contract abstraction - Brightleaf Solutions, Inc.

Legacy Contract Data Extraction: Software, Manual or Both?

Contract data extraction or contract review is a vital step of the contract management process for any business to thrive. In contract management, review means critically analyzing the information present in a contract. The old way of capturing essential data attributes from legal documents has been transformed, thanks to technology. We hear about Artificial Intelligence […]

Legacy Contract Data Extraction: Software, Manual or Both? 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

Capitalize the use of a CLM system post-merger or acquisitions Read More »

Blend of AI with Contract Management System

Artificial Intelligence is fast becoming an essential part of the technology industry, helping solve many challenging problems. AI is the ability to make a computer program or software think smartly and intelligently as humans think. It revolves around the use of algorithms, a set of defined instructions that a mechanical computer can execute. It is

Blend of AI with Contract Management System 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

Tech trends for legal departments 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

Embrace contract management with cloud technologies 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

2021: Get set for a year of more Digital and more Artificial Intelligence Read More »

GCs to completely rethink the approach to manage contracts

A General Counsel’s role is no more giving legal advice to the company, it has evolved more than this. They need to make the business model as resilient and flexible as possible. As a company grows the number of contracts also grows. It becomes very important for a GC to spend time analyzing the company’s

GCs to completely rethink the approach to manage contracts Read More »

Understand different ways to do contract summarization

Contract summarization plays a crucial role in contract management, helping organizations quickly extract key terms, obligations, and risks. Depending on business needs, companies can choose between manual, automatic, or hybrid summarization methods. Each approach offers distinct advantages, whether prioritizing accuracy, efficiency, or scalability. Manual Summarization This is the most common and traditional way of summarizing

Understand different ways to do contract summarization Read More »

Why the hybrid solution is better than owning software for contract data extraction

Data Extraction from contracts The old way of capturing essential data attributes from legal documents has been transcended, thanks to technology. It is difficult to achieve very high accuracy from software and consistency from manual methods. Yet we hear about Artificial Intelligence (AI), we hear about Machine Learning software systems and other new technologies for

Why the hybrid solution is better than owning software for contract data extraction 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

Contractual Breaches: secure yourself from a probable negligence Read More »