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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 […]

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

The more robust systems allow you to track dozens of attributes, the important, sometimes critical data contained within your contracts. Without tracking attributes, you will not be able to make full use of your investment in these systems. As an example, if you do not extract and track basic things like the expiration date, how [...] Read More

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 […]

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 […]

In our previous blog, we talked about the CCPA “California Consumer Privacy Act” the data protection compliance which is coming into effect on Jan 1, 2020. The act is modeled after the GDPR “General Data Protection Regulation”. People who are aware of GDPR will see similarities with CCPA compliance. Both these compliance CCPA and GDPR […]

Prioritize- set your priorities, knowing things makes it easier to focus on the right information. Set your score points to quantify the vulnerability of risk and its impact on business. This will set your priorities for business activities, financial activities and other facets. Regulatory alerts – Making a clear summary of what needs to be done; deadlines, […]

We are aware of the GDPR compliance which was implemented for the protection of European citizens. Now comes another act in data privacy – the California Consumer Privacy Act, signed on June 28, 2018, by Governor Jerry Brown. The CCPA’s intent is to protect California consumers’ rights so that there is privacy and transparency. It […]

When clients are dealing with contracts or legacy contracts, NLP/AI technologies can be used to extract salient data points. This data is then loaded into a CLM (Contract Lifecycle Management System). Having good software for the extraction of data is essential, but it is not sufficient if any accuracy is desired. Why is accuracy a […]

Vendors play a vital role in the success of your business regardless of what business you’re in. From office equipment to software, from raw materials to services, businesses rely on third-party vendors, it can be easily said that though they are the external parties for a business but can easily influence and affect the operations […]

Our Thoughts

Manage Contracts

Unleash potential of contracts by abstracting key data points

How to make contract legal management systems more productive?

CPQ – Configure, price, quote What is it?

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

CCPA vs GDPR – Data protection compliances

Ways to adhere risk management

CCPA compliance – What all to be known

Data extraction from contracts – in-house or outsourcing to a specialized firm

Vendor Contract Management and its importance in your business