There have been many questions surrounding the automated extraction of meta-data from contracts.
This whitepaper highlights when to use a software-only solution and a full-service firm that extracts metadata from contracts.
Automated metadata extraction – Use AI software or outsource?
Outsourced to specialized contract data-extraction firms –
– Legacy contracts
– High volumes
– Extremely high accuracy
– Complete review by lawyers
– A full-service solution, for new A CLM installation
AI Software solution –
– Third party paper
– Live Contracts
– Smaller volumes coming in daily, after A CLM installation
– Review/checks done by internal staff