COGNITIVE CONTRACT MANAGEMENT SHARP ANSWERS SUPERIOR SOLUTIONS
COGNITIVECONTRACTMANAGEMENT
SHARP ANSWERSSUPERIOR SOLUTIONS
CognitiveBusinessSummit– Hamburg11th May2017- ©2017TwoImpulse- AllRightsReserved
AGENDA
COGNITIVE CONTRACT MANAGEMENT
Aboutme Challenges Unlockthevalueincontracts
Casestudies Q&A
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CognitiveBusinessSummit– Hamburg11th May2017- ©2017TwoImpulse- AllRightsReserved
ABOUT ME
COGNITIVECONTRACT MANAGEMENT
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NERD TURNED ENTREPRENEUR
StudiedMathematicsandComputerScience,
MasterinAI
WorkedattheEuropeanSpaceAgencyin2003
ScientificSoftwareEngineeratthe
EuropeanSouthernObservatoryfrom2004to2011
HeadedtheCognitiveSolutionsteamatSwissRefrom2011to2016
CEOandco-founderofTwoImpulsesince2016– We
deliverConsultancyinCognitiveComputing,
developsolutionsandprototypes.
CHALLENGESCONTRACT MANAGEMENT
CognitiveBusinessSummit– Hamburg11th May2017- ©2017TwoImpulse- AllRightsReserved
ABSTRACT
COGNITIVECONTRACT MANAGEMENT
Contractsareoftenseenasunstructureddata.Thisnotionisratherfarfromthetruth.Yourcompanies'contractsareavaluablesourceofinformation.
Inthissessionwewillexplorehowyoucanunlockthatvalue,byintroducingcognitivecapabilitiesincontractmanagementprocesses.
Youwillbeabletotakefaster,moreconfidentdecisionsthatimpactefficiencyacrossteams,giveyounewinsights,improvingtheperformanceofyourbusiness.
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CognitiveBusinessSummit– Hamburg11th May2017- ©2017TwoImpulse- AllRightsReserved
COGNITIVECONTRACTMANAGEMENT
CHALLENGES
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COMPANIES OFTEN HAVE CHALLENGES ANSWERING QUESTIONS ABOUT CONTRACTS
HowmanycontractsdoIhave?
Whereareallthesecontracts?
What’scontainedinthecontracts?
Whichbusinessprocessesrelyoncontractterms?
Who’smanagingourcontractobligations?
CognitiveBusinessSummit– Hamburg11th May2017- ©2017TwoImpulse- AllRightsReserved
COGNITIVECONTRACTMANAGEMENT
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CHALLENGESWHEN ORGANIZATIONS MUST KNOW WHAT'S IN THEIR CONTRACTS
Negativeeventssuchasdatabreachorlawsuit
Regulatorychangesandcompliancewithnew
mandates
Commercialinitiativestoleverageincentivesandcontroltermssuchasauto-renewals,etc.
M&A toimproveduediligencefor
contractualrisksandaccuratevaluations
Audits Governance,Risk andCompliance initiatives
Efficientresponsetoauditors andregulators
RequestfromSeniorManagement
CognitiveBusinessSummit– Hamburg11th May2017- ©2017TwoImpulse- AllRightsReserved
COGNITIVECONTRACTMANAGEMENT
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CHALLENGESCONTRACT REVIEWS
Oftenamanualprocessofreadingeverycontract– whenpossible
Cantakemanymonthsathighcost
Itinvolvesmanypeople- maybeshippedoverseastoreducecosts
Subjectivereview/inaccuracy
Withannewunexpectedregulationorevent- muststartover
CognitiveBusinessSummit– Hamburg11th May2017- ©2017TwoImpulse- AllRightsReserved
CHALLENGES
COGNITIVECONTRACTMANAGEMENT
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WHY IS THIS?
Technical
Oftentheyarenot
indexedandfindable.Qualityofmetadataisoftenlow.
Theyaretreatedasjusttext–noanalysisofthemismade
Notlinkedorveryloosely
linkedwiththebusiness
data
Contracts+Amendmentsnotseenassingleunit
Organizational
Processesforhandlingcontractsareold
fashioned(paperbased)
Thereareteams
dedicatedtocontract
relatedtasks
UNLOCKING THE VALUE IN CONTRACTSHOW DO WE FIX THIS?
