Posts about Contract Management

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How AI in the Legal Sector is Improving Contract and Sales Velocity

January 12, 2023

Contract Lifecycle Management (CLM) is more than just one of this year’s hottest buzzwords. It’s a paradigm shift that is taking place across corporate legal departments at a rapid clip due to desired efficiency in manpower and profitability. Contracts form the basis for all commerce, representing risk as well as opportunity. Companies that use the right technology—particularly Artificial Intelligence (AI) systems—will have a significant advantage over their competitors, moving deals faster and more effectively through their sales pipeline. But when it comes to leveraging AI in the legal sector, where should a company begin? 

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Benefits of Accelerating Contract Management in SaaS

January 3, 2023

Contract Lifecycle Management (CLM) software is often positioned as the cure-all for Software as a service (SaaS) company woes, enabling teams to get better visibility into their contracts, obtain analytics to determine performance, or get end-to-end support for various internal processes. 

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NDA Automation and Its Potential Impact on Legal Departments

December 22, 2022

Non-Disclosure Agreement (NDA) automation can be as basic as using drafting templates, clause libraries, and drag-and-drop editing tools to make manual processes easier. But more complex NDA automation can employ the latest in Artificial Intelligence (AI) to run a draft through a system that delivers lawyer-quality markup. These same systems can also intelligently create and leverage Digital Playbooks to guide the review process. Automation may involve risk analysis and contract-forwarding to appropriate parties based on the results. 

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How Can Businesses Leverage AI in Law to Extract True Contract Value?

December 15, 2022

Regardless of industry, there’s no arguing that business has become more competitive over the years. While the barrier to entry for startups has decreased, rising inflation and shifting technology have made it harder for companies to succeed. Earning year-over-year profits is always the goal, yet achieving it requires trimming expenses wherever possible while concurrently pursuing new deals.

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Stages of a Contract Management Process in SaaS

December 1, 2022

Software as a Service (SaaS) reached ubiquity in the early 2000s, yet many businesses are still struggling with how to understand common clauses and negotiate terms in SaaS contracts. As a result, SaaS deals all too often result in copious amounts of back-and-forth negotiation. Worse yet, deals stall and fall by the wayside. 

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What is a Non-Disclosure Agreement (NDA) and When Do You Need One?

November 15, 2022

The demand for non-disclosure agreements (NDAs) has more than doubled over the past two decades. Fifteen years ago, in-house counsel may have handled one or two specific NDAs, but the complexity of modern business demands that nearly every worker, client, or business partner sign on the dotted line before accessing proprietary information. Today, more than one-third of American workers are currently bound by NDAs. 

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What is Contract Analytics?

November 10, 2022

How can organizations ensure that all legal agreements are consistently reviewed for risks and errors? How can legal teams maintain compliance with preferred positioning and successful fulfillment of contractual obligations? What is needed to conserve resources, mitigate risk, and fuel business growth? 

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