AI Contract Summary & Vendor Intelligence
Overview
Alpha. AI Contract Summary & Vendor Intelligence is currently in alpha. Features and functionality may change based on feedback.
When you create a contract with documents or attach documents to an existing contract from Contracts, Ramp analyzes the documents and surfaces AI-generated insights on the contract detail page. These insights include a Review before renewing card on the Overview tab and an Insights tab containing Contract analysis. Together, these help procurement and finance teams prepare for renewals and evaluate contract terms without manually reviewing every document.
For general information on creating and managing contracts, renewals, and expansions, see Contracts & renewals.
Review before renewing
The contract detail page includes an AI-generated summary card on the Overview tab with a "Review before renewing" header. This card analyzes attached documents and highlights what matters most before a renewal or signing. The full analysis is available on the Insights tab.
Key terms extraction
Ramp extracts structured key terms from the contract documents, including:
- Term length and renewal dates
- Cancellation and termination provisions
- Payment terms
- Overage and usage-based pricing terms
- Data rights and privacy provisions
- Liability caps
- Service level agreements (SLAs)
Each extracted term includes the specific value, a plain-language description, and source references linking to the relevant sections of the contract document.
Contract analysis on the Insights tab
The Insights tab on the contract detail page provides detailed contract analysis and negotiation context.
Ramp reviews the contract and presents a prioritized list of findings. Each finding includes a description of its impact.
Line-item price benchmarks
When comparable pricing data is available, the Line items table on the Overview tab compares your contract's monthly line-item pricing with P25, median, and P75 benchmark values. The Market position column labels comparable prices as Below market, Typical, or Above market, helping you identify whether you are overpaying.
These benchmarks are powered by Price Intelligence, which uses anonymized, aggregated pricing data from across Ramp's customer base.
Using AI chat for negotiation
From the contract detail page, you can use Ramp's AI chat to dig deeper into any finding or get help preparing for a negotiation. Suggested prompts include:
- "What else can I negotiate?"
- "Draft me a negotiation email"
The AI chat uses the full context of the contract — including attached documents, extracted terms, and pricing benchmarks — to provide tailored responses.
Frequently asked questions
What documents does Ramp analyze?
Ramp analyzes documents attached to the contract, such as order forms, master services agreements (MSAs), statements of work (SOWs), and proposals. The more documents you upload to the contract, the more complete the analysis will be.
Can the AI contract summary make approval decisions?
No. The AI contract summary and pricing data provide analysis and recommendations to inform human decision-making. They do not approve or reject contracts. Reviewers remain fully in control of all decisions.
Where does the pricing benchmark data come from?
Pricing benchmarks use the same underlying data as Price Intelligence — anonymized, aggregated pricing data from across Ramp's customer base. For details on how this data is generated, see Price Intelligence on Ramp.