Lyncs

Logical Construct and Thomson Reuters Collaborate on Contract Data Management

Thomson Reuters has teamed up with Logical Construct to help global financial institutions gain visibility into the key legal and economic terms and risks hidden within their legal documentation with a full-service contract data management solution.

“Many financial services companies still face the daunting challenge of accessing data that lies buried in image-based scans of contractual documents,” said Luke Trigg, Managing Director, Logical Construct. “We are excited Thomson Reuters is collaborating with us and leveraging our platform to round out its industry-leading legal managed services for the benefit of global banks and other financial institutions.”

7 deadly sins

Seven Deadly Sins of Contract Data Capture

1. Unwitting ‘standardisation’ – the temptation to knock a few edges off a square peg and squeeze it into the round hole provided in the data capture platform, to avoid yet another agreement that’s ‘stuck’, waiting for an upgrade to the application. Of course it will be the provisions where transparency is key that will be swept under the carpet in this way.​