NLP for Contracts: 3 Ways NLP can Simplify Your Contract Review Process

NLP for contracts

When it comes to contract review, time is of the essence. The sooner you can identify potential issues with a contract, the less likely it is that they will cause problems down the line. Additionally, given that most Fortune 1,000 companies have between 20,000 to 40,000 active contracts at any given time, solutions that can […]

Contract Redlining: How Contract Software Can Help You

Contract redlining

Every organization can benefit from processing contracts faster. The problem is that traditionally, with speed comes inaccuracy, but that is no longer the case. Contract redlining can now be moved to a more streamlined process that can remove human error and allow more efficient and effective use of human capital, thus saving organizations money in […]

Contract Review Software: How it Can Optimize your Contracting Process

Contract review software

Construction projects are, by their nature, complex. It’s critical for parties entering any construction agreement to prioritize the review and negotiation of their contracts. Contracts form an integral element of any agreement. With more providers offering contract review software, it’s important for every contractor to understand and scrutinize the available contract review tools that can […]

Contract Lifecycle Management (CLM): Improve CLM with AI Contract Negotiation

Contract Lifecycle Management

As a business owner, your business’ success largely depends on its ability to manage contracts and negotiate the best deals for your customers. However, there’s a lot of paperwork involved, and relying on traditional contract lifecycle management (CLM) tools can hinder businesses from realizing their goals for business growth. So this is where contract management […]

AI in Construction: How AI is Transforming Construction

construction contracts

People and organizations spend more than $10 trillion annually on building and construction activities worldwide. In fact, experts anticipate this number to increase by 4.2% by 2023. A large proportion of this amount results from the rapid development of technical developments that affect most components of the construction ecosystem. A 2020 report from McKinsey noted an increase in interest in AI-based […]

The Engineering Contract Review Process: What You Need to Know

Engineer Contracts

Considering the numerous issues that can arise during an engineering project, creating a solid foundation through an engineering contract is essential to reduce liability. Furthermore, your contract must comprise all the key components to offer the best protection against legal problems. So familiarize yourself with them before initiating your project. This blog post will guide […]

The AEC industry: How to Contract Better and Avoid Delays

Construction contracts

The AEC industry is a notoriously difficult one to navigate.  Research by Deltek’s discovered that 66% of AEC firms fail to complete one-quarter of their projects on time leading to significant financial losses.   What’s fascinating about this discovery is that most project delays are not caused by technical issues, but by budget overruns, problems with […]

Construction Contracts 101: Construction Contract Review Cheat Sheet

Construction contract review

The first step toward having a successful construction project begins with creating a detailed contract. It ensures that there is an agreement binding each party, creating a legally enforceable obligation. A solid construction contract protects not only the contractor, but also their clients. Here is a construction contract review checklist with common terms and clauses […]

Manufacturing Contracts: 3 Things to Know About Contract Review in Manufacturing

Manufacturing contracts

Contract reviews are critical procedures in manufacturing, which ensure a comprehensive assessment of staff, legal approvals, and equipment capabilities before the production process. In essence, these contract reviews are a moment of truth for all parties involved and often offer clarity on the terms and conditions of the manufacturing process. However, a simple mistake in […]

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