Sansan Inc. announced on the 20th that it has started offering a “document comparison function” in its contract database “Contract One” that automatically detects differences between old and new contracts when creating new contracts for contract renewals, etc. This will reduce the effort required to check the contents of contracts when they are concluded.
Contract One is a contract database that can accurately digitize contracts in various formats and centrally manage them on the cloud. This time, the service has added a “document comparison function” that detects differences between two contracts. When renewing a contract, it is necessary to compare it with the most recent contract to understand the differences, but the task of finding the most recent contract and comparing it visually takes a lot of time, which is a burden on the person in charge. In addition, there is a risk of unintended changes to the clauses, such as overlooking changes to payment terms and incurring extra costs.
However, the document comparison function can automatically detect differences between the current contract and the new contract and display them in an easy-to-understand manner, which can help solve these issues. The comparison can be made between uploaded documents or contracts selected from the ledger on Contract One, and the comparison results can also be downloaded, allowing them to be shared with related parties and to record changes. Since Contract One does not limit the number of accounts that can be used for one contract, not only legal department employees but also business division employees can directly review contracts.
Conventionally, the legal department was primarily responsible for review work, but business division personnel can also understand the changes and make the necessary adjustments before consulting with legal department, which reduces the amount of interaction between legal and business divisions regarding reviews.
SOURCE: Yahoo
