In the fast-paced world of manufacturing, efficient procurement, and contract management are vital for smooth operations and maintaining strong vendor and service provider partnerships. However, manually extracting contract data from variety of sources, including vendor contracts, labor contracts, and manufacturing service level agreements, can be a tedious and error-prone process. To overcome these challenges and […]

Read More →

The healthcare industry generates and stores vast amounts of data every day including patient records, medical history, diagnoses, treatment plans, and outcomes, and the extraction of such data from medical records is a crucial task that allows healthcare providers to access and analyze relevant information about patients. This information can be used to improve patient […]

Read More →
There is so much talk about ChatGPT. A really revolutionary pre-trained AI model! So you wonder, can I use it for doing all my work for legacy contract data extraction including a matchup of masters with their amendments, removal of duplicate documents, removal of unsigned and unwanted documents, etc.? One way to look at it [...] Read More →

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 […]

Read More →

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 →

Aaah – a loaded question. There is much talk about software telling you if there is risk in your contracts. Well, what is a risk to you? That would be different than a risk to another company or someone else. To you, if the limitation of liability is capped to 2x the spend by the […]

Read More →

The larger the company, the more the contracts – that is a given. The larger the company, the more divisions. The larger the company, the more these divisions work in silos. All companies run on contracts – buy-side and sell-side. When moving to a new enterprise or contract management lifecycle system no one wants to […]

Read More →

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 →

This is the fourth 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. This is the most asked, if not, assumed (as yes) question! And a very pertinent one. AI Software is a necessary condition […]

Read More →
As part of the legacy contract migration/data extraction series of blogs, here is the 3rd one of the series. Can I extract and track my business-specific information? But of course! In fact, 30-40% of the information Brightleaf extracts is our clients’ business-specific information. To give an example, for a Class 1 Railroad company, we extracted [...] Read More →

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 →

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? […]

Read More →

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 […]

Read More →