Austin, TX (PRWEB) May 11, 2006
FineTooth announced today it has enhanced its automated contract conversion technology to manage contract amendments.
In the latest release of its contract management solution, FineTooth has added support for automatic processing of contract amendments. This capability expands the use of the company’s DeepReader™ technology to process contract amendments to keep the contract repository up to date. With this addition, the advantages of automated contract conversion are applied to the later stages of the contract lifecycle.
Higinio Maycotte, CTO at FineTooth says “Our DeepReader technology solves one of the most ubiquitous problems in contract management; extracting the information in paper contracts to create digital business intelligence -- a process called contract conversion. The problem of contract conversion has been identified as one of the most difficult, expensive and common pitfalls associated with implementing commercial contract management solutions. DeepReader eliminates the need to employ manual abstraction for conversion and extends beyond the reach of contract authoring technology to deal with the problems of contracts written on other people’s paper.
We have now enhanced DeepReader to deliver the same advantages to our customers who routinely deal with contract amendments. DeepReader can now easily, rapidly and accurately process the documents authorizing and defining contract amendments to update the contract repository and the audit trail of contract activity.”
Jamie Lagarde, President of FineTooth adds “This development eliminates yet another manually intensive task associated with managing contract information. This enhancement provides further proof of our technology and our differentiating value.”
FineTooth converts contracts into a performance-based management tool -- instead of passive collection of documents sitting in a file cabinet. The OnDemand, role-based contract management solution provides all stakeholders with the tailored information needed to put agreements back under proactive control. FineTooth’s unique technology automates the task of identifying, organizing and managing your contract information resulting in higher realized value, minimized regulatory risk and higher total accrued value.
For additional information on FineTooth, Inc. please visit http://www.finetooth.com.
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