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"How to Reduce Risk with Contract Management in 2017?"

How to Reduce Risk with Contract Management

White Paper: Conga Novatus

In this fast-moving and highly competitive global marketplace, proper commercial contractual risk management is necessary for success. Ongoing successful company revenues, profits, and reputations can be wiped out quickly by ignoring or not discovering contractual risk threats.

Conversely, if an entity is protected from contractual risks and threats, it can effectively concentrate and focus on its business without distraction.

This Conract Management whitepaper describes where the weak points in the contract lifecycle appear, and where risk is most likely to be introduced into the process to establish bulletproof contract management procedures.

 Key takeaways from this Contract Management White Paper:

  • Automatic renewal of contracts

  • An inability to access contract terms

  • Important features for any contract management plan

  • Minimizing Contractual risk with an effective CLM tool

How to Reduce Risk with Contract  Management
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Automating the Entire Contract Lifecycle

Today, efficiency is a necessity for implementing and main¬taining a foolproof Enterprise Contract Management (ECM) system–and doing so can re¬sult in substantial revenues and cost savings, while minimiz¬ing business risk. Businesses are looking to leverage smarter technologies in their contract management system to make it possible for teams to handle ever-expanding demands. With execu-tive teams typically hesitant to commit additional resources to contract management functions, CIOs need a cost-effective system that can allow lean teams to design the patterns of contract behaviors for repeated use without getting hands-on and knee -deep in every contract.

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What is

What is Risk Management ?

Risk management is the way of identifying, measuring and dealing with the threats to an organizations capital and earnings. Definition according to ISO 31000 Risk management is the way toward assessing the chance of loss or damage and finding a way to battle the potential Risk.

What is business process management ?

Business process management is a systematic approach to business processes of a company which cover how we think, change, and monitor business processes so they run easily and can be enhanced after some time. BPM (Business Process Management) is a field of management that acts as a systematic approach for making organizations Workflow more effective, more efficient and hence improving the corporate performance by managing business process in the organizations.

What is Disaster Recovery Plan ?

A disaster recovery plan is a documented, approach with instructions to deal with unplanned incidents. This plan involves the precautions to be taken by an organization, so as to reduce the effects of a disaster. Disaster recovery planning is done to enable a company to operate or resume its mission-critical functions. The increasing dependency on information technology by organizations for running their operations has resulted in a disaster recovery plan to be increasingly associated with

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