Contract data management is the digital management of contracts across all functions, organizations, and systems. It effectively empowers in-house legal teams to automate their contract management processes and continually extract business intelligence from their contracts, even when they are archived. Ultimately, it supports an organization with clear, actionable insights that generally lead to better decision-making.
A contract intelligence platform is a new approach to Contract Lifecycle Management (CLM) that provides organizations with the ability to dynamically analyze contracts in the context of the systems and processes that drive the business forward.
Contract Intelligence is the use of Artifical Intelligence (AI) tools in contract analysis. The power of AI tools is used to extract valuable business assets from static contracts and can protect all stakeholders from legal issues and contract breach risks, and enhance productivity.
