Brightleaf Corporation’s New Automated Contract Abstraction Solution Saves Corporate Legal Departments Hundreds of Thousands

  Brightleaf Corporation’s New Automated Contract Abstraction Solution Saves
  Corporate Legal Departments Hundreds of Thousands of Dollars

New contract abstraction service enables corporate legal and contract
departments to conduct rapid, accurate contract abstraction at a fraction of
the cost

Business Wire

BOSTON -- November 12, 2013

Brightleaf Corporation (www.brightleaf.com), a leading provider of legal
document automation solutions, today announced Brightleaf Automated Contract
Abstraction, a technology-driven service that automates the entire process of
abstracting information from contracts for upload into a contract management
system (CMS), or for analysis with Brightleaf’s abstraction analysis tool.

Brightleaf Automated Contract Abstraction eliminates the need for in-house
lawyers or expensive outside firms to spend large amounts of time and money
searching through hundreds or thousands of contracts to gather and review
provisions. With Brightleaf, the contract abstraction process is almost
completely automated, eliminating the cost and time obstacles associated with
traditional contract abstraction approaches.

Advanced Technology

The key is Brightleaf’s underlying semantic intelligence platform that applies
breakthroughs in computer-based language analysis technology to legal
documents. Advances in natural language processing, linguistic interpretation,
and semantic intelligence allow the Brightleaf platform to understand,
interpret, and parse complex legal documents into structured, easily
searchable information with an amazing degree of accuracy

“Businesses need to make key decisions based on the information which resides
in executed contracts, but there hasn’t been an affordable, easy way to
abstract this information,” said Dan Gaffney, CEO, Brightleaf. “Large
companies often have thousands of contracts stored in file cabinets, or saved
as PDFs. Getting actionable information from these contracts requires a
resource-intensive, expensive process that requires lawyers to search every
contract. It’s too time consuming for internal legal staff, and too
cost-prohibitive to outsource to a legal abstraction firm, often costing
hundreds of thousands of dollars per project.”

Working with the in-house legal or contract staff, the Brightleaf legal
operations team uses its technology platform to abstract any number of key
attributes from any number of contracts. Brightleaf provides the abstracted
information in an easily searchable database for research and analysis, or
delivers a custom spreadsheet that is tuned for easy import into an existing
contract management system, or virtually any other information system.

“With Brightleaf automated contract abstraction, we can easily abstract dozens
of provisions quickly and accurately from thousands of contracts,” said Darryl
C. Hair, VP and Head of Legal Operations, DaVita HealthCare Partners Inc. “We
expect Brightleaf to save us hundreds of thousands of dollars per year, while
enabling us to get the intelligence we need to quickly make informed strategic
and operational decisions.”

Abstraction Analysis Delivers Contract Intelligence

Brightleaf Abstraction Analysis is an optional tool that gives virtually
anyone in the company the ability to administer, analyze, and report on data
that is abstracted through the Brightleaf service. Brightleaf Abstraction
Analysis is a cloud-based data mining application that gives lawyers, contract
managers, and procurement professionals the ability to conduct rapid searches
on any abstracted data across any number of documents. It provides an easy way
to derive real-time business intelligence from executed agreements to help
senior executives and business managers throughout make faster, more informed
business decisions.

About Brightleaf Corporation. Based outside Boston, Brightleaf Corporation is
a venture-funded technology company founded in 2006. For law firms and legal /
contract departments, we deploy our cloud-driven, Microsoft Word®-based legal
document automation platform to make lawyers, contract managers and
procurement professionals more productive and legal work more efficient. Our
automated contract abstraction and analysis service and our assembly and
negotiation solutions are used by Fortune 500 companies and AmLaw 100 law
firms throughout the U.S. More at www.brightleaf.com.

Contact:

Brightleaf Corporation
Jeff Turner, 781-708-4112
Vice President of Business Development
jturner@brightleaf.com
 
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