IDENTIFY LEGAL MATERIAL
Tools for real-world data
Do you know where your legal material lives? How many contracts do you have? Where are your subsidiary operating agreements? Have your sales personnel made binding statements in email?
In our experience, many organizations never realize the benefits of contract analytics because they struggle to locate their contracts. ContraxSuite doesn’t just analyze legal material; it can also identify legal material in the sea of other documents and files in your organization.
- Search shared drives, mail servers, and cloud services
- Automatically identify legal agreements or compliance material
- Ingest and OCR documents from Word, WordPerfect, PDF, HTML, etc.
- Built to process millions of files per day
Automatically group and explore
Once you’ve identified your legal documents like agreements and benefits plans, how do you organize them? Do you put them in categories by agreement type? Do you sort them by counterparty or year? Maybe you group them by practice group or managing attorney.
ContraxSuite takes most of the work out of this process, automatically organizing documents and suggesting labels or groups based on content and metadata. This unsupervised approach can save thousands of valuable hours for organizations, especially at early stages of contract management maturity.
- Cluster legal documents based on content like key clauses or counterparties
- Group legal documents by metadata such as author or date
De-Duplicate and Relate
DE-DUPE AND RELATE DOCUMENTS
Automatically find duplicates, revisions, and amendments
Many organizations use shared drives and emails to store documents like agreements. Over time, however, these systems fill up with exact or near duplicate copies of the same document. When it comes to contract analytics, de-duplication is critical for reporting and analyzing the real risks and opportunities in your data.
ContraxSuite uses clustering and approximate matching algorithms to identify documents that are similar or exactly identical. Furthermore, ContraxSuite can identify common amendment content, allowing organizations to separate “true” duplicates from near-match amendments.
- Locate and consolidate exact duplicate documents based on content and metadata
- Locate and consolidate near-duplicate documents based on content and metadata
- Locate and consolidate amendments with parent or master agreements
Locate key clauses and references
Organizations are increasingly using contract analytics and document review tools to locate key clauses and references. This analysis often focuses on tasks such as validating contract standards like as service level requirements, assignment restrictions, or controlling law and venues.
ContraxSuite allows organizations to quickly apply standard analysis approaches like those used in diligence, lease abstraction, contract review, or compliance consolidation. Furthermore, ContraxSuite is built to allow organizations to train new tools or customize the underlying software. In most circumstances, regular users can teach ContraxSuite to classify clauses without any additional development. However, when required, organizations can “lift the hood” and customize the underlying open-source software to address their own problems.
- Apply out-of-the-box analysis for diligence, lease abstraction, contract review, and regulatory compliance
- Locate key clauses like assignment and change of control, controlling law and venue, and discount or MFC/MFN
- Train new models and clauses with regular users – no development required
- Customize the underlying open-source software when desired
- Own your own models and data
Extract key terms and facts
What is the average term of your supplier agreements? What is the most common jurisdiction for dispute resolution? How many contracts would be affected by a change in HIPAA regulations or EU data protection directive? If you can’t answer these questions, then your contract management program still has room for improvement.
ContraxSuite allows organizations to extract key terms and facts, including dates, financial or monetary amounts, rates, company entities, geopolitical entities, financial indices or benchmarks, and regulations.
- Extract key facts like addresses, dates, durations, distances, PII, and URLs
- Extract key financial terms like amounts, money and currencies, percents, rates, and ratios
- Extract key legal terms like governing law, jurisdictions, courts, regulators, copyrights, trademarks, and citations
Visualize & Export
VISUALIZE AND EXPORT
Generate reports and export data
ContraxSuite allows users to easily export and visualize the results of tools, like maps that show contracts by country, spreadsheets with termination dates, clusters of similar agreements, or spreadsheets with master agreements and SOWs.
- Export all results to Excel, PDF, or Tableau
- Integrate results into external systems using API
- Visualize results using charts or maps