Creating Contract, Request, Bid, PO, Employee, and Vendor Records is unprecedentedly streamlined with Contract Insight's latest update. Drag and drop record initiation is now available out of the box that lets users easily import files from a variety of locations! This tutorial serves as a step-by-step guide to aid in the initiation and configuration of records in Contract Insight’s leading source-to-contract suite. Get started today with better usability and governance over your CLM system.
Artificial intelligence (AI) is already sharpening professional methods across a variety of industries. However, advancements in AI will be particularly advantageous as it applies to contract management systems - if fed a nutritious diet of contract data.
When implementing contract management software, organizations often have copious amounts of contract data that needs to be searched, analyzed, and populated into their new contract management system. Data extraction is a tedious task that can be time-consuming and overwhelming for contract management professionals. Leaving this task to software professionals who are familiar with data extraction, and who use AI technology to streamline data extraction processes, will allow for a better, faster implementation process. Discover five reasons why your organization should choose contract data extraction services.
Because a contract comes with both opportunity and risk, contract management must include both data analysis and risk prevention.
Contractual agreements contain critical information that can have positive and negative effects on an organization. Without procedures in place to identify and monitor contract risk, organizations can be at a disadvantage, possibly leading to higher costs, compliance violations, and, in many cases, unfavorable lawsuits. Learn to prevent these situations by utilizing a strategy to help assess the risk associated with your contracts. Early identification and prevention will allow for you and your team to address concerns early on rather than waiting for negative consequences to transpire.