Contract extraction is a vital process in contract lifecycle management that involves identifying and extracting relevant information from contracts for analysis and efficient management. Key data points and clauses are identified and extracted using advanced technologies, enabling easier access and comparison of contract data. By organizing and extracting contract information, organizations gain valuable insights and make informed decisions. Contract extraction improves compliance monitoring, contract renewal management, and performance tracking. It enhances contract efficiency, saves time, and increases productivity. In summary, contract extraction streamlines contract analysis, decision-making, and management, improving overall contract efficiency and effectiveness.