Banks are governed by complex regulations that need to be adhered to, to avoid penalties. Advanced contracting solutions enable banks to be fully compliant.
Transport and Logistics (T&L) sector is growing rapidly due to globalization, growing popularity of e-commerce and technological advancements. It’s also witnessing a rise in environmental regulations and constant update and changes to federal, state and international compliance laws. Here's when automated, integrated contract management solutions come to the rescue.
From ever-changing federal, state, environmental regulations and missed obligations, to fine-print blind-spots – contracts are ridden with a long, complex list of risks and threats. Read on to find out the Contract Management Mantras for Effective Risk Mitigation
With an automated, integrated CLM solution, sales teams will not only be able to close sell-side contracts faster but will be able to ensure better contract compliance, accuracy and consistency.
Infographic – Artificial Intelligence Powered Contract Management: Transcending the Time and Cost Barriers
Contracts, today, are not static, unyielding documents to be archived, rather live, strategic tools that drive operational value from the written word to the enterprise. An International Association for Contract and Commercial Management (IACCM) study reveals that poor contract management can result in revenue losses to the tune of 9.2 percent every year.
As global enterprises manage hundreds of contracts on an annual basis, manual management processes prove insufficient. Businesses are now migrating from rudimentary contract management systems and databases to full-fledged contract lifecycle management (CLM) solutions so they can track operational and strategic KPIs.
Ultria recently published a detailed survey report on ‘How mature is your Organization’s Contract Management?’ to understand the maturity of organizations in adopting next-gen contract management solutions.