Contracts are the lifeblood of business. But as companies grow in scale and complexity, so too does the volume of throughput that needs to be managed.
- Migrating legacy contracts into database systems
- Clause extraction to enhance access to key information
- Due diligence contract review
- Tools for contract drafting, redlining & revision
- Negotiation & Management Support
- Advanced tools to streamline compliance & administration
- Contract auditing
- Contract abstraction
- Contract document formatting and hyperlinking
Cenza provides end-to-end contract management support and services, across the whole contract lifecycle, from negotiation and revision to due diligence review. We have the tools, technology and workflow expertise to help you rationalize the contracting process and enhance the management of data through all phases of business activity. We help clients build & maintain contract databases and we provide tools to help them manage contract creation, revision, renewal and compliance in the ordinary course of business. With 18 years of experience as an LPO partner, we are equally adept directly assisting corporate law department or providing support to third party service providers. Our deep domain expertise in law, financial services and diverse industry sectors, combine with our process & engineering skills, is what gives us the know-how to provide a solution for the most large-scale and time-sensitive contract management assignments.
Essential Information needed by your business often resides in executed legacy contracts. But there is no easy way to access this information when it’s needed most. Identifying key information within thousands of contracts requires a resource-intensive, manual abstraction process that is often time consuming and very expensive. Often, even the most sophisticated contract management systems are incomplete or have erroneous legacy contract information and rarely track all the important provisions across all your contracts.
Cenza’s contract abstraction and migration service is a technology-enabled service that automates the entire process of abstracting information from all your legacy contracts. We utilize AI & ML to perform automated contract abstraction and migration with greater speed and efficiency. We offer the ideal solution combining AI with skilled lawyers to:
- Abstract the key terms and provisions across all your legacy contracts
- Perform multiple levels of quality control by our team of lawyers to deliver highly accurate results
- Deliver extracted meta-data output in any format suitable to load onto your Contract Lifecycle management (CLM) software
Our dedicated team of expert lawyers reviews and performs a robust quality assurance process to deliver end-to-end, highly accurate, extracted data. Your legacy contractual documents along with this extracted meta-data can be migrated into any Contract Lifecycle Management (CLM) system for tracking and reporting.
No matter what sort of database or document management system your company uses, effective contract management usually requires the careful review and extraction of key contract terms and provisions so that relevant information is readily accessible to business decision makers.
- Customized solutions for contract review & clause abstraction
- Blended approach that combines best in breed software tools & manual review
- High level quality controls with batch processing
- Contract document formatting and hyperlinking
Cenza provides clients with an extremely cost effective solution with our contract review and clause extraction services. Our approach to extraction relies on a blend of basic and advanced software, together with manual review. We adapt the process for each project, selecting the tools and technologies best suited to the nature and volume of contracts being reviewed. We automate the extraction process as much as possible, taking advantage of artificial intelligence and machine learning, but when these tools aren’t appropriate, we shift more to our specialized abstraction software, which expedites manual review. Quality and consistency are rigorously maintained on every project with human quality controls and exception processing. We also provide support for uploading contract data into contract management databases. The bottom line is our clause extraction services provide clients with timely and better access to vital information at a lower cost.
Negotiation & Management Support
These days everyone is under pressure to cut budgets, and do more with less. As a result, corporate law departments often end up inundated by everyday requests to review, revise and help comply with routine contracts. Cenza is the ideal outsourcing partner to help your in-house team get and stay on top of the non-stop contract workflow. We have the right tools, technology and workflow expertise to help you manage the contract lifecycle from end-to-end.
- We help law departments design & implement a systematic process for contract negotiation. Based on an analysis of your legacy contracts, we work with your team to build a standardized library of contract terms & provisions. From that library, we then generate templates, checklists and playbooks that will bring true consistency and efficiency to the process of contract preparation and review.
- Your law department always has to review contracts drafted by counter-parties that are not based on your templates and playbooks. Cenza can help by providing tools and strategies, from redlining to summarization to full text review, that streamline the process for first-pass review so your in-house lawyers don’t waste precious time bogged down in the boilerplate.
- Compliance is also key when it comes to managing contract risk. With Cenza’s contract management services, we help you ensure compliance by maintaining your contract library, summarizing key terms, flagging executory obligations and automating procedures for ongoing notice and reporting requirements.
Cenza provides contract management solutions, working directly with corporate law departments and providing support services to third party service providers. In either case, we have the tools and expertise to solve the budget-cutter’s dilemma by helping clients do far more work with fewer resources.
- Tools to your routine contracts and minimize contract risk
- Build templates, checklists and playbooks to streamline and standardize contract negotiation
- Solutions for first pass review on non-conforming contracts form counter-parties
- Automated notifications for reporting and renewals to insure contract compliance
Due Diligence Review
Mergers and acquisitions have become a regular feature of corporate life, and that means law departments and law firms are always struggling to meet the deadlines for performing due diligence and contract review.
- Due diligence review
- Risk identification and summarization services
- Post-transaction contract migration services
Cenza’s due diligence services provide a perfect solution to keep your deal teams working on time and on budget. We have skilled diligence review staff available to handle large-scale projects on short notice. And we have process-engineering skills, backed up by rigorous quality controls in order to ensure the highest level of efficiency and accuracy. Our review teams are adept and equipped to identify all the key contract terms and provisions. Our abstraction services capture the relevant information your team needs for legal and financial analysis. We deliver clients the best of both worlds – the cost savings they expect from an offshore LPO combined with expert onshore project management, which allows us to deliver the highest quality and caliber of due diligence contract review.