We recently launched a new service: automated contract abstraction and analysis. We call it “contract intelligence”. And it’s proving to be a real winner! We’re finding dozens of GC and contract professionals don’t really know what’s in their executed agreements. But they need to know. Even with expensive contract management systems in place, they often do not track all the attributes, particularly high level provisions like assignability or limitations on liability. Often, we hear that the 20 or 30 things they decided to track 5 years ago when they installed the system are not what’s needed today.
And, they also tell us that answering a senior executive’s question about risks or obligations might only be fully answered by looking back through hundreds, sometimes thousands of executed contracts.
Contract intelligence combines fast, accurate, and inexpensive automated abstraction with our report writing and query tool to give that kind of insight across all, or any subset of your executed contracts. And it’s getting a LOT of attention. Check it out: http://test.brightleafsolutions.com/abstraction.