Monitoring various legal, and financial risks within contracts is definitely a need for the day and migrating abstracted data into a CLM to monitor and manage your contracts is the focal point of the process.
Organizations can have a number of legacy contracts residing across the company divisions, shared folders, and other repositories, which might include important information and need attention. Having CLM is not just the end, capturing information out of these contracts is the solution. Migrating these contracts and legacy data into a searchable database is essential to be on top of your obligation.
Contract migration into a CLM is the way that yields benefits from having a single and unified repository to identify & mitigate the risks. Having a CLM in place is necessary for this modern business environment to provide all the important information on demand for making important business decisions, compliance monitoring and reporting, etc.
Manual contract abstraction of lengthy and voluminous contracts can be a painful and hideous task and if done through software alone can result in substandard output. Brightleaf is a one-stop solution to all your contract management needs, using our own proprietary semantic intelligence/natural language processing technology, and our own team of lawyers to extract necessary and critical information from your contracts we give six sigma quality output that can be migrated into any enterprise-level system.