SOLUTIONS

Contract Discovery, OCR, and Extraction

Every day, your contract data becomes more valuable. With our help, you can gain insights about your business that will help you earn a better return on investment (ROI).

We leverage advanced technology to conduct fast and accurate data analysis, which you can use to guide your business decisions and CLM program.

Until now, you may doubt your existing contract management system, especially if you encounter issues like:

  • Limited contract visibility;
  • Fragmented share drives and rudimentary repositories;
  • Duplicate agreements, missing records, or unconnected contract hierarchies;
  • Lack of monitoring functions to warn about key contractual events.

With our Digital Transformation Services, you can have a credible, comprehensive CLM program that you can trust.

The outcome is a fully indexed, searchable repository with trusted metadata that is available to use for reporting and searching.

A successful Contracts Migration increases the user adoption of your CLM program

We’re committed to helping you do more with your contract data. Thanks to our end-to-end contracts migration services, users stand to gain a lot, including:

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Contract Discovery

 

We help you scan folders and network drives to discover all your contracts, identify their locations, and flag duplicates for deletion so you can avoid redundancies.

OCR and Key Data Extraction

 

Through machine learning software, we extract essential contract data, and make it easy for you to review all contracts through an optimized, searchable PDF.

Contract Review

 

Each contract is manually reviewed by our Contract Analysts.  They double-check accuracy against your custom business rules or by reading and transcribing handwritten text.

Matching Related Agreements and to External Party Data

 

We map out your External Party data so you can quickly find contracts and avoid any unnecessary variations. Also, we pair related agreements to establish logical functionality and organizational practices within your CLM system.

Contracts Data Transformation

 

You’ll have a holistic view of your contract data, as everything is standardized by a well-defined set of lists, formats, and rules. This makes it easy to perform accurate searching and reporting. Furthermore, external data from databases or spreadsheets can be integrated, so you can achieve harmony between old and new contracts.

Loading to CLM for Improved Searching, Reporting, and Monitoring

 

With diverse functionality and E-mail notifications and alerts tested and enabled, we simplify management of contract relationships and legacy contracts. Also, you can monitor all data, OCR enabled contracts, and supporting documents, all of which are uploaded to your CLM environment.

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Experience expected results with Mainspring’s turnkey services

Mainspring’s results have simple but effective results.  We loaded legacy contracts to CLM as if you have always been using CLM leading practices.  We manage a process that is accessible for both standard and non-standard agreements. We correlate actual contracts data and usage to new CLM requirements so you can learn from your legacy contract.  All while reducing burden on your resources for mundane, arduous activities.  

Experienced in creating repositories and unlocking insights from Legacy Contracts

We understand that collecting data from thousands of contracts appears insurmountable. The volume, coupled with resource constraints and additional supplier relationships can be overwhelming.  That’s why Mainspring built a practice around it. Mainspring is an expert in helping clients tackle this transition with ease.

 

After facilitating a collaborative workshop, our consultants will set up an extraction technology for you.  We include machine learning models for custom text extraction combined with our experienced team of contract analysts to rebuild your search and report capabilities.

Industry leading AI software and machine learning technology with no additional fees, installations, servers, additional contracts, or specialized resources necessary.

Done the right way, Contracts Migration builds immediate trust and value in CLM as if users have been using CLM for years