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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

Integration Platforms to Connect Your Business

What’s the difference between an integration platform and iPaaS (Integration Platform as a Service)? Well, iPaaS isn’t an Apple product! Neither is an integration platform, but we’re sure you knew that. All jokes aside, iPaaS and integration platforms make your life easier when it comes to connecting your disparate enterprise applications. They remove manual labor, […]

Read more April 26, 2023
Blogs

Data Governance: Data Catalog & Why You Need It

In the age before computers, you had libraries with professional librarians that had all the information on every single book in that library. Then came computers that could store terabytes of information about all the books, CDs, magazines, and music in the library, like where you could find it, if it was available, the author, […]

Read more April 19, 2023
Customer success story

Terracon Improves Data Analytics Capabilities with Snowflake on Azure

Engineering firms managing multiple projects often store large amounts of data in warehouses to gain valuable insights for strategic planning. However, traditional on-premises data warehouses can pose challenges like limited access to information, slow and intensive analytics, data silos, and lengthy development of insights. These challenges can have adverse effects on business decisions and result […]

Read more April 14, 2023
Blogs

Why Enterprises Should Use Snowflake on Azure

Data is the fuel of the digital era and harnessing its power can ensure productivity and organizational success. Businesses have long struggled with inflexible storage capacities, high operational overhead, and other technical difficulties due to their legacy data stores. As a result, investing in a modern-day data warehouse offers multiple prospects of development to your […]

Read more April 12, 2023
Blogs

7 Reasons to Use ChatGPT (& 5 Reasons You Shouldn’t)

There’s no way you haven’t heard of ChatGPT yet, but if for some reason you haven’t, let’s catch you up! What is ChatGPT? ChatGPT is a language model powered by artificial intelligence that mimics human conversations. Developed by OpenAI, this natural language processing (NLP) technology is based on transformer architecture, a type of algorithm that […]

Read more April 05, 2023
Blogs

CloudMoyo and Building an Equitable Future

“Equity is not just a nice-to-have. It’s a necessity. We can’t build a sustainable and prosperous society without it.” – Paul Polman. The theme for this year’s International Women’s Day by IWD was Embrace Equity. The theme called on all of us to work together towards a more just and equitable world. While the conversations […]

Read more April 01, 2023
Blogs

Building Business Architecture for Resilience

Data is flowing all around you. Texts you send go to satellites in space and then get shot down to the recipient’s device while various platforms store the date, time, and even location of where the text was sent. The phone towers you’re connected to allow your device to exchange data with other devices, tailoring […]

Read more March 29, 2023
Customer success story

Leading Supply Chain Services Company Transforms Customer Experience by Modernizing After-Sales Customer Support

Big data management has been increasingly difficult with volumes of data and companies are struggling with the cost and performance of the old data architecture. Therefore, businesses are reaching out for efficient and cost-saving solutions to collect and store data. We helped our client, a leading supply chain services company, move away from the complex, […]

Read more March 24, 2023
Customer success story

National Equipment Rental Company Improves Contracting Experience for Customers

Obligation management is critical in businesses bringing together vendors and consumers. Vendors want safe usage of goods and services while customers require timely delivery and best-in-class quality. Identifying such obligations from a large number of contracts, assigning ownership, and maintaining visibility are extremely difficult if done manually. Our client is the channel between vendors and […]

Read more March 15, 2023
Blogs

5 Benefits of Cloud Migration

“Moving to the Cloud” has been trending in tech for years, especially in the last few in the wake of the COVID-19 pandemic. Organizations around the world are investing or have invested in moving their business to the cloud for increased flexibility as many work from home, reduced cost, and increased agility as they grow. […]

Read more February 24, 2023
Blogs

Contract Intelligence for Chief Finance Officers

As a Chief Finance Officer, you’re responsible for ensuring the financial health of your organization. One key aspect of this is effectively managing contracts, which have a significant impact on your organization’s bottom line. Did you know that the average cost of poorly managed contracts is about 9.2% of an organization’s annual revenue? This is […]

Read more February 24, 2023
Blogs

Conflict of Interest, Compliance, & Custom Application Automation

Have you ever wondered if someone gets raises because they know someone, or if it’s ethical to accept gifts from vendors? Is it okay to allow someone to leave work early to volunteer in a place where they may solicit funds or donations for your workplace? These situations are sticky and fall under the term […]

Read more February 18, 2023