When people plan a contract management system, their immediate concerns tend to focus on finding their contracts and reporting on standard metadata, including contract owner, contract status, and renewal date. A centralized repository takes care of the first need. Configured reports set up for specific contract metadata address the second need. But beyond standard contract […]

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To continue operating profitably is always the primary focus of any enterprise. In today’s competitive corporate environment, the ability to effectively manage contracts is essential to surviving in the marketplace and achieving success. At different points in our lives, each of us would have or will, without exception, sign a contract. However, have we ever […]

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Lease extraction The process of retrieving relevant data points from your lease contracts can have a huge impact on your organization if not tracked properly. A summary of your lease contracts at your fingertips can save you time, money and mitigate the risk associated with non-compliance. The process of reviewing lease data for say asset […]

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Contracts are an integral part of any business relationship and staying on top is critical. Automated abstraction gives legal, contracts, and procurement professionals the ability to efficiently and cost-effectively abstract key information from their contracts and improve how they manage contractual obligations. Contract data abstraction means extracting important data points which include clauses, dates, and […]

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Extracting key data elements i.e. metadata from contracts is not an easy chore.  Done manually, you would need to open each and every contract (which in itself is a time-consuming task), search through the full document for many different types of language, and copy and paste it into a tool like Excel. What is Metadata? [...] Read More →

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 […]

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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 […]

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Have you updated the Force Majeure clause with COVID-19 in your existing contracts? If not, this is the best opportunity to modify the existing clause in all your legacy contracts and include it in future contracts. Force Majeure clause is one of the important clauses to include in a contract that relieves the parties from […]

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It’s important to be on top of your contracts and have all the relevant documents in place. It reduces the chance of missing the relevant and documents that are of high importance and saves time and effort on the documents that are not relevant. As a company growth graph moves upward, having a contract lifecycle […]

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Big data is an extremely large set of data that primarily consists of three characteristics volume, velocity, and variability which require storage, interpretation, and analytics to figure out the meaning. Here, data sources could be anything like social media comments, tweets, sensors, health records, smartphones, and on and on. Deep down this data has a […]

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