TL;DR
- Manually tracking complex contract deadlines and deliverables is exhausting and leaves organizations vulnerable to compliance risks and missed milestones.
- CobbleStone's AI Contract Obligation Tracking automates this governance by scanning documents and quickly converting hidden commitments into actionable tasks, improving contract lifecycle management (CLM).
- Users can easily extract, filter, and track key obligations, saving time and reducing operational risk.
What's the Problem with Manual Contract Obligations?
When it comes to contract obligations, it can seem "darned if you do, darned if you don't": On the one hand, manually reviewing complex contracts for critical deadlines and deliverables is an exhausting, time-consuming process. On the other hand, leaving those commitments buried deep within pages of legal prose poses a massive risk, where a single missed milestone can easily trigger fractured vendor relationships or compliance penalties.
Fortunately, you can eliminate this manual oversight and safeguard your organization with CobbleStone's new automated obligation detection and task creation feature powered by our proprietary VISDOM® AI. This powerful capability automatically scans your legal documents, highlights key requirements, and quickly converts them into actionable tasks, virtually ensuring no critical commitment ever slips through the cracks again.
How Does CobbleStone's AI Contract Obligation Tracking Help?
Key capabilities of CobbleStone Software's AI Obligation Tracking include:
- Automatic obligation detection: VISDOM highlights potential obligations within your documents.
- Centralized obligation tracking: Detected (and manually added) obligations appear in a new “Obligations Found” section on the record.
- Actionable follow‑up: Obligations can trigger tasks or updates based on your configured rules.
- Flexible review: You can review, edit, add, or save only the obligations that matter to you.
Why Use CobbleStone's AI Contract Obligation Tracking?
With CobbleStone AI Obligation Tracking, you can:
- Save time: Automatically find obligations instead of manually reviewing lengthy documents.
- Reduce risk: Help ensure key commitments and deadlines are clearly captured and tracked.
- Improve consistency: Standardize how obligations are identified and managed across records.
How Do I Use CobbleStone's AI Obligation Tracking
The process of using CobbleStone AI Contract Obligation Tracking is simple.
The feature is available in two locations.
Let's start by accessing the feature from any Contract Details page in the Pricing & Obligations or Subtables tab. Once located, click the VISDOM Find Obligations button.
Once you click the button, you will be prompted to select, via a dropdown list, the agreement from which you want to extract obligations.
Next, you will see the Obligation Extraction page, complete with:
- the extracted obligations with an assigned party, an assigned type, a confidence percentage, and the field(s) that will be updated.
- a preview of the contract document.
- filtering options by party and obligation type.
Once you save and continue, you can see a list of all the obligations that VISDOM automatically extracted!
This functionality extends to the Files/Attachments area of the Contract Details screen as well. Just click on a document's toolbox, and you will see the button!
Want to see AI-powered contract obligations and other leading CobbleStone® features - such as AI clause libraries, surgical auto-redlining, and more - in action?
Book a free demo of CobbleStone today! It's free - and risk-free.
*Legal Disclaimer: This article is not legal advice. The content of this article is for general informational and educational purposes only. The information on this website may not present the most up-to-date legal information. Readers should contact their attorney for legal advice regarding any particular legal matter.
