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5 Contract Management Challenges and how an AI-driven CLM solution can get your organization back on track

Advances in artificial intelligence (AI), including natural language processing (NLP), cognitive analytics, and pattern recognition, are making it possible to derive maximum value from large volumes of data without drastic increases in headcount and bureaucracy. At Mainspring, utilizing the power of AI means starting with contracts. An AI-enabled Contract Lifecycle Management (CLM) system standardizes data,…

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4 Reasons why smart companies choose AI-powered CLM over traditional CLM

Organizations are under constant pressure to reduce costs and mitigate risks in nearly every department. Looking at the holistic contract management lifecycle, the benefits of an artificial intelligence-driven contract lifecycle management (CLM) solution positively impact every aspect of the process.  Advances in artificial intelligence (AI)—including effective risk management, improvement of business resilience, and a higher…

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How AI-Driven CLM Can Help Increase Efficiency and Shorten Sales Cycles for Your Sales Team

As machine learning and artificial intelligence continue to transform the contract lifecycle management process, much of the focus tends to be on how it can improve legal review or procurement. But AI-driven CLM solutions have a vital role to play in the sales process as well. Here are 10 examples of how AI-driven CLM solutions…

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How AI-Driven CLM can lower costs and increase efficiency for Procurement Teams

Across virtually every organization, sourcing and procurement departments are under constant pressure to reduce cost and mitigate risks. The big data revolution in digital technology has put more information at our fingertips than ever before, which represents both an incredible opportunity and a significant challenge. The larger the volume of information, the greater the resources…

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10 Reasons Why You Should Use AI-Driven CLM For Legal Operations

According to research conducted by World Commerce & Contracting, poor contract lifecycle management processes decrease the average organization’s profitability by 9.2% annually. Improving your organization’s CLM is no longer a question of “can we afford to do this” — it’s a question of “can we afford not to?”  Fortunately, with the advent of artificial intelligence-powered…

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Why is CLM AI Consulting Important, and What Can You Expect?

Artificial intelligence and machine learning are unlocking unprecedented efficiencies in contract lifecycle management (CLM). These powerful tools can help organizations that find themselves overwhelmed by the volume of their own contract data. But equally overwhelming can be the question of where to get started with an AI focused CLM implementation. Mainspring makes that decision easy.…

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How Can Machine Learning and AI Optimize the Legal Department?

In the never-ending pursuit of greater productivity and efficiency, legal departments are being asked to handle increasing responsibilities without commensurate increases in budget or resources. A greater emphasis on shortening turnaround times also threatens the integrity of legal review. As “doing more with less” becomes a default expectation, legal departments that cannot find ways to…

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What is the Future of AI in Contract Management?

In both subtle and overt ways, artificial intelligence (AI) reaches into our daily lives, and its expansion into contract management is no exception. To those who are not familiar with the trajectory of AI contract management, that can be a source of anxiety. But instead of seeing AI as a threat to the human element…

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Contract AI analysis – Strongest Ally of Risk Management

Artificial Intelligence focused on contracts is the due diligence your contract data needs for highly efficient and effective risk management. Managing your contract data may be one of the most important steps to making your organization more resilient. Knowledge and clarity of your organization’s contract health improves your power to make adjustments during changing times.…

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CLM in a Pandemic World: Recovering with Resilience and Strength through Contract Analytics (Part 3 of 3)

Data-driven companies have been more successful during these trying times. They treat data as an important corporate asset, derive insights from it and make decisions that improve their operations. The pandemic highlights the need for technology and a shift to digital is more critical than ever.  Better analytics lead to business innovation, a greater understanding…

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