Hidden costs in long forgotten contracts equate to risk. Missing out on fulfilling your contractual obligations, or measuring your suppliers against theirs, also means contracts will not be working effectively, as intended.
You need to tackle head on the ability to access all contracts, quickly, easily and perform essential analytics tasks. You need the complete picture, and a manual data extraction is an expensive, slow and non-repeatable exercise:
- Contracts exist in a variety of formats and locations making it difficult to establish a consistent and complete view
- Many contracts will be hard to find and will contain many obligations for your organization, as well as suppliers, making management reporting incomplete
- Tracking and maintaining ownership will be hindered and an incomplete understanding of the complete risk landscape can hold back decision making
A comprehensive contract audit, independent of any Contract Lifecycle Management (CLM) or other project, can therefore be used to validate and benchmark the decision to deploy a CLM solution, support existing enterprise applications such as ERP, CRM etc. or improve the return on new initiatives.
Seal Software Contract Discovery and Analytics quickly locates and identifies contractual documents, extracting key contractual metadata such as contracting parties, contract dates, termination clauses, jurisdiction, right of assignment, pricing and discounting, penalty clauses, automatic renewal, beneficial terms and many more.
Contracts can be analyzed, providing clear and comprehensive reporting and analysis upon which informed decisions can be made. Contracts and the extracted data can be managed in Seal or exported to another CLM or other system.
Join Seal Software for a short, informative webinar to learn how Contract Audit and Assessment from Seal can help your organization take control of your contracts.