Data extraction | Brightleaf Solutions

As per a study by the Institute for Supply Management, a typical Fortune 1000 company manages anywhere between 20,000 to 40,000 active contracts at any given time. Additionally, there are legacy contracts to add to the number. Keeping track of all of these contracts can be a nightmare if done manually. Using Natural language processing [...] Read More →

Welcome to the Brightleaf CEO blog series on Legacy Contract Migration/Extraction. Explore why your business needs to extract and migrate its legacy contracts. Companies that are embarking on getting a handle around their contracts, tracking the salient terms and data points, creating templates for contract types and clause libraries, workflows, etc. often ask Brightleaf similar [...] Read More →

Not sure where to start? We’ve curated the best legacy contract migration/data extraction practices to get you started It’s important to cover the best practices, partially covered in the previous blogs. 1. Decide which contracts you want to migrate 2. Decide what data points you want to report on across a set of these legacy contracts 3. Set […]

Aaah – a loaded question. There is much talk about software telling you if there is risk in your contracts. Well, what is a risk to you? That would be different than a risk to another company or someone else. To you, if the limitation of liability is capped to 2x the spend by the […]

Again, a frequently asked and pertinent question This is the fifth of a ten-part series on contract migration and related data extraction, which will help your legal teams gain a better understanding of the information included in all of your contracts. The first reaction is that EVERY document and EVERY data point needs to be […]

This is the fourth of a ten-part series on contract migration and related data extraction, which will help your legal teams gain a better understanding of the information included in all of your contracts. This is the most asked, if not, assumed (as yes) question! And a very pertinent one. AI Software is a necessary condition […]

As part of the legacy contract migration/data extraction series of blogs, here is the 3rd one of the series. Can I extract and track my business-specific information? But of course! In fact, 30-40% of the information that Brightleaf extracts are our clients’ business-specific information. To give an example, for a Class 1 Railroad company, we [...] Read More →

To kick off the series, let us first start with the simplest question – What is legacy contract migration and why do I need to do it? You are looking to install a Contract Lifecycle Management (CLM) system to get a handle on your contracts, what good is having a great CLM without any data? […]

What is contract intelligence? Contract intelligence is the process of learning and utilizing knowledge gathered using AI-assisted contract analysis to transform contracts and agreements into valuable business assets. It empowers you to have contract visibility and take actionable insights from your contracts. It not only helps in providing transparency but also in monitoring key performance [...] Read More →

When people plan a contract management system, their immediate concerns tend to focus on finding their contracts and reporting on standard metadata, including contract owner, contract status, and renewal date. A centralized repository takes care of the first need. Configured reports set up for specific contract metadata address the second need. But beyond standard contract […]

To continue operating profitably is always the primary focus of any enterprise. In today’s competitive corporate environment, the ability to effectively manage contracts is essential to surviving in the marketplace and achieving success. At different points in our lives, each of us would have or will, without exception, sign a contract. However, have we ever […]

Lease extraction The process of retrieving relevant data points from your lease contracts can have a huge impact on your organization if not tracked properly. A summary of your lease contracts at your fingertips can save you time, money and mitigate the risk associated with non-compliance. The process of reviewing lease data for say asset […]

Contracts are an integral part of any business relationship and staying on top is critical. Automated abstraction gives legal, contracts, and procurement professionals the ability to efficiently and cost-effectively abstract key information from their contracts and improve how they manage contractual obligations. Contract data abstraction means extracting important data points which include clauses, dates, and […]

Once your company is ready to be sold your whole focus is shifted to restructuring a whole new business system. It includes certain activities which need to be taken care of such as what the company is buying and what obligations it is assuming, the nature and extent of the target company’s liabilities, contracts, litigation […]

2020 was an extremely challenging year for industries. Everything went virtual, customers have shifted from physical stores to online portals for daily needs, and people meeting, learning, exercising, and even dating have gone virtual. Cloud computing has come a long way in providing organizations with better and more efficient ways to manage their businesses. COVID-19 […]

OUR THOUGHTS

Category: Data extraction

Transforming contract management process with NLP

CEO Blog 10: Legacy contract migration/data extraction

CEO Blog 8: What are the best practices for legacy contract migration/data extraction?

CEO Blog 7: I want to know if my contracts are risky. How do I do that?

CEO Blog 5: I have 300k documents! What do I migrate into a new CLM system?

CEO Blog 4: Can AI software handle it all?

CEO Blog 3: Can I extract and track my business specific information?

CEO Blog 1: What is legacy contract migration and why do I need to do it?

Contract Intelligence is the key to greater transparency into your contractual terms

Obligation tracking: Stay on top of all your commitments

Why manage contracts?

Extracting essential data points from your leases

Contract Data Abstraction : 4 Signs to know you are ready

Capitalize the use of a CLM system post-merger or acquisitions

Embrace contract management with cloud technologies