Contract Insights

This post was originally shared in the Paralegals Connect January 2019 Newsletter

Contract review is a daunting task for paralegals.  In most cases, having an extra set of eyes to review contract terms is critical to ensure no "bad" clauses slip through the cracks.  The duty of reviewing agreement terms and clauses is a time-staking task, making the effort and focus it takes to review contracts priceless to an organization.  Moreover, paralegals bear a great amount of work to complete the contract negotiation and signing process quickly — all while preventing unwanted or risk associated clauses from being overlooked in the contract’s final review.  Having a smart assistant handle contract data extraction, data entry, and contract tracking can be a lifesaver to the busy paralegal and, in many cases, can provide assurance that your organization’s contracts will be mistake proof. 

Manually importing and analyzing contracts can be time-consuming, frustrating, and often results in lost documents or other mistakes.  Having an expert handle data extraction for your organization can provide better results and a seamlessly organized contract repository.  Artificial Intelligence (AI) can detect and prevent predicaments that cause your organization to be at risk.  Learn from this real-world case study how a CobbleStone Software client utilized contract data extraction services and text mining smart tools, transforming their contract management process to be supported with data-driven strategy.

CobbleStone announces its newest release of Contract Insight™ Enterprise Edition Version 17.3.0. Building upon the success of Version 17.2, CobbleStone has included new, smart features throughout multiple modules in the system, and has improved overall capabilities and usability. Users of Contract Insight™ should take advantage of the system update. Upgrading to smarter features will make for superior contract management processes.

Artificial Intelligence (AI) is the (loved and feared) buzzword around technology advancement, organizational growth, and career stability. In this article, you'll discover what the future looks like for contract managers and contract administration.