The ultimate goal of automating contract abstraction is to lessen the business and reputational risks of corporations by ensuring they comply with the terms and conditions of every contract. Most importantly, automated contract management enables corporations to foresee their rights and obligations, and thus prevents future litigation and its cost.
Automated Contract Abstraction
- Puts pertinent information right at your fingertips.
- Provides a succinct view of all significant points such as date, party name, expiration, renewal, and more.
- Saves time, cost, and resources thereby increasing internal productivity and ensuring legal compliance across the entire contract lifecycle.
- Helps companies make informed decisions about the contracts they sign and the importance of a legal document comes to light.
- Overcomes threats associated with non-compliance such as loss of reputation, cancellation of license, loss of customers, penalties, fines, and withdrawal of fiscal benefits.
Brightleaf Solution’s automated contract abstraction employs breakthroughs in computer-based language analysis of legal documents, which is then vetted by our trained lawyers for conforming a six-sigma level accuracy. It eliminates the need for your staff or expensive outside firms to spend large amounts of time pouring through all your contracts to gather and review risks, obligations, and opportunities.
For more information download our report on Gain insights into your contracts with automated contract abstraction.