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Month: November 2018

The Impact of AI on the Legal Profession

As some of you might know – but most of you probably don’t – I am the lead author (along with three tremendous co-authors from the law firm of HoganLovells) of a recent article in the Yale Law School Journal of Law and Technology: Lola V. Skadden. Our article looks at the explosive, exponential growth of Artificial Intelligence (“AI”) and what the law as a profession along with individual lawyers…

Strengthening Privacy Rights with Privacy Enhancing Technologies

More rigorous privacy regulations such as the EU GDPR and a number of US privacy initiatives such as the recently ratified California Consumer Privacy Act impose higher standards on data controllers and processors to safeguard privacy rights – including data subject consent management, accommodating data subject requests, data portability and more onerous data controller and processor accountability standards. Moreover, there seems to be momentum developing for a more comprehensive US Federal Privacy initiative consistent with GDPR.…

So, What Should We Do With Contract Analytics?

Now that we have looked into the power of Contract Analytics as well as the features that we need to make it truly deliver upon the promise of content intelligence, what can we do with it?  We should probably start with the most critical pain points for General Counsel, Procurement and business unit leaders: Contract Discovery: In my experience, the first step of any contract analytics project is simply finding…

Contract Analytics Use Cases: Uncover Unrealized Revenues

There are measurable direct and indirect benefits associated with the application of contract analytics to financial processes such as procure to pay and order to cash.  There are specific areas where finance organizations stand to achieve cost efficiencies and realize incremental profits. Invariably, contracts include price, volume and discount terms.  By gaining better visibility to these contractual terms finance departments may, for example: Match contract pricing and performance obligation clauses…

The Power of Content Intelligence to Transform Contracts into Actionable Intelligence

Now that we have covered the value of contract analytics, and before we get into the specific use cases, it might be useful to take a closer look at the capabilities needed to leverage the power of content intelligence. First, as table stakes for this game, is powerful recognition capabilities.  If your system doesn’t have highly accurate, scalable data processing and document capture solution that intelligently extracts, classifies and serves…

Content Analytics Challenges for Managing Contracts

In this blog series our guest contributor Michael Simon will share his perspectives on the challenges faced by organizations in surfacing business critical entities, attributes and terms within contracts as well suggest solutions that will streamline your obligations analysis and portfolio risk management processes. Contracts are the engine of a business.  They contain critical business intelligence needed to run the enterprise.  Yet, enterprises continue to struggle to do something that…