Paralegal Services
The Role of Contract Extraction in Contract Lifecycle Management
Contracts are the foundation of every business relationship. They define obligations, revenue streams, compliance requirements, and risk allocation. Yet in many organizations, contracts remain underutilized as strategic assets. Instead of being structured, searchable data sources, they sit in folders as static documents. In 2026 and beyond, businesses cannot afford this approach. Contract extraction has become a critical component of effective Contract Lifecycle Management (CLM), transforming contracts from simple documents into actionable business intelligence. This article explores what contract extraction is, why it matters, and how it strengthens every stage of the contract lifecycle. What Is Contract Extraction? Contract extraction is…