CEO Blog 8: What are the best practices for legacy contract migration/data extraction?
Not sure where to start? We’ve curated the best legacy contract migration/data extraction practices to get you started It’s important to cover the best practices, partially covered in the previous blogs. 1. Decide which contracts you want to migrate 2. Decide what data points you want to report on across a set of these legacy contracts 3. Set […]Read More →
CEO Blog 5: I have 300k documents! What do I migrate into a new CLM system?
Again, a frequently asked and pertinent question This is the fifth of a ten-part series on contract migration and related data extraction, which will help your legal teams gain a better understanding of the information included in all of your contracts. The first reaction is that EVERY document and EVERY data point needs to be […]Read More →
CEO Blog 3: Can I extract and track my business specific information?
CEO Blog 2: What attributes do I extract and ingest into a CLM during the legacy contract migration process?
The first part of the series covered, what is legacy contract migration and why do I need to do it? Here we will discuss the next/second question that is asked very often too, what attributes do I extract and ingest into a CLM during the legacy contract migration process into a CLM? There is no […]Read More →
Extracting essential data points from your leases
Lease extraction The process of retrieving relevant data points from your lease contracts can have a huge impact on your organization if not tracked properly. A summary of your lease contracts at your fingertips can save you time, money and mitigate the risk associated with non-compliance. The process of reviewing lease data for say asset […]Read More →
Contract Data Abstraction : 4 Signs to know if you need it
Contract data abstraction means extracting important data points which include clauses, dates, and meta-data from your contracts. Abstracting essential information from your contracts will help you manage and identify existing contractual commitments. Additionally, this will enable you to analyze risks, obligations, and opportunities to avoid potential legal disasters. 80% of corporate legal professionals say that […]Read More →
Capitalize the use of a CLM system post-merger or acquisitions
Once your company is ready to be sold your whole focus is shifted to restructuring a whole new business system. It includes certain activities which need to be taken care of such as what the company is buying and what obligations it is assuming, the nature and extent of the target company’s liabilities, contracts, litigation […]Read More →
Tech trends for legal departments
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 […]Read More →
Embrace contract management with cloud technologies
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 […]Read More →
2021: Get set for a year of more Digital and more Artificial Intelligence
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 […]Read More →
Empower your contracts with Brightleaf new API integration for seamless contract management process
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 […]Read More →
Understand different ways to do contract summarization
Manual Summarization This is the most common and traditional way of summarizing contracts; it is best suited when summarization needs close attention from a legal expert to provide detailed and tailored results. It can be undertaken immediately with the help of an in-house legal expert. This is an easy and valuable way of summarization when […]Read More →
Contractual Breaches: secure yourself from a probable negligence
What is a breach A breach is an unjustified failure to perform the terms of a contract. It could include any kind of failures such as failure to deliver services, failure to perform the job, failure to pay on time, and many more. Contracts are usually made in order to formalize an agreement and to […]Read More →