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 […]

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We discussed the meaning and objectives of obligation tracking in the previous post, in this post we will discuss how effective the process of automation in tracking can be and how Brightleaf holds an edge over other automation tools enabling it to achieve unparalleled excellence. Before we begin to explain the application of artificial intelligence […]

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Meaning Obligation tracking is a systematic process of breaking down contracts into a pre-defined pattern (based on the user’s need) to provide insight – with mathematical clarity – into all that there is in a contract. Metaphorically speaking, it’s a process which enables the contract to talk and explain itself – in a simple and […]

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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 […]

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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 […]

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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 […]

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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 […]

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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 […]

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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) […]

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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. […]

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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 […]

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