A General Counsel’s role is no more giving legal advice to the company, it has evolved more than this. They need to make the business model as resilient and flexible as possible. As a company grows the number of contracts also grows. It becomes very important for a GC to spend time analyzing the company’s […]
GCs to completely rethink the approach to manage contracts Read More »
Data Extraction from contracts The old way of capturing essential data attributes from legal documents has been transcended, thanks to technology. It is difficult to achieve very high accuracy from software and consistency from manual methods. Yet we hear about Artificial Intelligence (AI), we hear about Machine Learning software systems and other new technologies for
Why the hybrid solution is better than owning software for contract data extraction Read More »
[vc_row][vc_column][vc_column_text]Contract Abstraction A process of \”abstracting\” key dates, clauses, payment terms options, and other information from a contract into data useable by a Contract Management System. This provides a concise view and saves companies precious time and resources. Furthermore, through the utilization of contract abstraction services, documents are easier to read for non-lawyers since essential
Contract abstraction: Reduce cost while improving your contract functioning Read More »
Contract Management 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.
Why there is a need for implementing a CLM solution? Read More »
When clients are dealing with contracts or legacy contracts, NLP/AI technologies can be used to extract salient data points. This data is then loaded into a CLM (Contract Lifecycle Management System). Having good software for the extraction of data is essential, but it is not sufficient if any accuracy is desired. Why is accuracy a
Data extraction from contracts – in-house or outsourcing to a specialized firm Read More »
[vc_row][vc_column][vc_column_text]Legacy contracts can be a treasure trove of valuable information for a company. They contain hundreds of important, actionable obligations which need to be tracked and managed. Those are the reasons why migration is so important for every organization and is considered one of the best practices in contract management. Contracts carry an enormous amount
Why and how to migrate your legacy contracts 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,
Challenges in migrating legacy agreements into a CLM system Read More »
[vc_row][vc_column][vc_column_text]The ultimate goal of automating the contract management process is to lessen the 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.[/vc_column_text][vc_single_image image=\”9655\” img_size=\”large\” alignment=\”center\”
Automated Contract Management Read More »
