CLM

Contract Lifecycle Management (CLM) is becoming a “need to have” priority for firms

Contract Lifecycle Management is no longer a “nice to have” initiative, but rather a “need to have” business practice. With a direct impact on both revenue and expenses as well as the risk profile of a company, many businesses have an elevated interest in implementing automated solutions. The efficiencies introduced by an automated contract lifecycle […]

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Data extraction from contracts – in-house or outsourcing to a specialized firm

When clients are dealing with contracts or legacy contracts, NLP/AI technologies can be used to extract salient data points. This data is then loaded into a CLM (Contract Lifecycle Management System). Having good software for the extraction of data is essential, but it is not sufficient if any accuracy is desired. Why is accuracy a

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Are you getting the accuracy you need from your contract extraction services?

To realize the benefits which exist after the contract has been signed, it’s necessary to not only understand the terms and provisions contained in your contract but to capture these for ongoing management. When a contract is signed, most organizations do a good job of tracking the contract’s basic operational requirements (e.g. renewal dates), but

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Challenges in migrating legacy agreements into a CLM system

To gain increased and immediate benefit from contract management systems, it is important to extract and load metadata from legacy agreements. But many find that process costly, complicated, and time-consuming. So what is the best answer? \”Join Brightleaf and IACCM\’s joint webinar on Overcoming the challenge of legacy agreements\”  Click here to register Date: September 20,

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Benefits of migrating contracts into a Contract Lifecycle Management System

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

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Automated Contract Management

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

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