CognitiveBusinessSummit– Hamburg11th May2017- ©2017TwoImpulse- AllRightsReserved11
“Basically,ourgoalistoorganizetheworld'sinformationandtomakeituniversallyaccessibleanduseful.”
LarryPage
CognitiveBusinessSummit– Hamburg11th May2017- ©2017TwoImpulse- AllRightsReserved
UNLOCKING THE VALUE IN CONTRACTS
InsuranceContract
COGNITIVECONTRACT MANAGEMENT
STEP 1/5 - CLASSIFICATION
ServiceContract
RentalContract
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UNLOCKING THE VALUE IN CONTRACTS
COGNITIVECONTRACT MANAGEMENT
STEP 2/5 – BREAKING DOWN
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Preamble
ConditionsandObligations
PaymentTerms
Termination
LiabilityandWarranties
Confidentiality
Signatures
Otherprovisions
IntellectualProperty
CognitiveBusinessSummit– Hamburg11th May2017- ©2017TwoImpulse- AllRightsReserved
UNLOCKING THE VALUE IN CONTRACTS
COGNITIVECONTRACT MANAGEMENT
STEP 3/5 – ANALYSIS
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CompanyLocation
CompanyLocation
MoneyAmount
RelationshipService
Person
Person
CognitiveBusinessSummit– Hamburg11th May2017- ©2017TwoImpulse- AllRightsReserved
UNLOCKING THE VALUE IN CONTRACTS
COGNITIVECONTRACT MANAGEMENT
STEP 4/5 – LINKING
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CompanyA
CompanyB
PersonA
PersonB
PersonC
ServiceAgreement
CompanyData
TerminationClauseA
PaymentClauseB
GoverningLaw
Confidentiality
OtherContracts
CognitiveBusinessSummit– Hamburg11th May2017- ©2017TwoImpulse- AllRightsReserved
UNLOCKING THE VALUE IN CONTRACTS
COGNITIVECONTRACT MANAGEMENT
STEP 5/5 – BUILDING A CONTRACT KNOWLEDGE BASE
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CognitiveContractKnowledge
Base
Contracts
Companies
People
Revenue
ClauseTreasury
Regulations
Claims
Events
Contract
People
Parties
PaymentTerms
AmendmentsTerms
Conditions
Termination
CognitiveBusinessSummit– Hamburg11th May2017- ©2017TwoImpulse- AllRightsReserved
UNLOCKING THE VALUE IN CONTRACTS
COGNITIVECONTRACT MANAGEMENT
THE PROCESS
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Capture,Discover
andCollect
Index,ClassifyandAnalyze
Review
Trainingthesystem
Collaborationbetweenacognitivesystemandspecialists,makingthesystemsmarterovertime.
CognitiveBusinessSummit– Hamburg11th May2017- ©2017TwoImpulse- AllRightsReserved
UNLOCKING THE VALUE IN CONTRACTS
COGNITIVECONTRACT MANAGEMENT
THE FEATURES AND BENEFITS
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Discoverthecontractsthroughoutthe
enterprise,andcentralizethemintoafully
searchablerepository
Analyzecontractdataatanytimeforlitigation,
mergerandacquisitions,regulatorychanges,andmanagementrequests
Trainthesystemtounderstandthe
organization’sspecificlegallanguageand
requirements
Findandcomparenon-standardclausesquickly
andeasily
Reducerisk,meetregulatorymandates,
andsavesignificanttimeandmoneyincontract
reviews
COGNITIVE CONTRACT MANAGEMENT IN INSURANCECASE STUDY
CognitiveBusinessSummit– Hamburg11th May2017- ©2017TwoImpulse- AllRightsReserved
CASE STUDY - INSURANCE
COGNITIVECONTRACTMANAGEMENT
ASSISTED CONTRACT DRAFTING AND NEGOTIATION
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DraftContract AutomaticallyReviewedContract
CognitiveBusinessSummit– Hamburg11th May2017- ©2017TwoImpulse- AllRightsReserved
CASE STUDY - INSURANCE
COGNITIVECONTRACTMANAGEMENT
ASSISTED CONTRACT DRAFTING AND NEGOTIATION
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CreationofClause
Treasury
• Clausesareautomaticallyextractedandclusteredfromaround1.000.000contracts
• ManualTask:specialistsclassifyandrateclauses
