Modernizing contract management with natural language processing, machine learning, and low code technology

Negotiating contracts is a long process that requires hours of reading through legal documents to make sure they’re good to go – an arduous process called redlining.

But more and more business are realizing new technologies that can streamline and modernize their Contract Lifecycle Management (CLM) process with solutions that perform functions more efficiently, address bottlenecks, and deliver solutions in reduced timelines. Many organizations today have adopted low-code & no-code solutions that accelerate digital transformation by decreasing their dependence on IT and empowering the user to create their own solutions through application development.

With support from CloudMoyo, Terracon, an employee-owned consulting and engineering firm, did just that, implementing a solution that modernized their CLM process. CloudMoyo’s Contract Redlining Application allowed Terracon’s legal team to manage the complexity of the contract redlining process that resulted in greater efficiency and improved actionable insights.

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