: AI vs manual contract review: Which is right for your business?

1. How easy is it to use?

The whole point of an AI tool is to make your life easier, not harder. Ask yourself (and the vendor): Is the tool user-friendly? Does it have a clean, intuitive interface? If you or your team have to spend hours just figuring out how to use it, that’s a red flag.

2. How accurate is the tool?

Accuracy is everything when it comes to contract review. You need a tool that can reliably spot key clauses, flag potential risks, and catch any inconsistencies. Look for tools that have a proven track record of accuracy—check out reviews, case studies, and ask the vendor for specific examples.

3. Can it handle the types of contracts we use?

Different businesses deal with different kinds of contracts. Whether you’re reviewing sales contracts, NDAs, supplier agreements, or something else, make sure the tool is designed to handle the specific types of contracts your business uses most frequently.

4. Is the tool customizable?

Your business isn’t one-size-fits-all, so your AI tool shouldn’t be either. Ask if the tool allows for customization—can you set specific alerts for the clauses that matter most to you? Can it adapt to the unique needs of your business? Customization can make a big difference in how useful the tool is for your specific situation.

5. Does it integrate with our existing tools?

You’ve already got a workflow in place, and you don’t want a new tool to disrupt that. Find out if the AI contract review tool integrates smoothly with your current systems, like your CRM, document management system, or project management software. Integration is key to keeping your processes streamlined and efficient.

6. What kind of support and training is available?

Even the most intuitive tools can have a learning curve. Make sure the vendor offers solid customer support and training resources. Will they help you get up and running? Do they offer webinars, demos, or one-on-one training? Good support can make or break your experience with the tool.

7. How secure is the tool?

Contracts are full of sensitive information, so security is a big deal. Ask about the tool’s security features—does it offer data encryption? How is your data stored? Is it compliant with regulations like GDPR or CCPA? You need to be confident that your data is safe and secure.

8. What’s the cost structure?

AI tools are meant to save you money, but you still need to keep an eye on costs. Ask about the pricing structure—do you pay per document, per user, or is there a flat fee? Make sure you understand what you’re paying for and how the cost fits into your budget.

9. What do other users say?

Before you commit, see what other businesses have to say about the tool. Check out reviews on sites like G2, Capterra, or Trustpilot. Look for patterns in the feedback—are there common complaints or high praise? Real-world user experiences can give you valuable insights.

10. Can I try before I buy?

Finally, ask if you can take the tool for a test drive. Most vendors offer free trials or demos—take advantage of these to see how the tool works in your environment. During the trial, evaluate how well it meets your needs: Is it easy to use? Does it accurately identify key clauses? Does it integrate with your existing tools? A hands-on trial is the best way to determine if it’s the right fit for your business.

Read: How to choose the best AI contract review tool for your business

How Cobrief can help with contract review

Reading your business contracts can feel overwhelming as an owner-manager of a small to medium-sized business. That’s where Cobrief comes in. Cobrief helps business owners and operators review their business-to-business contracts for legal risks.

Upload your contract to Cobrief's AI contract review software, click review and you’ll get a list of all the risks, in plain English. This helps you decide whether to sign, negotiate or reject the terms of your contract, or hire a lawyer. Think of it as a heat map for your contracts.

Get started here.

Conclusion

Investing in an AI contract review tool is a big decision, and asking the right questions upfront can save you a lot of hassle later on. By taking the time to evaluate your options and consider your specific needs, you can choose a tool that not only meets your expectations but also enhances your business operations.

With the right AI tool in hand, you’ll be better equipped to handle contract reviews quickly, accurately, and with less stress—leaving you more time to focus on what really matters: growing your business.