The term “Migration” is used, sometimes loosely to describe getting contracts out of an existing system, or even file folders, into a CLM system. Contract Migration is the process that takes documents from older systems and puts them into a newer system. Scan – Scan the documents from paper to a file on a computer. […]
All you need to know about the contract migration process Read More »
If your organization has hundreds and thousands of contracts flooded around you, I am sure you would miss tracking at least one key obligation out of 100 contracts. This can be due to a lack of reporting abilities in your in-house contract repository system or you never extracted the key elements from your legacy and
Why do you track “Term” from your contracts? Read More »
In our previous blog, we discussed the importance of analyzing the contract from a legal perspective. Now let’s discuss what are the major types of clauses an analyst comes across while analyzing a contract: Standard clauses – As discussed in the previous blog, it is the boilerplate provision that occurs frequently. They are generally consistent
Comparing and Contrasting Contract Clauses – Overview Read More »
Effective access and use of data have changed the way companies are operating their business in this highly competitive and challenging environment. This ever-increasing amount of dynamic data is becoming too much for human processing and analysis. There is so much data being produced that without the help of an automated system this scattered information
Artificial Intelligence & Contract Data Accuracy Read More »
On September 01, 2017, the Federal Reserve Board (FBR) and the Federal Deposit Insurance Corporation (FDIC) finalized the amended rules for qualified financial contracts (QFC) of global systematically important banking organizations (GSIBs) and the US operations of non-US GSIBs. The new amendment concentrates on qualified financial contracts of covered entities, which include: • Swaps and
Qualified Financial Contracts – all you need to know about the final amended rules Read More »
[vc_row][vc_column][vc_column_text]Legacy data is the data from your legacy or your older contracts. These are contracts that have been executed prior to today. They may be current and still relevant or may not be (expired). It is important to track legacy data for the following reasons: Information- much knowledge of the old contracts. This is lost
Benefits of tracking Legacy data from your contracts Read More »
As a company\’s growth graph moves upward, having a Contract lifecycle management (CLM) system in place is the way to manage all your contracts. It is a single unified repository to track contracts better. Reports generated through these systems help businesses to make better-informed decisions. A contract lifecycle management system enables you to: Report and
Takeaways from CLM system Read More »
A unanimous move to protect data from cyber attacks and breaches, GDPR is a regulation and not just a directive, that has to be followed by all the organizations operating within Europe, European residents as well as all Non-European organizations trading with European nationals or companies. This regulation will bring a new set of requirements
GDPR – compliance which cannot be overlooked Read More »
Technology companies today operate in immediate real-time, an environment that is dynamic and ever-evolving. Managing the risk/reward of contract obligations in technology organizations ensures staying in business, and growing rapidly. So, the question is: How do you structure all your disparate contracts with their attachments so that you have the ability to use them for
Monitoring various legal, and financial risks within contracts is definitely a need for the day and migrating abstracted data into a CLM to monitor and manage your contracts is the focal point of the process. Organizations can have a number of legacy contracts residing across the company divisions, shared folders, and other repositories, which might
Benefits of migrating contracts into a Contract Lifecycle Management System Read More »
