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###### Webinar
## Risk Scoring for your Contracts
Watch the Brightleaf webinar on “Risk Scoring for your Contracts” to learn more about the approach to define and categorize the contract risk and find Standard v/s non-Standard clauses.
### Key Takeaways
* Learn what is Risk Scoring
* Learn about the risk that is associated with different terms and clauses
* Process and best practices for assigning risk scores for your contracts
###### Access the webinar by filling out the form below
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Brightleaf provides a AI-powered service to extract data from your contracts with extreme accuracy.
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## Assign risk scores to your contracts by comparing the negotiated clauses to your standard clause library
When negotiating contracts, your standard clauses could have been changed, increasing the risks for you. This webinar will show the method to use AI software to assign risk scores to your contracts by identifying the deviations of the negotiated clauses from your standard ones.
## Preparing for a Successful CLM Deployment
Watch the Brightleaf webinar on  “Preparing for a Successful CLM Deployment” This webinar will show you the most important aspects of a successful contract lifecycle management (CLM) system implementation.
* Define the use case for your company
* Select the CLM system
* Configure the CLM system
* Identify the contracts to be extracted
* Define the attributes
* Extract the meta-data
* Migrate into CLM System
## Incorporating contract migration strategies into your CLM roadmap
Watch this webinar and learn about important steps in the contract lifecycle management (CLM) implementation process – Contract Data Migration and understand why migrating legacy contract data is key to CLM businesses.
* Needs for contract migration
* Things to focus on while planning contract data migration
* Getting your arms around volumes.
* Resource requirement evaluation for contract data migration project
* Steps forward…
## The Recipe for a Successful CLM Implementation
Implementing a CLM isn’t the end of the journey, it’s  just the beginning! And, if you don’t get off to a good start, it could be a rocky road ahead.
Listen to Samir Bhatia, Founder, and CEO of Brightleaf, and Tara Goldberg, Director of Professional Services at Malbek to discuss fundamental best practices for organizations at the beginning of their CLM implementation journey.
* CLM Readiness: Establishing clear processes & responsibilities for CLM deployment.
* Organizational Objectives: Setting realistic goals for your CLM success.
* Tracking ROI: Identifying metrics & KPIs that clearly measure long-term value.
* Contract Migration: Understanding the purpose of digitizing your legacy contracts & the business impacts.
What is your job function?GC or CorporateCounsilContractProcurementothersWould you like us to show you our automated abstraction?YesMaybeNoSubmit!
# Why Brightleaf Goes Beyond Traditional CLM AI: Unlocking Deeper Contract Insights
In today’s data-driven world, Contract Lifecycle Management (CLM) systems often incorporate some form of Artificial Intelligence (AI) to streamline workflows. However, these built-in AI solutions might not always be enough to unlock the true potential of your legacy contracts. That’s where Brightleaf steps in.
### **Limitations of Traditional CLM AI:**
* **Limited Focus:** Many CLM AI features primarily concentrate on automating basic tasks like contract routing, redaction, or due date reminders. While helpful, they don’t delve into the rich data buried within your contracts.
* **Pre-defined Templates:** Traditional CLM AI often relies on pre-defined templates to extract data, which can be restrictive for complex or non-standard contracts.
* **Black Box Functionality:** Some CLM AI solutions function as a “black box,” making it difficult to understand how they arrived at specific data points, limiting transparency and trust in the process.
### **Brightleaf: A More Powerful AI Approach**
Brightleaf offers a distinct advantage over traditional CLM AI with its specialized focus on legacy contract migration and data extraction. Here’s how Brightleaf goes beyond:
* **Deep Contract Understanding:** Brightleaf’s AI is specifically trained to understand the nuances of legal language and contract structure. This allows for accurate data extraction even from complex and varied legacy contracts.
* **Customizable Extraction:** Brightleaf offers a configurable approach, allowing us to tailor data extraction to your specific needs. Data points can be configured to meet your requirements, ensuring you capture the most valuable insights from your contracts.
* **Actionable Data Extraction:** Brightleaf goes beyond simple data extraction. It transforms extracted data into actionable insights that can be used to improve decision-making, optimize workflows, and identify potential risks within your contracts.
### **Unlocking the Hidden Value of Legacy Contracts**
By leveraging Brightleaf’s Legacy contract migration/data extraction services with advanced AI capabilities enabled, you can unlock the hidden value trapped within your legacy contracts. This valuable data can be used for:
* **Identifying Contractual Risks:** Proactively discover hidden clauses or obligations that could pose future risks.
