AI Contract Summary & Vendor Intelligence
Overview
Alpha. AI Contract Summary & Vendor Intelligence is currently in alpha and will be available for early access in the coming weeks. Features and functionality may change based on feedback.
When you open a contract in Vendors > Contracts & renewals, Ramp analyzes the attached documents and surfaces AI-generated insights across two views: a Review before renewing card on the Overview tab, and an Insights tab containing Contract analysis and Pricing data. 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.
Insights tab
The Insights tab on the contract detail page provides detailed contract analysis, pricing benchmarks, and negotiation context.
Contract analysis
Ramp reviews the contract and produces findings organized into three severity tiers:
- Action required — Issues that need immediate attention. Examples include discount decay clauses, auto-renewal windows shorter than 60 days, no cancellation clause, uncapped overages, or unilateral price increase rights.
- Worth negotiating — Terms that are unfavorable but not critical. Examples include payment terms worse than Net 30, missing SLA credits, or unilateral amendment rights.
- For your records — Standard terms worth noting but unlikely to affect the deal.
Each finding includes a description of its impact.
Pricing data
When pricing data is available, the Insights tab compares your contract's line-item pricing against market benchmarks. Each line item displays where your price falls on a Low, Typical, and High range compared to what other businesses pay, with a percentage comparison to the median, 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.
Renewal brief
For contracts approaching renewal, Ramp generates a renewal brief that includes strategic negotiation opportunities, suggested talk tracks, and recommended approaches for the renewal conversation. The renewal brief is accessible from the Insights tab via a Show more link below the contract analysis.
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.
How are the severity tiers determined?
Ramp scores each finding based on factors such as dollar impact, time pressure, reversibility, and negotiation leverage. Certain clauses are automatically flagged — for example, auto-renewal windows shorter than 60 days or uncapped overages are always marked as Action required.
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.
Do I need to do anything to generate the AI contract summary?
No. The AI contract summary is generated automatically when you open a contract that has documents attached. Uploading additional documents (order forms, MSAs, SOWs) will make the analysis more complete.