Information silos and the age-old manual processes form the root of all challenges in Contract Lifecycle Management (CLM).
Contract Migration is fundamental to resolving all the challenges experienced by organizations in Contract Lifecycle Management. So, how can you benefit from the migration?
- Build a unified repository for better visibility of contracts’ performance
- Enable defined access for a seamless collaboration
- Retrieve evidence-based data for generating new contracts
- Create a custom contract approval workflow to expedite the complete process
- Seamlessly track contracts to stay informed on the key milestones
- Schedule regular audits to ensure utmost compliance
- Gain real-time insights at the click of a button
- Make huge savings on time and money
Learn how we can help your business
Migrating your contracts with Cenza
A time-tested approach comprising a comprehensive workflow to discover, process, and upload contracts!
That’s our guarantee! Working with Cenza, you will be leveraging our expertise and experience gained from assisting global organizations in an effective Contract Migration over two decades now. Here is a bird’s-eye view of our migration.
We use a proven approach to search through every possible source where a contract might reside, assimilate them, and run a de-duplication to remove redundant files.
We involve lawyers in the loop to ensure the accuracy of the contracts against the specified business rules, especially for the hand-written attributes.
Optical character recognition (OCR) – We leverage the best of technologies to convert the contracts in PDF format to machine-readable text, compatible with your chosen CLM system.
Contract Data Normalization:
It is a significant quality process in contract data management, which involve cleansing and standardization of all data fields to ensure consistency across the repository.
With the aid of robust AI tools and experienced specialists, we build a repository of contract metadata for optimal reviewing, sorting, and effective tracking by the system.
We leverage the Smart Import functionality for uploading the extracted contract metadata in bulk and tagging them against the relevant contracts to enable improved searchability.
Versatile expertise: Our Contract Migration team comprises experts in various facets of the process. This allows us to precisely deliver your expectations.
Speed: With a well-defined process and experienced resources, we ensure adherence to the scheduled timelines, every time.
Security: Our information system is Security & Quality certified for ISO 9001 & ISO 27001. In addition, we offer an AWS-hosted contract review solution to enable 24×7 access to the contracts and metadata within the preferred region.
Trust: We are known for surpassing quality expectations in everything we do. 99% accuracy in Contract Management & Abstraction services, and 100% compliance in Quality Audit stand as a tall testimony to our focus on quality.
How Contract Migration benefits your business?
World Commerce and Contracting (WCC) reports Poor contract management costs businesses an average of 9% of their annual revenue. This data is a straightforward illustration of the merits of adopting Contract Lifecycle Management. But for a CLM system to deliver the expected results, it should be loaded with every contract existing within your enterprise system. This is the reason for elevating Contract Migration as a sought-after service by organizations that are beginning their CLM journey.
The result of a multi-faceted contract migration is a CLM system with a comprehensive repository of contracts conforming with the system’s operations. Therefore, it is ideal to say that Contract Migration is the first step towards getting a CLM system live and functioning.
What constitutes an effective CLM migration?
Watch our end to end contract migration video
Accurate contract migration with trusted metadata
“Cenza was an essential partner for us as we migrated to our new CLM. Because of their strong expertise in the tool and constant communication, the contracts migration process got executed with speed and utmost quality. Legal Operations Manager, Everlaw”
Migrate legacy and go-forward Contracts onto your CLM with Trusted Metadata with Cenza. Our experienced contract specialists, robust quality assurance mechanism, best-in-class technology, and certified data security practices –enable Cenza to facilitate cost-effective CLM adoption
What do our customers say?
Leveraging our Consulting Services for Contract migration
The decision to deploy a Contract Lifecycle Management system is strenuous but you cannot exempt it considering the business benefits it offers. However, the intricacies involved must have been deferring your decision to implement a new CLM system. It need not be the derailing factor anymore! Talk to our CLM Migration Consultants to gain better clarity on the process and the next course of action. We will provide a set of recommendations tailored for your organization, such as:
- Selection and configuration of the contract data fields to be extracted
- Facilitating the contract collection from different disparate sources
- Validating all documents to ensure they are complete and valid
- Linking dependent contracts for a hassle-free tracking
- Extracting contract metadata to enable easy upload onto the CLM system
Frequently requested Record Property List by clients
|Counterparty Name||Effective Date||Automatic Renewal||Contract Expiry Date (mm/dd/yyyy)||Contract Term|
|Payment Terms||Governing Law||Contract Total Value||Contract Type||Termination Notice Period|
|Assignment Clause||Limitation of Liability||Contract Status||Logo/Marketing Rights||Autorenewal Opt-Out Notice Period|
|Counterparty Address||Contract Title||Termination for Convenience||Indemnity||Exclusivity|
|Termination for Cause||Venue||Change of control clause||Insurance clause||Non-Solicitation|
For more details, speak to Our Contract Migration Consulting expert.