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Contract Advantage

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What is Lyncs?

A uniquely crafted contract data management system specifically designed for the financial services industry. Users can seamlessly upload files through drag-and-drop functionality, bulk uploads, or a dedicated API that securely integrates scans into the Lyncs platform. Moreover, entity reference data can be loaded to guarantee the accurate organization of scans throughout the system. The platform features automated duplicate detection, which combines machine learning with a rule-based hybrid auto-classification method to improve accuracy. Scans are organized by entity, type, and date, allowing for precise extraction of terms while taking amendment chains into account. To maximize precision and effectiveness, various techniques are utilized to automatically extract data from documents, merging machine learning, predefined rules, and user-assisted data capture. Each stage of the document processing is enhanced by a role-based workflow, enabling documents to be locked to prevent unauthorized changes, assigned to particular users, and moved through different workflow states via promotion or rejection. The system also boasts robust version tracking, auditing functionalities, and a data 'time-machine' feature that provides improved oversight and management. This comprehensive suite of features guarantees an exceptional level of control, accuracy, and efficiency in the realm of contract data management, supporting users in navigating complex regulatory environments.

What is Contract Advantage?

Great Minds Software has developed a comprehensive suite known as Contract Advantage, tailored to address the unique challenges faced by various industries in contract management. This suite comprises three primary products: Contract Advantage WebEssentials, Contract Advantage WebPro, and Contract Advantage WebElite. This integrated tool facilitates seamless tracking of vital information, including involved parties, terms, deadlines, deliverables, and related documents. Key functionalities encompass effective document management, robust contract oversight, automated document assembly, a thorough audit trail for history tracking, and advanced multilayered security measures, among others. By utilizing this software, organizations can enhance their efficiency and compliance in handling contracts. Additionally, users benefit from a user-friendly interface that simplifies the management process for all stakeholders involved.