Lease extraction – the process of retrieving relevant data points from your lease contracts, can have a huge impact on your organization if not tracked properly. A summary of your lease contracts on your fingertips can save you time, money and mitigate risk associated with non-compliance. The process of reviewing lease data for say asset […]

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Is Brexit really happening? The UK government says ‘Yes’ and it is scheduled to leave at 11 pm UK time on Friday, 29 March 2019. Well, whether it happens or not happens, keep that discussion aside for now. What you might be interested in knowing is, how Brexit impacts certain contractual obligations in your existing contracts? […]

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To realize the benefits which exist after the contract has been signed, it’s necessary to not only understand the terms and provisions contained in your contract, but to capture these for ongoing management. When a contract is signed, most organizations do a good job of tracking the contract’s basic operational requirements (e.g. renewal dates), but […]

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The term “Migration” is used, sometimes loosely to describe getting contracts out of an existing system, or even file folders, into a CLM system.  Migration is the process that takes documents from older systems and puts them into a newer system. Scan – Scan the documents from paper to a file on a computer. This […]

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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, […]

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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 […]

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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 includes: • Swaps and […]

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

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As a company growth graph moves upward, having a Contract lifecycle management 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 act […]

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When people plan a contract management system, their immediate concerns tend to focus on finding their contracts and reporting on standard metadata, including contract owner, contract status and renewal date. A centralized repository takes care of the first need. Configured reports set up for specific contract metadata address the second need. But beyond standard contract […]

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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 […]

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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 by all the Non-European organizations trading with European nationals or companies. This regulation will bring a new set […]

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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 which comes with a legal binding to render services promised to […]

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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 ensure 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 […]

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Monitoring various legal, 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 include […]

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