contract abstraction

Contract Lifecycle Management (CLM) has become a top priority for C Level Executives worldwide. CLM systems are no longer a “nice to have” initiative, but rather a “need to have” business practice. The efficiencies introduced by an automated contract lifecycle solution are numerous – and, as the name suggests – it addresses the complete lifecycle […]

Getting all your contracts into a Contact Management System means you can manage your contractual obligations and risks. To do this you need reliable information that is both accurate and comprehensive in the database. Any error, such as a different multiplier in a penalty clause, wrong expiry date, or just a missed and not included […]

When you go into a contract management system, from what point in time do you start entering contracts? Most think from today because legacy contracts are too difficult. But that can expose you to risk and lost opportunity. Every contract is important, especially if it contains opportunity or risk. Older contracts have the same essential […]

Wow…what a concept!! Finding money to add to your bottom line that you didn’t know you had. How can that happen?!? Vendor/Supplier contracts, as with many other types, have performance penalty clauses. Often times, these are forgotten because contracts are drafted and filed away and these clauses often times, are forgotten and lost! If you […]

The ultimate goal of automating the contract management process is to lessen the business and reputational risks of corporations by ensuring they comply with the terms and conditions of every contract. Most importantly, automated contract management enables corporations to foresee their rights and obligations, and thus prevents future litigation and its cost. Advantages of automated [...] Read More →

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. On top of that, technology is driving globalization, and the resulting geographic ‘spread’ of business is increasing. This means […]

In my earlier blog, I had given 5 steps to choosing a CLS. Not all CLS’s are created equal. You may first want to see what you require to manage your contracts. What salient information do you really have in your legacy agreements? How does it vary? What’s important to you? Do you want to […]

In my last blog, I mentioned how current laws have not kept current with advances in technology. Let’s now focus on how new technology is playing an increasingly important role in Big Data. In the corporate world, timely, accurate, and secure access to critical business information is crucial to success. But there is so much […]

Why would anyone take the time, effort, and all the lawyer fees to negotiate and draft detailed, often complex contracts and agreements with vendors, suppliers, and clients, only to file them all into a drawer, never to be looked at again? We at Brightleaf see it all the time. We believe that contract management through […]

As part of our contract intelligence launch, we just published a new white paper entitled “Automated Contract Abstraction – How new technology enables fast, affordable contract abstraction”. We’re getting a lot of kudos from readers. Check it out: Contract Abstraction It teaches how automated contract abstraction helps keep contract management systems up-to-date; reduces risk by […]

We recently launched a new service: automated contract abstraction and analysis. We call it “contract intelligence”. And it’s proving to be a real winner! We’re finding dozens of GC and contract professionals don’t really know what’s in their executed agreements. But they need to know. Even with expensive contract management systems in place, they often […]

OUR THOUGHTS

Category: contract abstraction

Unlocking the Value of Your Existing Contracts

What Six Sigma really means in contract attribute extraction for Contract Management Systems

The wisdom of capturing all your legacy contracts, not just those from today forward

Find money in your contracts

Automated Contract Management

Technology, changing the way legal departments operate

Choosing a Contract Management System (a.k.a. Contract Lifecycle System)

Big Data Success is a Trio of Challenges – Storage, Abstraction and Analytics

The big black hole

Brightleaf’s Free Industry Report

Brightleaf Abstraction Gets Traction