We’re seeing new flavors of technology impact just about 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. Technology is driving globalization and is resulting in the geographic ‘spread of businesses’. This means closer monitoring of laws […]
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2020 was an extremely challenging year for industries. Everything went virtual, customers have shifted from physical stores to online portals for daily needs, and people meeting, learning, exercising, and even dating have gone virtual. Cloud computing has come a long way in providing organizations with better and more efficient ways to manage their businesses. COVID-19
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In today’s rapidly evolving business landscape, efficient contract management is a critical factor for success. Organizations of all sizes handle a multitude of contracts, each brimming with valuable data. Extracting this data, especially metadata, is a challenging and time-consuming endeavor. In this blog, we will take you on a journey through the transformative landscape of
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The world has seen many challenges this past year. Covid-19 upended the way we live and work but we are adjusting our actions, making life convenient and safe, and striving for a better world. Many organizations have seen revenue disruptions during COVID-19, and companies faced increased pressure to recapture revenues. Despite all this, Artificial intelligence
2021: Get set for a year of more Digital and more Artificial Intelligence Read More »
Have you updated the Force Majeure clause with COVID-19 in your existing contracts? If not, this is the best opportunity to modify the existing clause in all your legacy contracts and include it in future contracts. Force Majeure clause is one of the important clauses to include in a contract that relieves the parties from
Contracts and the COVID-19 Crisis: Force Majeure Clause Read More »
It’s important to be on top of your contracts and have all the relevant documents in place. It reduces the chance of missing the relevant and documents that are of high importance and saves time and effort on the documents that are not relevant. As a company growth graph moves upward, having a contract lifecycle
Big data is an extremely large set of data that primarily consists of three characteristics volume, velocity, and variability which require storage, interpretation, and analytics to figure out the meaning. Here, data sources could be anything like social media comments, tweets, sensors, health records, smartphones, and on and on. Deep down this data has a
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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 »
Contract summarization plays a crucial role in contract management, helping organizations quickly extract key terms, obligations, and risks. Depending on business needs, companies can choose between manual, automatic, or hybrid summarization methods. Each approach offers distinct advantages, whether prioritizing accuracy, efficiency, or scalability. Manual Summarization This is the most common and traditional way of summarizing
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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 »
