Mumboe Introduces On-Demand Contract Intelligence™ : New Version of Contract Management Application Features Industry's First Auto-Extraction Technology for Business Agreements

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Mumboe™ today announced a new version of its contract management application featuring On-Demand Contract IntelligenceTM, the industry’s first auto-extraction technology designed specifically for business agreements. Based on the company’s proprietary semantic processing engine, the new capability helps organizations such as legal departments, sales, purchasing and human resources organizations greatly reduce the time and effort they spend tracking and managing their contractual commitments.

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I've used it for licensing contracts, sales agreements and to keep track of relationships. The fact that it's web-based has been a great advantage to us as it allows low-cost implementation, no upfront commitments and universal access. It's contract management software for 2008; every other service I looked at was a decade behind.

From expiration and renewal dates to discounts and rebate windows, business agreements of all types contain critical details that can directly impact a company's financial picture. Mumboe's new On-Demand Contract Intelligence capability lets users automatically extract key dates, deadlines and other details from agreement documents, and manage those details as actionable business data.

Initially launched in March 2008, Mumboe has attracted more than 5,000 users with its simple, affordable contract management approach. Customers range from small businesses and nonprofit organizations to well-known corporate brands such as Register.com and Lionel LLC, the popular model train manufacturer.

"Mumboe has repeatedly exceeded my expectations in allowing me to extract, sort and manage my contract data in any manner I choose," said William Finkel, manager of business affairs at Lionel LLC. "I've used it for licensing contracts, sales agreements and to keep track of relationships. The fact that it's web-based has been a great advantage to us as it allows low-cost implementation, no upfront commitments and universal access. It's contract management software for 2008; every other service I looked at was a decade behind."

Developed over several years in real-world business applications, Mumboe is the only contract management application that can automatically extract specific information and terms from contracts such as:

Responsible Parties (including Names and Addresses) Effective Date Expiration Date Term Duration and Context Governing Law Scope and Purpose Clause Arbitration Clause This effectively eliminates the countless hours contract managers spend manually entering agreement data into spreadsheets or agreement summaries. Extracted information can be edited and saved in an agreement summary screen, making it easy for users to quickly search and retrieve the data when needed. To verify data accuracy, users can view an excerpt of the text from which the data was extracted, or click on a hyperlink to jump directly to the place in the source document where the data originated.

"From the beginning, we've focused on delivering the contract management capabilities our customers tell us they need most, minus the high cost and complexities found in traditional contract management applications," said Bill Kane, Mumboe's CEO. "With Mumboe's new On-Demand Contract Intelligence feature, we've made it even easier for our customers to keep tabs on their important business commitments."

Starting today, Mumboe's new On-Demand Contract Intelligence feature will be included free in all versions of the product. In addition, the Mumboe application offers businesses a full set of contract management capabilities including a secure online repository, an agreement template library, alerts and reminders, and a full audit trail of agreement changes and revisions. These capabilities, combined with Mumboe's free starter account and pay-as-you-go pricing, provide cost-conscious organizations with a compelling alternative to expensive enterprise contract management solutions.

The Mumboe application is available in the following versions:

Mumboe Express – includes up to 10 agreements or 50 MB of storage, and shared access for up to three users. Price: free with a valid email address. Mumboe Pro – includes up to 250 agreements or 1 GB of storage. Price: $24/User/Month. Additional Storage – up to 100 agreements or 1 GB of storage. Price: $12/Account/Month. About Mumboe

Mumboe is a privately held company headquartered in Austin, Texas. For more information, visit http://www.mumboe.com.

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Cybele Diamandopoulos
Mumboe
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