What is meant by Contract content entry?
The term "contract content capture" refers to the systematic process of recording and documenting all relevant details and terms of a contract. This includes the detailed recording of contract clauses, conditions, obligations, deadlines, and other key information necessary for managing and adhering to the contract. Contract content capture is crucial to ensure that all parties involved are fully aware of and comply with the agreed terms.
Typical software functions in the area of "contract content capture":
- Automated Text Recognition (OCR): Software uses optical character recognition to extract contract content from scanned documents and save it in a digital format.
- Structured Data Capture: Input and storage of contract information in a structured form, such as predefined fields for durations, pricing agreements, and obligations.
- Template Management: Use of contract templates containing standardized contract content and clauses to simplify the capture process.
- Deadline and Schedule Management: Automated capture and management of deadlines and schedules specified in the contract, including reminder functions.
- Content Validation: Verification of captured contract content for completeness and compliance with company policies.
- Revision History: Documentation and tracking of changes to the contract content over time.