www.cobblestonesoftware.com Open in urlscan Pro
2606:2c40::c73c:6702  Public Scan

Submitted URL: http://url7089.contractmanagementsoftware.com/ls/click?upn=7bt2RrNytkW5OD6cB765sRHE-2FevSu9E2T4CqcfnZ2cLDQmc9hQbMqwdKBnQufJUs5FGA_C3mfGVZYLurV...
Effective URL: https://www.cobblestonesoftware.com/blog/streamlined-contract-data-extraction-with-cobblestone?utm_campaign=SendGrid%20Emails&utm_so...
Submission: On January 27 via api from US — Scanned from DE

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CONTRACT INSIGHTS


THE LEADING RESOURCE FOR CONTRACT MANAGEMENT & PROCUREMENT PROFESSIONALS


STREAMLINED CONTRACT DATA EXTRACTION WITH COBBLESTONE®

11/12/21

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 * Share
 * 

Do you have many contracts to extract data from and organize within a
centralized, web-enabled contract management software suite?  Extracting
contract data - especially from hundreds or thousands of legacy contracts - can
seem overwhelming, however, it doesn’t have to be.  Read on to learn how
CobbleStone can help streamline your contract data extraction process in three
easy steps.




 


WHAT IS CONTRACT DATA EXTRACTION?

Contract data extraction is the process of identifying and pulling information
from legal documents - including legacy contracts - that can include key data
fields such as dates, conditions, terms, and provisions.  Robust data extraction
services combine legal data extraction professionals with AI-backed technology
to extract data from contracts and maximize its use within a centralized CLM
software suite.

 

Download Free “Mastering Contract Management” Whitepaper

 


STEP #1 – COLLECT CONTRACT DOCUMENTS & IDENTIFY DATA FIELDS

Extracting data without knowing how many contracts you have and where they are
located can prove difficult. Hopefully, you already have an organization system
in place that can make gathering these documents manageable. Once you gather
your legal documents, you’ll need to determine which data you would like to
extract, including key terms and clauses.


STEP #2 – SEND TO CLM SOFTWARE PROVIDER FOR CONTRACT DATA EXTRACTION

After collecting your contract documents and identifying data fields, send your
documents – electronic and, if applicable, paper-based – to your contract
lifecycle management software provider for processing. Once received, your CLM
Software provider can coordinate services to thoroughly extract data – including
expiration dates, effective dates, addresses, counterparty names, counterparty
types, and key clauses - in bulk.


STEP #3 – MAXIMIZE EXTRACTED DATA WITHIN YOUR CLM SOFTWARE SUITE

Once your data has been successfully extracted by your CLM software provider,
you can leverage it within your CLM software suite to:

 * Simplify contract drafting with your pre-approved contract language library –
   including clauses.
 * Run reports on past and active contracts with the help of graphical
   dashboards.
 * Create new contract records and receive time-sensitive alerts.
 * Manage contract risk with artificial intelligence and a graphical risk
   assessment matrix.
 * Retain end-to-end contract lifecycle management oversight.
   
   

Make Your Case for Contract Lifecycle Management

 


FAST DATA EXTRACTION FOR IMPLEMENTATION ROI WITH COBBLESTONE SOFTWARE

Don’t waste unnecessary time with bulk contract data extraction.  By following
the three easy steps above, CobbleStone Software can provide the services you
need to extract your data in record time and help maximize your contract
lifecycle management within CobbleStone Contract Insight® CLM software.  Whether
you have one hundred or one hundred thousand contracts, CobbleStone Software can
make contract data extraction as easy as one, two, three!



CobbleStone’s trusted, award-winning, fully integrated contract management
software streamlines the contract management process with optimal governance,
reduced friction, and high flexibility from contract requests to renewals. 
CobbleStone Contract Insight has been a visionary leader in CLM software for
over twenty years and is trusted by thousands of contract managers. 
CobbleStone’s user-friendly, robust, and scalable solution seamlessly integrates
with mission-critical applications, including MS Word and MS Outlook, for
unified and seamless contract management.  It’s no wonder why Forrester names
CobbleStone a Leader in CLM software!

Are you interested in future-minded contract management software tools?  Watch
the 6 Critical Contract Management Tools for 2021 video below to learn how to
leverage industry-leading CLM software tools for streamlined, user-friendly, and
low-friction contract lifecycle management success!



To stay up to date on best practices, industry news, and CobbleStone Software
updates, be sure to subscribe to our blog and YouTube Channel.



 

*CobbleStone Software offers contract data extraction as a professional service
and can be priced upon request - based on requirements. Please contact your
CobbleStone Account Manager to learn more.

Contract data extraction services are not legal advice.

Topics: agreement database Contract Data Extraction contract database data data
storage Data Security Data center

WRITTEN BY JOSHUA HANSEN

Joshua Hansen is the Content Marketing Strategist of CobbleStone Software.

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