With a very timely product launch, Pramata has released a Tariff Risk Analyzer, which uses a contract-focused AI Agent to help you understand and respond to the impact of supply chain disruptions caused by tariff changes. And we’ve certainly seen a lot of that happening recently…!
The Analyzer uses a company’s contract data to ‘calculate the impact of newly established tariff structures on supply chain business relationships and then provides recommended next steps to address tariff-related disruptions’.
So, what does it cover? Here are some key aspects:
‘Enforcement of contracts: Pramata’s Tariff Risk Analyzer ensures procurement teams can hold vendors accountable to their contractual obligations.
Proactive risk assessment: When tariff policies change or vendors attempt to invoke a price adjustment clause, the Tariff Risk Analyzer provides critical insights to enable real-time view of risks through portfolio-wide visualizations, identification of non-standard tariff clauses, missing tariff-protection language, etc.
Auto-identification of specific clauses: it doesn’t just search for keywords, it comprehends the legal and commercial intent of contract language – enabling the Tariff Risk Analyzer to automatically identify tariff-related provisions.’
It also offers ‘key insights on high- versus low-risk vendors, notice periods, missing protections’ and users can view contract renewal timelines and create charts highlighting risk distribution across vendor contracts. It also provides insights into when the organisation may have limited negotiation leverage due to proposed tariff-related price changes, they explained – which looks handy.
And in turn all of this connects to: ‘missed compliance deadlines, regulatory penalties, revenue leakage, and delayed contract approvals to impaired business decisions, litigation exposure, planning limitations and audit failures’.
Praful Saklani, CEO, Pramata, commented: ‘The current economic climate is focused on tariffs, but the tariff fluctuations are really a subset of Vendor Risk Analysis which is a hot button for any business that is part of the international supply chain structure.
‘How do you run a business when the tariff policies are in flux and, likely, will be for an indefinite length of time? It all goes back to the organization’s contracts – contracts lie at the center of how tariff policy impacts our economy – it all goes through the mechanism of the contract. Pramata’s Tariff Risk Analyzer answers the most pressing questions businesses have right now and offers solutions to address real-world problems.’
Is this a big deal?
Well, it reminds this site of the AL story earlier today about Herbert Smith Freehills creating an AI policy tracker. I.e. the world is in a state of regulatory flux, and so lawyers want to advise on these strategic legal issues and those working inhouse want to protect their companies from these rapid changes.
In this case, by collecting external information about changes to trade rules, then looking at what this means for each contract that is impacted, and doing this with some agentic AI analysis, you can potentially gain some very useful insights.
Overall, it’s another example of thinking about what can be done with AI to create new value. It’s also an example of moving quickly to produce a tool that meets a very current need. Perhaps that in itself is noteworthy, i.e. with genAI tools you can now move faster perhaps than in the past in terms of producing a working product, mainly because the LLMs you choose to use are doing a lot of the ‘heavy lifting’ for you?
You can find more about Pramata here.
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Legal Innovators California conference, San Francisco, June 11 + 12
If you’re interested in the cutting edge of legal AI and innovation – and where we are all heading – then come along to Legal Innovators California, in San Francisco, June 11 and 12, where speakers from the leading law firms, inhouse teams, and tech companies will be sharing their insights and experiences as to what is really happening.
We already have an incredible roster of companies to hear from. This includes: &AI, Legora, Harvey, StructureFlow, Ivo, Flatiron Law Group, PointOne, Centari, LexisNexis, eBrevia, Legatics, Knowable, Draftwise, newcode.AI, Riskaway, Aracor, SimpleClosure and more.
Cooley, Wilson Sonsini, Baker McKenzie, Gunderson, Ropes & Grey, A&O Shearman and many other leading law firms will also be taking part.
See you all there!
More information and tickets here.
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