What is a contract obligation? An obligation is a necessity, a bond, a guarantee; something that must be performed. Lawful wording stipulates the utilization of \”will\” and \”should\” to state firm Obligation in an agreement or a guideline. The expressions \”will\” and \”may\” are likewise used to demonstrate less strong duties, yet are nonetheless significant […]
Manage your contract obligations Read More »
[vc_row][vc_column][vc_column_text]Contract lifecycle management popularly known as CLM is the process of managing contracts from requesting a contract to the disposition of the contract. Various tools and software are available in the market to handle this process effectively. Morden-era tools even allow automated drafting, redlining, digital signatures, and compliance management on the tool itself. Implementing an
Stages for effective contract execution and management Read More »
Blockchain is the technology that runs behind bitcoin the first digital cryptocurrency. It is a distributed public ledger that is used to record transactions across many computers so that it can’t be altered without the modification of all subsequent ledgers and the consensus of the network. Blockchain is a decentralized, peer-to-peer, immutable storage network that
Blockchain- Hottest technology of its time Read More »
Your first reaction when you see reams of paper or contract document files on your computer is often “How do I get a handle on this?” The typical answer that comes to mind is “Let me get a system that manages contracts.” Then you start researching contract management systems vendors. Yes, that is the ultimate
[vc_row][vc_column][vc_column_text]Contract abstraction simply means extracting important data points which include clauses, dates, and meta-data from your contracts. Abstracting essential information from your contracts will help you manage and identify existing contractual commitments. Additionally, this will enable you to analyze risks, obligations, and opportunities to avoid potential legal disasters. Organizations need better knowledge and insight into
Unleash potential of contracts by abstracting key data points Read More »
[vc_row][vc_column][vc_column_text]The more robust systems allow you to track dozens of attributes, the important, sometimes critical data contained within your contracts. Without tracking attributes, you will not be able to make full use of your investment in these systems. As an example, if you do not extract and track basic things like the expiration date, how
How to make contract legal management systems more productive? Read More »
CPQ software is quickly gaining traction in the business world as it illuminates fair prices for products. CPQ is used to help companies to keep prices in line with the current conditions. At its core, CPQ software deals with the three core operations “Configure, Price, Quote” for controlling the prices of a company’s product. C
CPQ – Configure, price, quote What is it? Read More »
Contract Lifecycle Management is no longer a “nice to have” initiative, but rather a “need to have” business practice. With a direct impact on both revenue and expenses as well as the risk profile of a company, many businesses have an elevated interest in implementing automated solutions. The efficiencies introduced by an automated contract lifecycle
Contract Lifecycle Management (CLM) is becoming a “need to have” priority for firms Read More »
In our previous blog, we talked about the CCPA “California Consumer Privacy Act” the data protection compliance which is coming into effect on Jan 1, 2020. The act is modeled after the GDPR \”General Data Protection Regulation\”. People who are aware of GDPR will see similarities with CCPA compliance. Both these compliance CCPA and GDPR
CCPA vs GDPR – Data protection compliances Read More »
Prioritize- set your priorities, knowing things makes it easier to focus on the right information. Set your score points to quantify the vulnerability of risk and its impact on business. This will set your priorities for business activities, financial activities and other facets. Regulatory alerts – Making a clear summary of what needs to be done; deadlines,
Ways to adhere risk management Read More »
