The analysis is the process of breaking a complex topic or substance into smaller parts to gain a better understanding of it. When we talk about ‘contract analysis’ plenty of questions come to mind – does it refer to the financial analysis of a contract or it is about cost-effectiveness, business analysis, or maybe price […]
Read More →Is it your core business or your contracts, that should take your maximum time and effort? With contracts, always in a state of flux, being renewed or newly negotiated it may seem like a good idea at first to buy software for your in-house system. However, you need to buy, install and train and then […]
Read More →Contracts come in an endless variety of forms and complexity. Some contracts are dozens of pages long and comprehensible only to those with specialized skills, therefore they are critical. Each and every contract can be different and usually, therefore capturing information hidden in these contracts is not that straightforward. Clauses can be expressed differently in […]
Read More →Contracts are all structured and worded differently, attributes can be phrased in different ways, there can be ambiguities and data can be presented in various forms. Most contracts are in text form that is non-computer searchable. So, it needs to be put into a format that a computer can read. You will think of software […]
Read More →As a company’s growth graph moves upward, having a Contract lifecycle management (CLM) system in place is the way to manage all your contracts. It is a single unified repository to track contracts better. Reports generated through these systems help businesses to make better-informed decisions. A contract lifecycle management system enables you to: Report and […]
Read More →Contract Lifecycle Management (CLM) has become a top priority for C Level Executives worldwide. CLM systems are no longer a “nice to have” initiative, but rather a “need to have” business practice. The efficiencies introduced by an automated contract lifecycle solution are numerous – and, as the name suggests – it addresses the complete lifecycle […]
Read More →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 […]
Read More →If you use manual search and data entry for essential contract attributes (i.e. the things you need to search on) how do you know you have them all? The answer is in their semantic relationship, which indicates the meaning of words between different phrases, or between the meanings of different sentences. Semantic data extraction seeks out all […]
Read More →When you go into a contract management system, from what point in time do you start entering contracts? Most think from today because legacy contracts are too difficult. But that can expose you to risk and lost opportunity. Every contract is important, especially if it contains opportunity or risk. Older contracts have the same essential […]
Read More →The larger the company, the more the contracts – that is a given. The larger the company, the more the divisions. The larger the company, the more these divisions work in silos. All companies run on contracts – buy side and sell side. How can you organize all the contracts? One way is to put […]
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