Regulation is an official way of doing the things made by an authority which consists of a set of rules and trends. It is normally defined as legislation imposed by government authorities on individuals, firms private or public to regulate and amend economic factors. Compliance in law Compliance means following rules and regulations as prescribed […]

Contract life cycle management systems (CLM) allow users to centralize contract storage and management, plus aid in the creation of new ones that fully comply with the company’s policies and requirements. This breed of systems provides all of the features of a CMS but add workflows to request, author, negotiate, approve, present, execute, manage obligations, […]

Organizations, be small or large, manufacturing or technology, product based or service based when doing business with their suppliers or customers need to put their commitments in writing to avoid any confusion or overlooks. Here comes the need for a contract, a written document that comes with a legal binding to render services promised to […]

When you go into a contract management system, from what point in time do you start entering contracts? Most think of today because legacy contracts are too difficult. But that can expose you to risk and lost opportunities. Every contract is important, especially if it contains opportunity or risk. Older contracts have the same essential […]

Organizations use and need legal contracts to transact business, but it is only when they are managed in an efficient way do they really make business effective. It is therefore imperative to have a system that can store and recall not only the contracts but also the critical and key elements of any contract. Success […]

There can be multiple contracts strewn across various parts of an organization, and even if they are collected and housed in a central repository, the key information in these contracts remains buried away. Brightleaf understands that companies are primarily run by contracts, buy side as well as sell side, and having access to them, including […]

Having a Contract Lifecycle Management (CLM) system in place is only effective if it contains the essential information in an accessible format. The CLM is not an end in itself but a means to an end, in that it can provide the essential information on demand, or triggered by a previously flagged event/activity, but to […]

There is so much of data being produced nowadays that without the help of an automated system the scattered information may not mean anything and cannot be put into a good use. Technologies like Artificial Intelligence, Machine Learning and Data mining are contributing heavily towards managing this enormous amount of data. A lot of effort […]

Leases are contracts that control the right to use something for a consideration, and companies use them to benefit from plant and equipment as well as to provide customer facing services. With the new FASB rules, how contracts are accounted has changed, therefore there is a need to identify the essential attributes of your leases […]

Mitigate your risks by managing your contracts. Every upside has a downside somewhere and when it’s a hard obligation in a contract it is essential to know about it so you can manage it on time. Risks can include penalties, overcharges, under-billing, and being late. All can hit the bottom line, destroy a dependent contract […]

Transforming contract data, that is on paper into searchable attributes for inquiry and reporting is time consuming and often error prone. Now this can be done using clever technology with experts verifying the end results. Brightleaf is one such company using its own process, people, and technology to provide data at: a) 99.999% (Six Sigma) […]

21st century manufacturing relies on technology and just-in-time delivery to optimize cost control and profitability. Managing the logistics of raw materials and component parts inbound, managing reliability (maintenance) of manufacturing and delivery equipment and delivering outbound efficiently is all bound up with contracts. Reducing lead times, inventory carrying, production down time and wastage are essential functions. […]