Contract Insights

Efficiency and accuracy are of vital importance when managing contracts. Many organizations fear they may fall behind as more and more of their peers embrace automation through artificial intelligence.

One notable area AI has positively transformed is contract summarization. With the advent of AI-powered contract summarizers, legal operations teams can now optimize contract lifecycle processes like never before. In this blog post, let's explore five ways contract summarization with AI-backed contract management software can change the game of legal operations.

The process of redlining contracts for contract negotiation can be challenging if done improperly.

Organizations that edit documents manually in Microsoft Word can increase the chances of human errors. What’s more, constant back-and-forth edits via emailed documents can result in version control mistakes and broken formats. Mission-critical clauses and sections can either be left out of a legal document or improperly positioned. Additionally, the amount of time spent on tedious, outdated redlining processes can result in lost revenue and opportunities.

Thankfully, your legal team can start saving time on the contract negotiation process with CobbleStone’s user-friendly auto-redlining tool - powered by VISDOM® artificial intelligence. Here’s how to leverage auto-redlining within CobbleStone Contract Insight® contract management software.

In an era where "AI is coming for lawyers," the legal community is abuzz with the question: "Will AI replace lawyers?" The integration of artificial intelligence (AI) in law and legal practice has led to a paradigm shift, raising concerns about artificial intelligence replacing lawyers. However, it's crucial to understand that AI in the legal field is not a harbinger of replacement but a catalyst for transformation. To that end, let’s talk about legal professionals, lawyers, AI, and business innovation.

The use of artificial intelligence is all the buzz right now. From Microsoft Bing’s use of OpenAI’s ChatGPT to Google’s Bard AI Chat Bot - the topic of responsible use of artificial intelligence continues to trend. To add to that, generative artificial intelligence (a useful AI technology feature that generates human-like content) is being reviewed extensively - not only from a usability perspective, but from a legal work standpoint.

Welcome – all of you wonderful contract dorks - to the thrilling new world of contract summary software! Most people would not put “thrilling” and “contract summary” next to one another, but that is simply because they are not legal experts who know just how fun contracts can be!

We're about to explore the groundbreaking utility that will restructure the way you manage contracts in your organization. After all, who doesn't love saving time, reducing contract risk, and improving the efficiency of contract processes? Let’s provide you with some benefits of contract summary software and five tips to help your legal team succeed.

Brave and tame the endless jungle of contract jargon and legalese with NLP-driven contract management! Enjoy a fun and easy way to unleash your business potential for contracts and other legal documents.

Managing documents within an unorganized and insecure document repository can slow down your document management processes and leave your organization exposed to undue risk. Relying on manual and disparate systems - such as shared drives, emails, and spreadsheets – can cause you to fall into document mismanagement pitfalls.  Considering how organizations ranging from small businesses to global enterprises leverage document repositories daily, discover how contract management software can empower you with secure yet flexible document repository tools.

In April 2022, we announced CobbleStone's exciting million-clause initiative to nourish and enhance VISDOM® AI - CobbleStone Software's proprietary contract intelligence engine with machine learning.  In June 2022, we announced that 330K contract clauses had been fed to VISDOM contract AI.  Now, we are thrilled to announce that over 500,000 clauses have been "fed" to VISDOM thus far!  This stage in the momentous 1,000,000 contract clause project is just one of many testaments to why CobbleStone® has been hailed as the leader in contract management software.