Mapping and Digitizing Contracts
VKey maps market data contracts and digitizes contract terms to enable data consumers to identify and understand key terms at a glance. VendEx Solutions’ team of market data experts map contracts to more than 200 terms in 14 categories, leveraging artificial intelligence and optical character recognition to accelerate this process. Master Agreements and all addenda, schedules, and associated documents are all mapped together, saving time identifying current contracts.
- Manage contract renewals and terminations
- Comply with complex data usage rights
- Quickly assess internal contract compliance and risk
- Ensure all legal, contract, and data management staff have the correct legal T&C’s for any product
- Improve accuracy of response by ensuring that all addendums, agreements, schedules, pricing sheets, etc., are mapped to the correct master agreement
- Compare current and historical terms
- Access contracts anywhere with cloud-based hosting
Key terms include baseline meta data and complex terms, such as:
- Data usage rights
- Amount/ frequency of extraction
- Derivative works rights
- Redistribution rights
- Termination rights
- Key definitions
- Audit requirements
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