Category: Automated Contract Abstraction

CEO Blog 9: How do I extract contract obligations? And what do I do with the information?

January 9, 2023 Posted by

Obligations and rights in a contract! Typically, in a contract, there is no specific section with says “Obligations”. Obligations and rights are strewn throughout the contract. Obligations typically say things like “Party will do…”, and “Party shall do…”. Rights are typically outlined as “Party has the right to audit….”, “Customer may extend the agreement…”, “Customer […]

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CEO Blog 1: What is legacy contract migration?

October 26, 2022 Posted by

To kick off the series, let us first start with the simplest question – What is legacy contract migration and why do I need to do it? You are looking to install a Contract Lifecycle Management (CLM) system to get a handle on your contracts, what good is having a great CLM without any data? […]

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What is a legacy contract and approach to manage

August 18, 2022 Posted by

Upgrading your data extraction technology is tough and comes with lots of questions. If you have a CLM system or are preparing to buy one, have you analyzed the importance of the information hidden in your legacy contracts lying in cabinets or shared drives for your new CLM system? In this guide, we’ll cover some […]

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Transforming contract management process with NLP

July 20, 2022 Posted by
As per a study by the Institute for Supply Management, a typical Fortune 1000 company manages anywhere between 20,000 to 40,000 active contracts at any given time. Additionally, there are legacy contracts to add to the number. Keeping track of all of these contracts can be a nightmare if done manually. Using Natural language processing [...] Read More →