Unlock insights from within your contracts and bring business-critical information to the forefront Do you truly know what the clauses, provisions, and terms that are buried inside your legacy contracts say? For most organizations, the answer is: NO Extracting key data elements from your legacy contracts is not an easy chore. Consider that when the […]
Read More →Have you updated the Force Majeure clause with COVID-19 in your existing contracts? If not, this is the best opportunity to modify the existing clause in all your legacy contracts and include it in future contracts. Force Majeure clause is one of the important clauses to include in a contract that relieves the parties from […]
Read More →In today’s scenario legal business homes, legal firms and organizations all across the world are getting into a whole bunch to thousands of contracts on a usual, which ends in an exceedingly giant, scattered and cumbersome storage of varied sorts of legal contracts clause that’s arising in varied contracts. The cycle of a contract doesn’t […]
Read More →The role of contract management is evolving now. It’s not simply filing documents anymore; contract management entails understanding each facet of a contract’s lifecycle to extract purposeful insights. Business with contract lifecycle management efforts in place is able to serve their clients better, resulting in more revenue opportunities from existing and potential clients. With a […]
Read More →Contracts are one among the difficult documents that ought to be evaluated befittingly, and if there isn’t a clear system for the solid review process in place the terms may be overlooked leaving a company in a weaker position. Across your business, whether in sales, legal, marketing or vendor management, contracts help protect the company, […]
Read More →Let us understand in short exactly what meta-data is and why is it so important? Meta-data is the important data from contracts or underlying documents, it can be further described as the content by a set of fields and values so that one can get a structured data from a contract which can be stored […]
Read More →Contract abstraction simply means extracting important data points which include clauses, dates, 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 their […]
Read More →For a small organization with a quantum of 10-50 contracts it is quite feasible to go back to their contracts and review them time and now, but as the volume and complexity increases, it becomes difficult managing these contracts without the assistance of some kind of contract management tool. It can be a simple excel […]
Read More →If your organization have hundreds and thousands of contracts flooded around you, I am sure you would miss to track at least one key obligation out of 100 contracts. This can be due to lack of reporting abilities in your in-house contract repository system or you never extracted the key elements from your legacy and […]
Read More →In the last few years, all industries have been benefiting from an increase in automation, from robotics to software and Artificial Intelligence (AI) solutions to automated processes and tasks. According to different estimations, in the next decade, Artificial Intelligence is thought to replace 16% of jobs. Technologists are busy in their labs innovating advanced versions […]
Read More →Contract abstraction, a process which is typically too time consuming for internal resources and too cost‐prohibitive to outsource. Many companies that do outsource abstraction face project costing of hundreds of thousands of dollars. Plus, even when outsourced, the planning, training, oversight, and checking of results still require a great deal of your staff’s time. Through […]
Read More →Extremely large amount of complex data set which is difficult to process by traditional systems is called big data. This data is being produced constantly every second and minute of life. Capturing, storing, and analyzing this data is usually the biggest challenge that companies are facing at these days. Managing this complex and massive data […]
Read More →To gain increased and immediate benefit from contract management systems, it is important to extract and load metadata from legacy agreements. But many find that process costly, complicated and time-consuming. So what is the best answer? “Join Brightleaf and IACCM’s joint webinar on Overcoming the challenge of legacy agreements” Click here to register Date: September 20, […]
Read More →The old way of capturing essential data attributes from legal documents has been transcended, thanks to technology. we hear about Artificial Intelligence (AI), we hear about Machine Learning software systems and other new technologies for data extraction from contracts. But when we dig into the details, the accuracy of abstraction is not to the standard […]
Read More →Contracts within an organization run like blood in a human body, they dictate every aspect of key business strategies and relationships. Poor contract management can hamper the success of your business and can lead to severe negative consequences. Here are some of the reasons why you need an effective contract management process: To honor your […]
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