Binadox: A Smarter Tool for License Processing
In the previous posts we talked a lot about the importance of being aware of the terms and conditions of license agreements your employees accept to install software or subscribe to cloud services. In this post we’ll explain the procedure for processing an EULA or ToS using Binadox.
Every time a new piece of software is installed or a new SaaS is signed up, the Binadox end point monitor on the host machine captures the license agreement or ToS, respectively. If the license agreement is not intercepted along with the software installation, Binadox will extract it from the Binadox License Database. So all the license agreements and ToS of the software assets across the organization are always at hand.
All the license agreements are stored on the Binadox server with an intuitive web-user interface. On the server, you can view the license; set its status – approved, rejected, or unset; and compare it to other licenses.
Any license agreement can be viewed in the Unified Viewer. The Unified Viewer parses and formats the intercepted license agreement text to ease reading and displays it in a presentable form. To facilitate the license agreement analysis, the Unified Viewer also features three tabs and three levels of detail.
The tabs are “Contents”, “Definitions”, and “Topics”. The Contents tab eases navigation between sections of the license agreement. The required section opens by a click on its title in the Contents tab. The title of the opened section is color-highlighted in the tab, and the corresponding section is temporally highlighted in the license text. The Definitions tab contains key concepts that are used in the license agreement. Clicking any concept name in the tab opens its definition in the text. The Topics tab is the list of most important topics of the license agreement. The text of any topic in the license can be opened with a click on its title in the Topics tab.
The natural language processing and machine learning algorithms allow Binadox to summarize the license text. The Unified Viewer features three levels of detail. The 3rd one displays the whole text, while the 1st and the 2nd levels display the title and summary of the license agreement, and titles and summaries of the license agreement and of each section, respectively. All these features allow legal and IT departments save time and efforts when analyzing license agreements and terms of services.
Upon license analysis you can make a decision whether to approve, reject, or leave the license agreement status unset by changing its status in the Installations projection. To save time in the future when dealing with similar license agreements you can create a rule. The rule will automatically assign approved, rejected, or unset statuses to license agreements according to the parameters you set.
Binadox further simplifies license search and analysis and saves time with such features as filters, heatmap, similarity, and compare tools. Filters speed searching allowing you to sort licenses according to the desired criteria. The Heatmap sorts license agreements by similarity and displays their similarity using a special color scheme. The Similarity and Compare tools also accelerate analysis of similar licenses so you can concentrate on the differences between two licenses and skip reading their whole texts.
A list of all licenses is available in the Document Browser, where you can also find previous versions of a license agreement, if any, to see changes in the latest version and make a decision about its status.
Thus, there are mainly three basic stages of license processing with Binadox:
- License review
- Status setting
- Policy making (creation of rules)
All these features and capabilities based on NLP contribute to improving compliance and efficiency by saving time, funds and efforts of legal and IT specialists.