Brightleaf automated contract abstraction benefits your entire company

Executed contracts contain crucial information for you to be able to make critical business decisions. However, there is no easy way to access this data when you need it most. Finding information within hundreds, sometimes thousands of contracts over and over again requires a resource-intensive manual search. This often yields mistakes in the data found which can result in hurting the business.

Even the most sophisticated contract management systems are often incomplete or have erroneous legacy contract information and rarely track all the important provisions across all your contracts.

This is where Brightleaf comes in

Brightleaf automated contract abstraction and migration is a technology-enabled service that automates the entire process of abstracting information from all your contracts. Our proprietary software performs abstraction and migration with unprecedented speed and accuracy. The key is Brightleaf’s underlying semantic intelligence engine that applies breakthroughs in computer-based language analysis technology to legal documents. Like Google, our software “crawls” through all your contracts and creates an index of all the key terms, provisions, and obligations.

And using a team of lawyers and additional automation for quality control, we deliver this index at up to Six Sigma standards – that’s an astonishing 99.99966% accuracy.

This highly accurate metadata from hundreds or thousands of contracts can be searched, analyzed, or uploaded to virtually any enterprise ERP system such as SAP, or contract management systems like Icertis, Exari, Symfact, Apttus, and Emptoris.

Six sigma quality

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Brightleaf eliminates the need for your lawyers or expensive outside firms to spend large amounts of time pouring through all your contracts to find, cut, copy, and paste key provisions. With Brightleaf, in-house lawyers, business executives, contract managers, and procurement professionals can instantly get the information they need.

-> Read the whitepaper to learn more about “Why Human Intervention is a Necessity for Contract Review & Abstraction”

Benefits

Revenue Recognition

Identify hidden and missed revenues from your legacy contracts

Compliance

Know your obligations, which is the first step to fulfilling them. Stay current with on-going changes in any industry.

Business Intelligence

Provides a global view of all your contracts and puts real-time business intelligence at your fingertips.

Risk Management

Identify assignability and any resulting obligations that come with inheriting contracts. Ensure compliance across your business even in the most transitional periods.

Acquisitions

Eliminate the need to deploy teams of lawyers to get crucial information to respond to regulatory changes, lawsuits, or new business initiatives. Automate the process!

Client Synopsis

Glimse of how companies use Brightleaf for extracting data from contracts

A top Web Services provider required an extraction project to help organize the site addresses and track obligations and risks throughout their agreements. Brightleaf was up to the challenge, balancing the different groups and helping everyone get on the same page. We extracted information from their MSA, Amendments, Work order, NDA.

A top customer experience management company started its contract management journey with a lot of expectations. Brightleaf extracted certain key information with respect to agreement terms, regulatory reporting, insurance obligations, audit requirements, limitation of liability, and financial obligations.

Brightleaf extracted vital information from the contracts ranging from Industrial Track Maintenance, Rail Crossing Agreements to Haulage, and Real Estate for a class 1 Railway company. There is a huge revenue realized after Brightleaf analyzed the documents and provided the information to the company. There were about 500 thousand legacy contracts, some of them even date back to the 19th century.

Smart solution for complex challenges

Brightleaf automated contract migration enables you to:

✓ Save time and money hiring expensive abstraction firms.

✓ Keep your ERP or contract management system up to date.

✓ Avoid penalties and find missing revenue.

✓ Ensure compliance with existing contracts.

✓ Gain strategic insights into overall legal obligations, risks, and opportunities.

Steps and Best Practices for Legacy Contract Management & Migration

Whitepaper

Read steps and best practices for legacy contract management & migration

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Brightleaf - IACCM Webinar

Webinar

Watch our webinar on overcoming the challenge of legacy agreements

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Methods to Manage and Migrate your Legacy Contracts

Whitepaper

Read our white paper on methods to manage & migrate your legacy contracts

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Why Human Intervention is a necessity for Contract Review & Abstraction

Whitepaper

Read our white paper on use cases where software fail to abstract & interpret correct information

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Qualified Financial Contracts (QFC) – New Rules

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Read our latest white paper on Qualified Financial Contracts (QFC) – New Rules

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Contract Summarization - What, Why & How

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Benefits of automated contract summarization

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A Glance at GDPR (General Data Protection Regulation)

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Get glance on General Data Protection Regulation

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Steps to a Successful Implementation of a CLM

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Various steps to move towards searchable digital information

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IFRS 16 - New Lease Accounting Standard By FASB/IASB

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Read our white paper on new lease standards IFRS16

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Artificial Intelligence, Data Mining & Contract Extraction

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White paper on Artificial Intelligence, Data Mining & Contract Extraction

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7 Reasons To Load Your Legacy Contracts Into New CLM System

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Read our whitepaper to understand key benefits of migration

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Efficiency Through Contract Management

Industry Brief

Read our industry brief

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OCR? Extraction? Migration?

Whitepaper

To get insight into different technologies and processes read our white paper

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Stepping Stones to Successful Implementation of a CLM

Whitepaper

Various steps to move towards searchable digital information

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Methods to Get a Handle Around Your Contracts

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Our whitepaper explains different methods of managing your contracts

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BT Manages Obligations A Whole New Way

Success Story

Read how we saved this company $400,000.

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Cipla Medpro Gains Better Visibility Into Their Contracts

Success Story

Read how we helped this company organizing their contracts.

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Contract Management Systems and Migration

Whitepaper

Our white paper explains how to establish a sound strategy

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Gain insights into your contracts with automated contract abstraction

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How new technology gives insight into your contracts

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Abstraction Success Stories

Success Story

How 6 corporations are performing abstractions rapidly and affordably.

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Getting The Most From A Contract Management System

Whitepaper

How to upload all your legacy contracts

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Medical Contracts

Sample Abstraction

Download a sample abstraction of hospital consulting agreements.

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