How to make contract legal management systems more productive?

[vc_row][vc_column][vc_column_text]The more robust systems allow you to track dozens of attributes, the important, sometimes critical data contained within your contracts. Without tracking attributes, you will not be able to make full use of your investment in these systems. As an example, if you do not extract and track basic things like the expiration date, how […]

How to make contract legal management systems more productive? Read More »

Contract Lifecycle Management (CLM) is becoming a “need to have” priority for firms

Contract Lifecycle Management is no longer a “nice to have” initiative, but rather a “need to have” business practice. With a direct impact on both revenue and expenses as well as the risk profile of a company, many businesses have an elevated interest in implementing automated solutions. The efficiencies introduced by an automated contract lifecycle

Contract Lifecycle Management (CLM) is becoming a “need to have” priority for firms Read More »

Ways to adhere risk management

Prioritize- set your priorities, knowing things makes it easier to focus on the right information. Set your score points to quantify the vulnerability of risk and its impact on business. This will set your priorities for business activities, financial activities and other facets. Regulatory alerts – Making a clear summary of what needs to be done; deadlines,

Ways to adhere risk management Read More »

Data extraction from contracts – in-house or outsourcing to a specialized firm

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 »

CLM system and Benefits

Contract Lifecycle Management (CLM) systems are the need of time. The very importance of these systems is that they 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. Also keeping your contracts in these systems helps in enabling the

CLM system and Benefits Read More »

Spend Management a strategic business activity

Spend management, is a process of comprehensively managing, optimizing, and controlling the money spent by organizations. It is the contemporary way of managing supplier relationships and identifying money spent on purchases. Spend management encompasses of procurement, invoicing, outsourcing, and supply chain management. Enterprises have larger routine transactions which require a lot of time and effort.

Spend Management a strategic business activity Read More »