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 email@example.com
Brightleaf Corporation’s New Automated Contract Abstraction Solution Saves Corporate Legal Departments Hundreds of Thousands
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