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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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 […]

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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 […]

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Wow…what a concept!!  Finding money to add to your bottom line that you didn’t know you had.  How can that happen?!?  Vendor/Supplier contracts, as with many other types, have performance penalty clauses.  Often times, these are forgotten because contracts are drafted and filed away and these clauses often times, are forgotten and lost! If you […]

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The ultimate goal of automating contract management is to lessen business and reputational risks of corporations by ensuring they comply with the terms and conditions of every contract. Most importantly, automated contract management enables corporations to foresee their rights and obligations, and thus prevents future litigation and its cost. Automated Contract Management – Puts pertinent […]

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We’re seeing new flavors of technology impact just about in every part of our business lives. The practice of law is affected as well: new technology is profoundly changing the way law firms and legal departments operate. On top of that, technology is driving globalization, and the resulting geographic ‘spread’ of business is increasing. This […]

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Getting key data elements extracted from contracts is not an easy chore.  Done manually, you would need to open each and every contract (which in itself is a time-consuming task), search through the full document for many different types of language, and copy and paste into a tool like Excel.  Time studies have shown that […]

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In my earlier blog, I had given 5 steps to choosing a CLS.  Not all CLS’s are created equal.  You may first want to see what you require to manage your contracts.  What salient information do you really have in your legacy agreements? How does it vary? What’s important to you? Do you want to […]

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In my last blog, I mentioned how current laws have not kept current with advances in technology. Let’s now focus how new technology is playing an increasingly important role in Big Data. In the corporate world, timely, accurate and secure access to critical business information is crucial to success. But there is so much unstructured […]

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Why would anyone take the time, effort and all the lawyer fees to negotiate and draft detailed, often complex contracts and agreements with vendors, suppliers, and clients, only to file them all into a drawer, never to be looked at again? We at Brightleaf see it all the time. We believe that contract management through […]

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Here at Brightleaf, we’re big believers in self-preservation. We live by helping companies mine their legal documents so they can analyze, understand, and better manage their customers, vendors and partners.  In other words, we thrive by assisting our clients with their data-driven decisions. So imagine our angst when we came across an article entitled “Data-Driven […]

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As part of our contract intelligence launch, we just published a new white paper entitled “Automated Contract Abstraction – How new technology enables fast, affordable contract abstraction”.  We’re getting a lot of kudos from readers. Check it out: http://www.brightleaf.com/contract-abstraction/ It teaches how automated contract abstraction helps keep contract management systems up-to-date; reduces risk by ensuring […]

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