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Effective access and use of data have changed the way companies are operating their business in this highly competitive and challenging environment. This ever-increasing amount of dynamic data is becoming too much for human processing and analysis. There is so much data being produced that without the help of an automated system this scattered information […]

On September 01, 2017, the Federal Reserve Board (FBR) and the Federal Deposit Insurance Corporation (FDIC) finalized the amended rules for qualified financial contracts (QFC) of global systematically important banking organizations (GSIBs) and the US operations of non-US GSIBs. The new amendment concentrates on qualified financial contracts of covered entities, which include: • Swaps and […]

Legacy data is the data from your legacy or your older contracts. These are contracts that have been executed prior to today. They may be current and still relevant or may not be (expired). It is important to track legacy data for the following reasons: Information- much knowledge of the old contracts. This is lost [...] 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 […]

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 […]

A unanimous move to protect data from cyber attacks and breaches, GDPR is a regulation and not just a directive, that has to be followed by all the organizations operating within Europe, European residents as well as all Non-European organizations trading with European nationals or companies. This regulation will bring a new set of requirements […]

Technology companies today operate in immediate real-time, an environment that is dynamic and ever-evolving. Managing the risk/reward of contract obligations in technology organizations ensures staying in business, and growing rapidly. So, the question is: How do you structure all your disparate contracts with their attachments so that you have the ability to use them for […]

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 […]

Contract Summarization is the restating of the salient points of interest in the contracts in as few words as possible with the goal to simplify the given information by pointing to the most relevant terms and clauses in the contract, limiting the need for accessing the original documents. Some of the benefits of contract summarization […]

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 […]

Getting all your contracts into a Contact Management System means you can manage your contractual obligations and risks. To do this you need reliable information that is both accurate and comprehensive in the database. Any error, such as a different multiplier in a penalty clause, a wrong expiry date or just a missed and not […]

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 […]

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 […]

The Financial Accounting Standards Board (FASB) today issued an Accounting Standards Update (ASU) intended to improve financial reporting about leasing transactions. The ASU affects all companies and other organizations that lease assets such as real estate, airplanes, and manufacturing equipment. The changes are significant and follow on the heels of similar international guidelines recently announced […]

Mesmerizing words like big data, data visualization, business intelligence… we have been hearing and using these words quite frequently in our day-to-day conversations. And why not? After all, this industry is one of the fastest growing. With so much new information flowing into virtually all businesses via different sources – online visitors’ engagement on company […]

OUR THOUGHTS

Category: Blog

Artificial Intelligence & Contract Data Accuracy

Qualified Financial Contracts – all you need to know about the final amended rules

Benefits of tracking Legacy data from your contracts

Takeaways from CLM system

Unlocking the Value of Your Existing Contracts

GDPR – compliance which cannot be overlooked

Converting your unstructured/semi-structured contractual data into reportable structured format

Benefits of migrating contracts into a Contract Lifecycle Management System

Benefits of Contract Summarization

Understanding semantic relationships in your contracts

What Six Sigma really means in contract attribute extraction for Contract Management Systems

The wisdom of capturing all your legacy contracts, not just those from today forward

How to Organize Your Contracts

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