AssistedDraftingofContracts
• Automaticallygenerateacontractbyselectingtherelevantbuildingblocks
• Useothercontractsasreferencefordraftinganewcontract
• Enforcestandards
RiskAssessment
• Analyzeandrateadraftcontractproposalfromapartner
• Comparethecontractwithothersimilarcontracts
• Point-outmissingclauses
• Efficiencyincreaseincontractdraftingandnegotiation
• Standardization• RiskReduction
Benefits
CognitiveBusinessSummit– Hamburg11th May2017- ©2017TwoImpulse- AllRightsReserved
CASE STUDY - INSURANCE
COGNITIVECONTRACTMANAGEMENT
SEARCH & COGNITIVE EXPLORATION
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Naturallanguage
Specificwordings
No Downgrade. Subsequent to the earlier of (A) the Applicable Time and (B) the execution and delivery of this Agreement, if there are any debt securities or preferred stock of or guaranteed by the Company or any of its subsidiaries that are rated by a "nationally recognized statistical rating organization", as such term is defined in Section 3(a)(62) of the Exchange Act, (i) no downgrading shall have occurred in the rating accorded any such debt securities or preferred stock and (ii) no such organization shall have publicly announced that it has under surveillance or review, or has changed its outlook with respect to, its rating of any such debt securities or preferred stock (other than an announcement with positive implications of a possible upgrading).
What contracts do I have with IBM Germany in 2016?
CognitiveBusinessSummit– Hamburg11th May2017- ©2017TwoImpulse- AllRightsReserved
CASE STUDY - INSURANCE
COGNITIVECONTRACTMANAGEMENT
SEARCH & COGNITIVE EXPLORATION
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Example
CEO: I want to pay dividends to the share holders.
• What is the financial impact of this?
• Do we have contracts that are automatically terminated in case of lower liquidity?
Cognitive Approach• Automatic Research• Few people • Accurate Results• Low costs• Results available in
minutes
Traditional Approach• Manual Work• Many people involved• Inaccurate Results• High Costs• Long Periods of time
CognitiveBusinessSummit– Hamburg11th May2017- ©2017TwoImpulse- AllRightsReserved24
“Somepeoplecallthisartificialintelligence,buttherealityisthistechnologywillenhanceus.Soinsteadofartificialintelligence,Ithinkwe'llaugmentourintelligence..”
Ginni Rometty
CognitiveBusinessSummit– Hamburg11th May2017- ©2017TwoImpulse- AllRightsReserved25
Q&A
TWO IMPULSECOMPANY PROFILE
APPENDIX
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CORPORATE PROFILE
TWO IMPULSE
▸AICognitiveComputingConsulting– weprovideconsultancyandbuildsolutionsaroundCognitiveComputing,AI,IoT,SmartSearchandIBMWatson
▸ CustomSoftwareDevelopment– wedevelopSaaSsolutionsandproductsusingopen-sourcetechnologies.Wealsoprovidenear-shorecapacity
▸ Products– wedevelopourownproductsandframeworks thatsupportourconsultingservices
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CognitiveBusinessSummit– Hamburg11th May2017- ©2017TwoImpulse- AllRightsReserved
CORPORATE PROFILE
OUR OFFERING
Custom Software
Development of SaaS Products
Near-shore Outsourcing of Development
Services
AI ConsultingCognitive Computing
IoT
Artificial Intelligence
Smart Search
IBM Watson
Products
Cognitive Platform
SaaS Platform
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CognitiveBusinessSummit– Hamburg11th May2017- ©2017TwoImpulse- AllRightsReserved
THE TEAM
PauloCEO
Consultancy,Cognitive Computing, AIArchitecture,Search
JuliaSales Manager
Sales, Marketing, Social Media