* **Improving Contract Negotiations:** Gain insights into past contract terms to inform future negotiations and secure better deals.
* **Streamlining Contract Management:** Effortlessly locate key information within contracts, enabling faster retrieval and improved contract management processes.
### **Conclusion:**
While traditional CLM AI offers basic automation benefits, Brightleaf takes a more comprehensive approach. Brightleaf’s specialized AI empowers you to extract deeper insights from your legacy contracts, transforming them from static documents into a strategic asset for your organization.
**Ready to unlock the true potential of your legacy contracts?  Brightleaf today and see how our AI-powered solutions can empower your business.**
# Streamlining Healthcare Research Contracts: Data Extraction Solutions
Research institutions, pharmaceutical companies, and healthcare providers are at the forefront of advancing medical knowledge and improving patient care. Their collaborative efforts often involve the creation and management of research contracts, which are essential for conducting clinical trials, research studies, and various collaborative projects. These contracts play a pivotal role in outlining the scope of the research, funding arrangements, and data-sharing agreements. However, in the ever-evolving landscape of healthcare and research, there arises a critical need for efficient contract data extraction and migration services. In this blog, we will explore why healthcare research contracts necessitate these services.
#### The Complexity of Healthcare Research Contracts
Healthcare research contracts are highly detailed and complex documents. They encompass a wide range of information, including:
* Project scope and objectives
* Funding details and payment schedules
* Data-sharing and intellectual property rights
* Research methodologies and protocols
* Compliance with ethical and regulatory guidelines
Given the intricate nature of these contracts, it is not uncommon for them to span multiple pages, with numerous clauses, terms, and conditions. Involving multiple parties further heightens the complexity, such as research institutions, pharmaceutical companies, government agencies, and healthcare providers, each with its own interests and obligations.
#### The Importance of Data Accuracy
Various reasons underscore the vitality of accurate and up-to-date contract data:
* **Regulatory Compliance:**Healthcare research is subject to stringent regulatory requirements. Ensuring that all research activities comply with these regulations is a top priority. Inaccurate or outdated contract data can lead to non-compliance, which could result in legal repercussions, project delays, and damage to an organization’s reputation.
* **Financial Accountability:** Funding and financial details within research contracts must be meticulously managed. Errors or discrepancies in these details can lead to financial losses, misunderstandings, and disputes between parties.
* **Data-Sharing Agreements:** Data-sharing is a fundamental aspect of healthcare research. Contracts define how data will be collected, shared, and protected. Ensuring a clear understanding for researchers and institutions hinges on accurate data.
* **Efficient Project Management:** Clear and up-to-date contract data is essential for effective project management. Researchers, sponsors, and participating organizations rely on contract terms to guide their actions and responsibilities throughout the project’s lifecycle.
#### Challenges in Contract Data Extraction and Migration
Research contracts are typically stored in various formats, such as paper documents, scanned PDFs, and electronic files, often with inconsistent structuring and terminology. Extracting essential data from these contracts and migrating it into a structured and accessible format can be a time-consuming and error-prone process when done manually.
This is where contract data extraction and migration services come into play. These services utilize advanced technologies like Natural Language Processing (NLP) and machine learning to automate the extraction of critical contract data, such as project start and end dates, payment terms, and data-sharing provisions. Such services offer numerous benefits in the healthcare research domain such as:
* **Efficiency**: Automation significantly reduces the time and effort required for data extraction and migration, allowing researchers and administrators to focus on their core tasks.
* **Accuracy**: By minimizing the risk of human error, automated extraction services ensure that contract data is accurate and up-to-date.
* **Compliance**: Automation tools can be programmed to flag potential compliance issues, enabling proactive resolution of any discrepancies.
* **Data Accessibility**: Digitized and structured contract data is easily accessible and searchable, promoting better project management and decision-making.
* **Cost Savings**: By streamlining data extraction and migration processes, organizations can reduce operational costs and improve overall efficiency.
#### Conclusion
In the complex world of healthcare research contracts, the need for efficient contract data extraction and migration services cannot be overstated. These services empower research institutions, pharmaceutical companies, and healthcare providers to manage their contracts with accuracy and compliance, ultimately contributing to the success of their collaborative projects and the advancement of medical knowledge. Embracing automation and technology in contract management represents a logical and strategic step forward as the healthcare and research landscapes evolve.