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Generative AI Test Shows 50% Reduction in Contract Migration Effort

Did you know that over 50% of in-house legal teams are overburdened? According to a report by the Corporate Legal Operations Consortium (CLOC), 83% of legal departments expect demand to increase, with 63% identifying workload and resource bandwidth as their top challenge.

Most of the legal teams’ work revolves around contract management, analyzing contracts, and manually extracting data, which can be labor-intensive, time-consuming, and prone to errors. This often leads to poor contract management, creating financial and legal risks.

At CloudMoyo, we asked a simple question: What if generative AI could do it better?

Using CloudMoyo IntelliDoc Analyze (CDA), our generative AI-powered service accelerator, our team tested document analysis and data extraction capabilities to see how it measured up against traditional methods. The process involved structured testing, careful validation, and a clear goal – to reduce effort without compromising accuracy.

What we discovered was more than just faster processing. Emerged patterns, improved accuracy, and tasks that required hours of human review were completed in just a fraction of the time with CDA.

Download this case study to learn more about the impact of generative AI on contract management and legal teams.

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Blogs

A deep dive into the Microsoft Azure Data Lake and Data Lake Analytics

Today, large enterprise organizations are struggling with an ocean of data. From online shopping analytics to the Internet of Things (IoT) sensor data, the modern IT team is inundated with raw or semi-raw data captured from every side of the organization. These entities have begun dumping this raw data into a holding tank called the […]

Read more October 08, 2017
Blogs

Top 3 things to look for in your contract management implementation partner

Contracts are the foundation of commerce. To better handle contracts by standardizing and automating the contracting process, ensuring greater control, better supply chain agility and responsiveness and improved execution speed, today’s enterprises are hunting high and low for an easy yet advanced contract management solution. Why do you need a contract management implementation partner? While […]

Read more October 05, 2017
Blogs

6 things to check before contract management software implementation

For every enterprise, managing contracts is a critical and challenging task. Even a simple question around contract expiry dates or the location of the latest version of a contract can slow down a critical transaction or process. To maximize workflow efficiency, many organizations have now started using digital documents or Document Management System (DMS). However, […]

Read more October 03, 2017
Blogs

8 reasons why a cloud data warehouse outshines an on-premise data warehouse

Traditional Data warehousing has hit a roadblock. Most organizations have ancient information management systems typically built in an age where inflexible systems working within solos were sufficient to address data needs of that era- limited data sources, infrequent changes, lesser volume of transactions and low competition. But today, the same systems have been rendered ineffective […]

Read more September 11, 2017
Blogs

6 business intelligence challenges that every organization faces

In today’s technology world, data generated on a day to day basis from different sources is enormous. This data can have valuable information that can help executives to take effective decisions. Organizations use Business Intelligence (BI) to cater to this but only a proper utilization of business intelligence can help organizations to improve the productivity and ultimately […]

Read more July 07, 2017
Blogs

4 signs that your business needs a business intelligence solution

In today’s electronically interconnected world, the amount of data generated by business operations can have an inundating effect on enterprise systems. In this age of connectivity, businesses are flooded by a mountain of data which floods enterprise systems. To tackle this deluge, a number of big data technologies have emerged and businesses have deployed a […]

Read more July 07, 2017
Blogs

The top 3 ways big data analytics is transforming the pharma industry

Advances in the arena of pharmaceutical development have suffered from declining success rates for some time now, due to a number of critical factors such as decreased R&D, as well as multiple challenges to growth and profitability, and the increasing cost of regulatory compliance. But there are a number of bright spots on the horizon, […]

Read more November 30, 2016
Blogs

Big data is taking the retail industry to a new, more informed space

Speculation around the future of retail often tends to drift into visions of drones flying through the skies and delivering packages within minutes of a consumer clicking a few buttons on a site. In this projection, the bricks and mortar retail stores are old fashioned, out of date and a relic of the past. Yet […]

Read more November 09, 2016
Blogs

3 ways self-service BI will help your organization

Today, multiple sources are generating loads of data than before, but many still struggle with how to turn this data into actionable business insights. In fact, business leaders report they only use 30 percent of the data that exists within their companies. Historically, users were able to analyse their data using tools such as Microsoft […]

Read more October 18, 2016
Blogs

Are you unlocking the hidden value of your big data?

More and more organizations are coming to understand that there are valuable insights hidden in the data which they generate during the course of their work that could transform their business operations. The science of data analysis is growing fast around the world, and it’s becoming more and more predictive in the way that it’s […]

Read more October 04, 2016
Blogs

How can data analytics empower B2B sales in the pharma industry?

Earlier, pharmaceutical companies would invest in expensive, broad-scale product promotion via lengthy doctor visits. A recent survey suggests that 87% intend to increase their use of analytics to target spending and drive improved ROI. Some of that money is likely to go into monitoring doctors’ therapeutic tastes, geographic trends, peak prescription rates – anything that […]

Read more September 21, 2016
Blogs

How to run a successful big data Proof of Concept (PoC)

For all kinds of organizations, whether large multi-national enterprises or small businesses, developing a big data strategy is a difficult and time-consuming exercise. In fact, big data projects can take up to 18 months to finish. While a few within an organization may be very well aware of what Big Data is and what the possibilities of […]

Read more September 07, 2016