It is essential to abstract all the critical elements in contracts if you want to be able to reliably search through required information on a computer. You expect to have all the information, not just some because it’s about accuracy and completeness. You can’t afford to miss even one critical element, as that can be […]

Is it your core business or your contracts, that should take your maximum time and effort? With contracts, always in a state of flux, being renewed or newly negotiated it may seem like a good idea at first to buy software for your in-house system. However, you need to buy, install and train and then […]

Contracts come in an endless variety of forms and complexity. Some contracts are dozens of pages long and comprehensible only to those with specialized skills, therefore they are critical. Each and every contract can be different and usually, therefore capturing information hidden in these contracts is not that straightforward. Clauses can be expressed differently in […]

Contracts are all structured and worded differently, attributes can be phrased in different ways, there can be ambiguities and data can be presented in various forms. Most contracts are in text form that is non-computer searchable. So, it needs to be put into a format that a computer can read. You will think of software […]

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 […]