Key takeaway: Contract migration is a five-stage process – scan, OCR, extract, upload, ingest but the software and steps matter less than the accuracy of the extracted data. A migration that skips verification, excludes expired contracts, or fails to link masters to amendments will produce a CLM with unreliable reporting, regardless of which stages were […]
All you need to know about legacy contract migration Read More »
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
CEO Blog 1: What is legacy contract migration? Read More »
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
Legacy Contract Data Extraction: Software, Manual or Both? Read More »
We’re seeing new flavors of technology impact just about every part of our business lives. The practice of law is affected as well: new technology is profoundly changing the way law firms and legal departments operate. Technology is driving globalization and is resulting in the geographic ‘spread of businesses’. This means closer monitoring of laws
Tech trends for legal departments Read More »
2020 was an extremely challenging year for industries. Everything went virtual, customers have shifted from physical stores to online portals for daily needs, and people meeting, learning, exercising, and even dating have gone virtual. Cloud computing has come a long way in providing organizations with better and more efficient ways to manage their businesses. COVID-19
Embrace contract management with cloud technologies Read More »
In today’s rapidly evolving business landscape, efficient contract management is a critical factor for success. Organizations of all sizes handle a multitude of contracts, each brimming with valuable data. Extracting this data, especially metadata, is a challenging and time-consuming endeavor. In this blog, we will take you on a journey through the transformative landscape of
Reimagine your business with contract metadata extraction Read More »
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
2021: Get set for a year of more Digital and more Artificial Intelligence Read More »
A General Counsel’s role is no more giving legal advice to the company, it has evolved more than this. They need to make the business model as resilient and flexible as possible. As a company grows the number of contracts also grows. It becomes very important for a GC to spend time analyzing the company’s
GCs to completely rethink the approach to manage contracts Read More »
Contract summarization plays a crucial role in contract management, helping organizations quickly extract key terms, obligations, and risks. Depending on business needs, companies can choose between manual, automatic, or hybrid summarization methods. Each approach offers distinct advantages, whether prioritizing accuracy, efficiency, or scalability. Manual Summarization This is the most common and traditional way of summarizing
Understand different ways to do contract summarization Read More »
