Category: contract analysis
Transforming contract management process with NLP
CEO Blog 7: I want to know if my contracts are risky. How do I do that?
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 →
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 4: Can AI software handle it all?
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 →
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 →
CEO Blog 1: What is legacy contract migration and why do I need to do it?
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 →
Ways to extract information out of contracts
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 […]Read More →
Reimagine your business with contract metadata extraction
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 →
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 →
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 […]Read More →
Why there is a need for implementing a CLM solution?
Contract Management The role of contract management is evolving now. It’s not simply filing documents anymore; contract management entails understanding each facet of a contract’s lifecycle to extract purposeful insights. Business with contract lifecycle management efforts in place is able to serve their clients better, resulting in more revenue opportunities from existing and potential clients. […]Read More →