Terzo is a provider of an AI-powered contract intelligence platform that helps organizations optimize their spend and revenue across supplier and customer relationships. The company's software uses artificial intelligence to extract critical data trapped in contracts, such as inventory, costs, contractual obligations, expiration dates, and metrics related to environmental, social, and governance policies.
Terzo's technology was trained on real-world business contracts, supervised by a quality assurance team to ensure baseline accuracy. The platform integrates with enterprise resource planning systems like SAP and Oracle to track contractual information. It aims to deliver advanced insights around financials and budgeting, addressing a gap in traditional contract management systems focused primarily on drafting and clauses.
As of November 2022, Terzo had over a dozen customers, including a Fortune 50 retailer and the largest financial transaction processor in the world, with over USD 20 billion in contract value being managed across all customers. The company aimed to drive revenue at over 50% of its overall expenses by 2023 and achieve profitability by 2025.
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