Creation and Negotiation are essential elements of Contract Lifecycle Management (CLM), to maximise the value of what to expect from a supplier before signing a contractual agreement with them.

However, up to 15% of the agreed value can be lost if supplier obligations and SLAs are trapped in a static PDF document holding the contractual agreement. The consequences of neglecting this crucial aspect are profound, encompassing legal disputes, financial penalties, and the potential deterioration of supplier relationships.

Within the confines of a single contract, the sheer abundance of information poses a formidable challenge to manually monitor and oversee obligations. The endeavour of Customer-Supplier managers to decipher each contractual clause can become a laborious and resource-intensive task, leaving Supplier Managers submerged in voluminous documents, grappling to extract vital information efficiently.

The repercussions are not only felt in diminished productivity but also in the peril of inadvertently overlooking critical obligations, thus accentuating the necessity for effective obligation management in the realm of contract governance.

Even with data extraction, Supplier Managers, can be left with hundreds of clauses stating the obligations and SLAs for one supplier, out of their thousand within their supply chain.

At Brooklyn Solutions, we are thrilled to introduce our AI-Automated Contract Analysis capability. This powerful tool allows you to gain insights into contractual obligations quickly and accurately and automate the analysis process for all your legal documents.

This not only ensures compliance but also fosters a proactive approach to managing relationships with suppliers.

Our Smart Onboarding Engine (SOE), a cutting-edge tool scans the contract and efficiently extracts Supplier responsibilities from the PDF document. In the video demo, these responsibilities represent Initech’s obligations across the entire contractual document set, which may span multiple pages and documents.

Ask Brooklyn, our AI Assistant, can summarise extracted clauses saving companies valuable time and resource, removing the manual task of reading through contractual legal agreements.

In under a minute, Ask Brooklyn processes all highlighted clauses, providing a concise and clear outline of the suppliers’ responsibilities within a contract using key terms such as “the supplier is required to” and “the supplier is responsible for”, complete with clause references and page numbers.

Reading through every clause of a contract to understand obligations is a time-consuming and resource-intensive task. Supplier Managers often find themselves buried in lengthy documents, struggling to extract essential information efficiently. This not only hampers productivity but also poses a risk of overlooking critical obligations.

Our platform expedites the extraction of obligations, saving your team valuable time and resources. With our innovative solutions, contract management becomes a streamlined and intelligent process, eliminating the need for manual scrutiny of every clause.

Brooklyn Solutions is committed to making contract management simpler, faster, and more efficient. With the Automated Contract Analysis capability and the assistance of Ask Brooklyn, you can have a clause breakdown at your fingertips, saving both time and money for every piece of data extracted from a contract.

Curious to see the Brooklyn Platform and its latest AI capabilities in action? Schedule a demo to witness how our innovative solutions can transform the way you handle legal documentation, making contract management a seamless and intelligent process.