Apttus Corp. is looking to make artificial intelligence a bigger part of how enterprises close deals.

The software-as-a-service unicorn, which provides a platform for handling the logistical aspect of large business transactions, today unveiled new AI features designed to automate common administrative tasks. The capabilities are rolling out to its Max chatbot for sales teams. According to Apttus, the assistant can now play a much more central role in a company’s deal-making activities.

When a new opportunity comes down the pipe, Max automatically notifies the member of the sales team who is expected to handle it. Then once they’ve engaged the buyer, a user can have the chatbot prepare needed documents such as nondisclosure agreements. Max is similarly capable of generating a price quote based on the transaction details.

The goal of these features is to free up time that salespeople normally spend on administrative chores for more productive work. The other, and no less significant objective, that Apttus hopes to achieve with today’s update is helping teams avoid potentially costly oversights.

To this end, the company has equipped Max with new algorithms designed to scan agreements for “high-risk language” that may not sit well with one of the parties. The company said the chatbot also keeps an eye out for delays in the contract approval process. After a certain amount of time, it asks the users if they wish to have an automated email reminder sent to the people holding things up.

Apttus said Max can help salespeople improve their own productivity as well. The chatbot can generate sales recommendations that companies may customize using data from deals closed by their top-performing representatives.

The introduction of the new features comes as Apttus reportedly lays the groundwork for an initial public offering. Late last year, sources familiar with the matter told Bloomberg that the company is working with Goldman Sachs Group Inc. on an IPO. If the report is accurate, Apttus might decide to move forward with the plan in the foreseeable future to take advantage of the current investor enthusiasm for tech IPOs.

Image: Apttus