How consulting can expedite Legacy Contract Migration for corporates?

The sheer volume of contracts to be migrated to a Contract Lifecycle Management (CLM) system is immense in a corporate environment. The requisite to digitize them is indeed overwhelming for the decision-makers and their legal teams since it involves considerable investment and a lot of nuances, such as: Analyzing the…

Why is human-machine collaboration critical for contract analysis AI tools ?

Artificial Intelligence (AI) plays a crucial role in enhancing the efficiency of Contract Lifecycle Management (CLM) systems by adding the ability to seamlessly track key terms and clauses in a digital contract repository. However, when the functioning of an AI tool is considered, it is indeed designed to operate autonomously,…

How LegalTech is Transforming Contract Management?

The legal industry had been technology laggards until now, but the pandemic situation, ever-increasing pressure, and rising expectations from the clients have compelled legal firms to automate legal processes, adopt new technology tools and a new generation of legal professionals are willing to embrace technology and rethink the conventional way…

Annual Kick-Off 2021– An event to celebrate the success of Team Cenza

Annual Kick-Off at Cenza is a day dedicated to celebrating the individual achievements of Cenza employees and the new milestones the company has accomplished. Year on year, we have been diligently observing the event, rain or shine, and thus, Cenza employees look forward to this day when we all gather…

What Makes AI and Humans the Future of Contract Management

Legal AI and ML platforms will perform fully automated contract review and extraction, or many will have you believe so that the human contract review process will be a thing of the past. However, that’s far from the truth. According to recent research by IACCM, 80% of all CLM deployments fail. This…

An in-depth guide on successful contract migration and CLM implementation

Contract lifecycle management (CLM) has not been a straightforward exercise and here’s why it requires expert legal understanding and understanding of information that contains legal language. Many third-party providers lack the expertise to extract and manage contextual information. That said, the current advances in text analytics and natural language processors…

The new hottest segment in legal tech: Contract Lifecycle Management

Contract lifecycle management (CLM) has become a hot topic in the legal space; a must-have solution for CXOs looking to get a handle on their legal agreements. The Covid-19 pandemic has ushered in the era of digital transformation, further solidifying the shift towards CLM technology as corporate legal departments face…

Lease Management – the secret behind managing leases

Lease management or lease administration is the day-to-day execution of tasks related to a real estate company’s lease portfolio. This process involves reporting, document management, budgeting, coordinating between stakeholders, along with a host of administrative duties. Lease management simplifies the complete process of property management, creating a reliable system that…

How to Train Legal AI Faster?

In the legal industry, the role of artificial intelligence (AI) in the legal industry is gaining ground. Organizations are using this technology to increase accuracy and speed across different stages of contract management, including drafting, review, and negotiation stages. This comes as no surprise, considering AI can significantly streamline the…

Did work-from-home improve gender parity in the workplace in 2020?

Celebrated all over the world as International Women’s Day, March 8th holds special significance for the women’s rights movement. By employing more women in the workforce, organizations can proactively work towards bridging the gender gap but is that what’s happening now? Data says otherwise. The recent World Economic Forum report…