Author: Bleaf

Why the hybrid solution is better than owning software for contract data extraction

June 18, 2020 Posted by

Data Extraction from contracts The old way of capturing essential data attributes from legal documents has been transcended, thanks to technology. It is difficult to achieve very high accuracy from software and consistency from manual methods. Yet we hear about Artificial Intelligence (AI), we hear about Machine Learning software systems and other new technologies for […]

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Understanding procurement management, the simple way

April 21, 2020 Posted by

A Procurement Management Process helps companies purchase goods and services from external suppliers, it further includes a series of activities and processes. The procurement management process comprises planning, selection, administering, and closing procurement i.e. awarding and managing the contract. It is vital for any organization to have a proper procurement management system so to avoid […]

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Contract abstraction: Reduce cost while improving your contract functioning

February 19, 2020 Posted by
Contract Abstraction A process of "abstracting" key dates, clauses, payment terms options, and other information from a contract into data useable by a Contract Management System. This provides a concise view and saves companies precious time and resources. Furthermore, through the utilization of contract abstraction services, documents are easier to read for non-lawyers since essential [...] Read More →

A Short Guide to Contract Risk

February 3, 2020 Posted by

When a contract comes into existence, it automatically creates benefits and risks for contracting parties as it consists of many elements like consideration, offer, and acceptance, intention, legal purpose, etc. Contract risk can occur in any phase from creation to execution of the contract, say when creating a contract there can be communication gaps leading […]

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Why there is a need for implementing a CLM solution?

January 11, 2020 Posted by

Contract Management The role of contract management is evolving now. It’s not simply filing documents anymore; contract management entails understanding each facet of a contract’s lifecycle to extract purposeful insights. Business with contract lifecycle management efforts in place is able to serve their clients better, resulting in more revenue opportunities from existing and potential clients. […]

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How contract management software can help your sales team increase profitability?

December 17, 2019 Posted by

Contracts are one among the difficult documents that ought to be evaluated befittingly, and if there isn’t a clear system for the solid review process in place the terms may be overlooked leaving a company in a weaker position. Across your business, whether in sales, legal, marketing, or vendor management, contracts help protect the company, […]

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Manage your contract obligations

November 22, 2019 Posted by

What is a contract obligation? An obligation is a necessity, a bond, a guarantee; something that must be performed. Lawful wording stipulates the utilization of “will” and “should” to state firm Obligation in an agreement or a guideline. The expressions “will” and “may” are likewise used to demonstrate less strong duties, yet are nonetheless significant […]

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Stages for effective contract execution and management

October 28, 2019 Posted by
Contract lifecycle management popularly known as CLM is the process of managing contracts from requesting a contract to the disposition of the contract. Various tools and software are available in the market to handle this process effectively. Morden-era tools even allow automated drafting, redlining, digital signatures, and compliance management on the tool itself. Implementing an [...] Read More →

Blockchain- Hottest technology of its time

September 24, 2019 Posted by

Blockchain is the technology that runs behind bitcoin the first digital cryptocurrency. It is a distributed public ledger that is used to record transactions across many computers so that it can’t be altered without the modification of all subsequent ledgers and the consensus of the network. Blockchain is a decentralized, peer-to-peer, immutable storage network that […]

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Manage Contracts

September 18, 2019 Posted by

Your first reaction when you see reams of paper or contract document files on your computer is often “How do I get a handle on this?”  The typical answer that comes to mind is “Let me get a system that manages contracts.” Then you start researching contract management systems vendors. Yes, that is the ultimate […]

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Unleash potential of contracts by abstracting key data points

September 3, 2019 Posted by
Contract abstraction simply means extracting important data points which include clauses, dates, and meta-data from your contracts. Abstracting essential information from your contracts will help you manage and identify existing contractual commitments. Additionally, this will enable you to analyze risks, obligations, and opportunities to avoid potential legal disasters. Organizations need better knowledge and insight into [...] Read More →

CPQ – Configure, price, quote What is it?

August 12, 2019 Posted by

CPQ software is quickly gaining traction in the business world as it illuminates fair prices for products. CPQ is used to help companies to keep prices in line with the current conditions. At its core, CPQ software deals with the three core operations “Configure, Price, Quote” for controlling the prices of a company’s product. C […]

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Contract Lifecycle Management (CLM) is becoming a “need to have” priority for firms

July 18, 2019 Posted by

Contract Lifecycle Management is no longer a “nice to have” initiative, but rather a “need to have” business practice. With a direct impact on both revenue and expenses as well as the risk profile of a company, many businesses have an elevated interest in implementing automated solutions. The efficiencies introduced by an automated contract lifecycle […]

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