RicardoChief Designer
Web DesignUX
JoséChief Architect
Full-StackWeb-Development
JoãoIoTEngineer
DanielSeniorDeveloper
Backend DevelopmentSearch
ManuelApp Developer
App DevelopmentAI
HugoSenior Developer
Frontend Development
AlexSenior Developer
Full-Stack-DevelopmentQualityAI
VitalieSenior Developer
Full-Stack-DevelopmentAI
CORPORATE PROFILE
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CognitiveBusinessSummit– Hamburg11th May2017- ©2017TwoImpulse- AllRightsReserved
DISCIPLINES
ProductDevelopmentData
Visualization AI Front-EndDevelopment
Back-EndDevelopment Chat-Bots SmartSearch UXDesign
SaaSDevelopmentTextMiningand
NLPCognitiveComputing
MobileApps
CORPORATEPROFILE
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CognitiveBusinessSummit– Hamburg11th May2017- ©2017TwoImpulse- AllRightsReserved
TECHNOLOGIES
SpringBoot
MySQL
Elastic ReactJS
OpenNLP
StanfordNLP
GoogleTensorFlow
ActiveMQ
Grails
IBMWatson
MSCognitive
CORPORATEPROFILE
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CognitiveBusinessSummit– Hamburg11th May2017- ©2017TwoImpulse- AllRightsReserved
CAN WE HELP YOU?
▸ Buildingyouanewprototypeorproduct?
▸ IntroducingAIandCognitivecapabilitiesinyourexistingsoftware?
▸ Makingabusinessprocesssmarter?
▸ Extendingyourin-housecapacity?
CORPORATEPROFILE
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IMPULSE-COGNITIVEOUR AI PLATFORM (BETA)
CognitiveBusinessSummit– Hamburg11th May2017- ©2017TwoImpulse- AllRightsReserved
WHAT IF...▸…youhadasystemthat knowseverythingaboutyourbusiness?
▸…thissystemheldallknowledgeofeveryoneinyourcompany?
▸Whatquestions wouldyouask?
▸ Howwouldthischangehowyoudobusiness?
IMPULSECOGNITIVE(BETA)
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CognitiveBusinessSummit– Hamburg11th May2017- ©2017TwoImpulse- AllRightsReserved
MEET IMPULSE COGNITIVE▸ Makeyourcompanysmarter
External Sources: Websites, News, Social
Media, Open data, Wikipedia
Internal Sources: documents, CRM, data
warehouse, databases
Backend AI and Cognitive Services
Content Processing
Services
Smart Index
Business Knowledge Base
Search, Facet Browsing,
Recommendation, Forecasting
Frontend Apps
Chatbot
Speech to Text
Enterprise Search / Intranet
Analytics / Charts
Business 360 View
Natural Language Processing, MachineLearning, Cognitive
Computing
IBM WatsonMicrosoft Cognitive Open Source
IMPULSECOGNITIVE(BETA)
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CognitiveBusinessSummit– Hamburg11th May2017- ©2017TwoImpulse- AllRightsReserved
IBM WATSON▸ WeintegratewiththeIBMWatsonAPIs
inourplatform.AlchemyText,NewsandConversationaretwogoodexamples.
MICROSOFT COGNITIVE
▸ Microsoftoffersawide-rangeofcognitiveservices
OPEN SOURCE▸ Webaseourplatformonopen-source.
Thecommunityisunbeatableintermsofinnovation.
Picture Source: IBM Website
Picture Source: Microsoft Website
IMPULSECOGNITIVE(BETA)
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IMPULSE COGNITIVE WITH IBM WATSON AI
▸ Bringittothenextlevel
Picture Source: IBM Website
IMPULSECOGNITIVE(BETA)
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CognitiveBusinessSummit– Hamburg11th May2017- ©2017TwoImpulse- AllRightsReserved
IMPULSE COGNITIVE WITH MICROSOFT AI
▸ Bring it to the next level
Picture Source: Microsoft Website
IMPULSECOGNITIVE(BETA)
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CognitiveBusinessSummit– Hamburg11th May2017- ©2017TwoImpulse- AllRightsReserved
IMPULSE COGNITVE
Whatwouldyouliketoask me?
IMPULSECOGNITIVE(BETA)
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