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 »
We are aware of the GDPR compliance which was implemented for the protection of European citizens. Now comes another act in data privacy – the California Consumer Privacy Act, signed on June 28, 2018, by Governor Jerry Brown. The CCPA\’s intent is to protect California consumers\’ rights so that there is privacy and transparency. It
CCPA compliance – What all to be known Read More »
When clients are dealing with contracts or legacy contracts, NLP/AI technologies can be used to extract salient data points. This data is then loaded into a CLM (Contract Lifecycle Management System). Having good software for the extraction of data is essential, but it is not sufficient if any accuracy is desired. Why is accuracy a
Data extraction from contracts – in-house or outsourcing to a specialized firm Read More »
Vendors play a vital role in the success of your business regardless of what business you’re in. From office equipment to software, from raw materials to services, businesses rely on third-party vendors, it can be easily said that though they are the external parties for a business but can easily influence and affect the operations
Vendor Contract Management and its importance in your business Read More »
Contract Lifecycle Management (CLM) systems are the need of time. The very importance of these systems is that they allow users to centralize contract storage and management, plus aid in the creation of new ones that fully comply with the company’s policies and requirements. Also keeping your contracts in these systems helps in enabling the
CLM system and Benefits Read More »
Spend management, is a process of comprehensively managing, optimizing, and controlling the money spent by organizations. It is the contemporary way of managing supplier relationships and identifying money spent on purchases. Spend management encompasses of procurement, invoicing, outsourcing, and supply chain management. Enterprises have larger routine transactions which require a lot of time and effort.
Spend Management a strategic business activity Read More »
The ultimate goal of automating contract abstraction is to lessen the business and reputational risks of corporations by ensuring they comply with the terms and conditions of every contract. Most importantly, automated contract management enables corporations to foresee their rights and obligations, and thus prevents future litigation and its cost. Automated Contract Abstraction Puts pertinent
A New Era for Contract Management – Automated Contract Abstraction Read More »
