article thumbnail

Building your CLM system with Contract Metadata

Cenza

And this is very true for contracts and other enterprise legal documents as well. However, the genesis of Contract Management Systems (CMS) has centralized the entire process, starting from storing, organizing, accessing, and reviewing, no matter the location. Contract Metadata – the invisible protagonist.

article thumbnail

An in-depth guide on successful contract migration and CLM implementation

Cenza

Contract lifecycle management (CLM) has not been a straightforward exercise and here’s why it requires expert legal understanding and understanding of information that contains legal language. Finally, legal teams are seeing the value in having an effective contract management process. What’s on offer?

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

AI Contract Drafting Startup Henchman Unveils Microsoft Copilot Integration, Calling It First of Its Kind

LawSites

“Leveraging advanced algorithms and metadata, this synergy facilitates more accurate answers and boosts drafting efficiency, all while tapping into a legal team’s wealth of collective knowledge,” the company says. The integration is available free of charge to all Henchman customers.

article thumbnail

The new hottest segment in legal tech: Contract Lifecycle Management

Cenza

Contract lifecycle management (CLM) has become a hot topic in the legal space; a must-have solution for CXOs looking to get a handle on their legal agreements. Given the shift in legal automation, the adoption and implementation of contract management solutions are gaining significant ground.

article thumbnail

Ironclad Opens A Window Into the Black Box of AI with New Chat Interface for Complex Contract Analysis

LawSites

The contract management company Ironclad today announced plans to launch a chat interface for complex contract analysis that it says will open a window into the black box of artificial intelligence by showing users the steps it took to come to a conclusion. Where most generative AI is a black box, CAI is an open book.”

article thumbnail

Despite All the Hype Over CLM Software, Most Companies Don’t Use It to Manage their Contracts, Survey Finds

LawSites

One of the most talked-about legal technologies of the last few years is contract lifecycle management software. Instead of CLM systems, most companies are using document management systems to store and manage their contracts — systems such as SharePoint, Google Drive, local drives, or commercial DMS products.

article thumbnail

Three Ways Contract Analytics Deliver Value Beyond Corporate Legal

LawTechnologyToday

Their counterparts at law firms have long used business intelligence tools, such as win rates, financial statistics, and document and case metadata. But now, general counsels (GCs) and legal teams need solid insights on resource allocation and budgeting, too. Preferably, one with an AI-powered analytics “brain.” The IT Team.