Persistent Systems soars on launching ‘ContractAssIst’ in collaboration with Microsoft

Persistent Systems is currently trading at Rs. 6147.45, up by 255.95 points or 4.34% from its previous closing of Rs. 5891.50 on the BSE.

The scrip opened at Rs. 5900.05 and has touched a high and low of Rs. 6211.30 and Rs. 5900.05 respectively. So far 23281 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 6788.80 on 20-Dec-2024 and a 52 week low of Rs. 3232.60 on 04-Jun-2024.

Last one week high and low of the scrip stood at Rs. 6403.60 and Rs. 5854.00 respectively. The current market cap of the company is Rs. 94334.83 crore.

The promoters holding in the company stood at 30.66%, while Institutions and Non-Institutions held 50.71% and 18.63% respectively.

Persistent Systems has launched ContractAssIst, an AI-driven contract management solution developed in collaboration with Microsoft. Powered by Microsoft Azure, Microsoft 365 Copilot, Microsoft Teams, and advanced AI technologies, ContractAssIst simplifies workflows, enhances collaboration, and reduces operational complexity, enabling enterprises to achieve greater efficiency and optimize costs. Many enterprises struggle with tracking and managing their high volume of contracts from various vendors, leading to inefficiencies and lost productivity. ContractAssIst leverages Microsoft’s robust technology ecosystem to deliver advanced contract management capabilities.

Built on Azure AI, the solution ensures secure data handling, advanced search capabilities, and seamless compliance. It integrates with Microsoft 365 Copilot and Microsoft Teams, providing teams with real-time collaboration tools and AI-enabled decision support, while advanced models like GPT-3.5 and GPT-4 through Azure OpenAI Service enhance contract analysis with natural language processing. Observability tools like Elastic and Application Insights ensure scalability and transparency, making ContractAssIst a holistic contract management solution for enterprise needs. 

Addressing key challenges, ContractAssIst consolidates workflows into a centralized dashboard within Microsoft Teams. Its AI-powered chatbot enables conversational queries and offers intelligent suggestions within group chats, reducing delays and optimizing processes. Additional features include real-time version tracking, contract comparison, instant notifications, and approval summaries.

Persistent Systems is a global company specializing in software product and technology services.