A couple of weeks back, I talked with Colin Haywood, CEO of Chinsay. Chinsay is a specialist in contract data and has a singular focus on “contracts and removing paper from people’s desks,” he told me. It has just announced its cloud-native Intelligent Contract Platform (ICP), which it claims is “architected to make the best use of AI as it evolves, revolutionises the use of the latest technology, creating a totally new way to negotiate, capture and manage the full complexities of commodity contract creation and management. Working with major clients and commodities market professionals, Chinsay has developed the next-generation platform, bringing digitalization (the process of structuring data and extracting business intelligence) to the market and moving commodities firms towards paperless trade and blockchain-based initiatives.” As Mr. Hayward describes it, the platform is focused on data in and around the issuing and drafting of contracts. “It’s more of a data capture platform to help gain insights into contracts,” he said. “Much of the commodities market is still relying on manual contract creation and expensive legacy systems. This is not sustainable in today’s low-margin, highly-competitive climate. ICP creates an undisputed ‘Golden Copy’ of the contract in the form of a digitalized… continue reading
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