It’s no secret that contracts data quality is a problem and that companies are leaking up to 40% of value in their contracts. 80% of the F500 executives agree.
To get the answers you want from your contracts and to drive your goals, you need easy access to that information. Firstly you need to find the contract you want and then be able to use the information within it.
Contract Data as a Service uses a combination of technology, artificial intelligence and human review by experts to turn complex contract legalese into 1,300+ structured datapoints.
The result is a platform that provides digestible insights for making informed business decisions, ensuring compliance, reducing risk, and creating value for your organization.
Innovation fever is gripping the law department and virtually everything is up for modernization, including the tried-and-true: contract. Download our step-by-step guide to turn contracts into data points to drive strategic decision-making.
Contract Data as a Service provides accurate intelligence that empowers your teams to:
Proactively manage obligations and rights. With structured data about the positions in your contracts, you can easily identify where specific obligations and rights exist and define additional data to help proactively manage them.
Integrate contract data into the enterprise. Facilitate enterprise determinations of risk and value by combining contract data with other enterprise systems and data, integrating contract data into the broader data management framework.
Conduct more informed negotiations: Enter negotiations empowered with detailed insights of past results across contract types, counterparties, and other relevant data to improve results and maximize contract value.
Complete risk assessment of your contracts: Whatever your approach to assessing and grading risk, we’ll create a framework to determine risk scores across contracting results. Easily pull readily available analyses to know exactly where you stand on key issues of risk.
Save time and money: With data from your contracts, be prepared for proactive responses to company-wide challenges, removing the time and costs of individual reviews starting from scratch.
Companies invest millions of dollars to negotiate contracts that manage an even greater amount of value for the organization. However, these enterprises don’t really have visibility into the terms of their contracts that drive revenue, profitability and spend. Contract Lifecyle Management systems attempt to resolve these issues, but time and time again they fall short, costing lots of money as they create more problems.
With Contract Data as a Service, we mine and convert signed contract language into millions of datapoints. That information is then converted into digestible insights that you, and other business teams within your organization, can use to know quickly what’s in your contracts.
The CDaaS models surface critical insights at a granular level against 1,300 unique datapoints, empowering you to convert complex contract data into simple, easy to use information so you can:
Know what’s in your contracts at any time
Proactively manage obligations and rights
Integrate contract data into the enterprise
Conduct more informed negotiations
Reduce risk, administrative burden and exposure
Save time and money