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Oct 22, 2024 | 
lexology.com | Sean Heck
Mergers and acquisitions (M&A) can be necessary and beneficial growth strategies for many organizations. However, M&A transactions are complex and require more than just strategic vision and financial acumen; effective contract management is pivotal in ensuring these deals go smoothly. Leveraging robust contract lifecycle management (CLM) software can be a game-changer in the M&A process.
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Sep 25, 2024 | 
lexology.com | Sean Heck
Generative AI is a game-changer for contract management. It addresses many challenges that traditionally stall or slow down the process. By using generative AI to quickly generate clauses, you can ensure consistency and significantly reduce errors and omissions. Chatbots offer real-time assistance, answer queries, and guide you through complex aspects of contract lifecycle management.
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Jun 7, 2024 | 
lexology.com | Sean Heck
In this evermore globalized world, the transfer of data across borders has become commonplace. As such, taking steps to ensure the privacy and security of this data has become a significant affair for individuals and organizations alike. In collaboration with the European Commission and Swiss Administration, the U.S. Department of Commerce has developed the EU-U.S. and Swiss-U.S. Privacy Shield Frameworks to address these concerns.
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May 13, 2024 | 
lexology.com | Sean Heck
Annual planning is a crucial process for organizations of all sizes. It allows businesses to set goals, allocate resources, and define strategies for the upcoming year. By carefully analyzing past performances and trends, companies can make informed decisions and chart a course for success.
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Apr 30, 2024 | 
lexology.com | Sean Heck
In virtually any business context, understanding the financial metrics that drive operational success and revenue is crucial. One such metric that plays a pivotal role in measuring the financial health of an organization is ACV (annual contract value). In this blog post, let's explore the concept of annual contract value, its importance, and how to calculate it. What Is Annual Contract Value?
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Apr 3, 2024 | 
cuinsight.com | Sean Heck |Robbie Young |Phil Seely
Credit unions face unique challenges that require unique and innovative solutions, particularly when it comes to contract negotiations. The success of these negotiations hinges not only on securing favorable terms but also on managing these agreements efficiently throughout their contract lifecycle. This is where contract management software emerges as a pivotal tool.
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Jan 9, 2024 | 
lexology.com | Sean Heck
In today's fast-paced financial services sector, the ability to effectively manage contracts is more critical than ever. With the advent of advanced contract and financial management technologies, businesses are discovering powerful tools to streamline processes, enhance accuracy, and boost efficiency. Among these transformative solutions, AI-powered contract management software for financial services stands out as a game-changer.
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Dec 11, 2023 | 
lexology.com | Sean Heck
In the baseball game of data protection, mastering the rules and strategies is as critical as practicing the fundamentals at spring training. Enter the world of data processing agreements (DPAs) and the General Data Protection Regulations (GDPR). We will learn about these agreements and regulations, as well as how contract management software helps ensure businesses don't just play but dominate in this crucial stadium.
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Nov 8, 2023 | 
lexology.com | Sean Heck
Legal professionals are increasingly leveraging technological innovations to enhance efficiency, time savings, and accuracy. One of these powerful tools for legal work includes AI systems. AI for lawyers has become a cornerstone in transforming traditional legal practices. Legal AI is not a concept of the future but a present reality, altering the landscape of contract management and various legal processes.
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Oct 3, 2023 | 
lexology.com | Sean Heck
Conversations about artificial intelligence in a business setting are important. According to a study performed by MIT Sloan Management Review, over 80% of organizations see AI as a vehicle for strategic opportunity. Additionally, 85% of organizations view AI as a means for competitive business advantages.1This interest in – and implementation of – AI applies to legal teams and other contract managers as well.
