AI Based Contract Analytics A must to mitigate Enterprise Risk (Computers - Software)

USNetAds > Computers > Software

Item ID 130667518 in Category: Computers - Software

AI Based Contract Analytics A must to mitigate Enterprise Risk


It is a known fact that the success of any organization is solely dependent on the volume of business they do in a fiscal year along with how they were able to effectively manage risks arising from the contracts they have signed with their vendors, customers, partners and employees

To start with, lets understand the various ways an Enterprise can be exposed to potential risks regarding the contracts.

Unable to trace the signed contract on time
Contracts are managed by various stake holders across the organization and several copies are rotated back and forth until the final contract is signed off by both parties. Most organizations who do not have a central repository of contract documents keep these signed contracts in several places that include Emails, Cloud storages like Google Drive, Drop box, file cabinets in case of paper based scanned documents, USB drives and so on. When there is a contract breach or dispute it becomes humanly impossible to go over so many places and sniff through the contracts and get to the right one on time.

Auto Renewal of a Vendor Agreement without notice
Every organization enters into agreements with the vendors from whom they take services. For various reasons most of these vendor agreements have renewal terms in such a way that unless there is a prior written notice within X days of the agreement termination, the agreement that the organization has signed gets auto renewed for another term. This can become a potential risk especially when the organization is not very happy with the services and wanted to terminate but has lost track of the agreement dates resulting in auto renewal of the signed agreement.


Related Link: Click here to visit item owner's website (0 hit)

Target State: California
Target City : All Cities
Last Update : Feb 14, 2020
Number of Views: 15
Item  Owner  : Docskiff
Contact Email: (None)
Contact Phone: (None)

Friendly reminder: Click here to read some tips.
USNetAds > Computers > Software
 © 2020 USNetAds.com
2020-02-28 (0.077 sec)