Contract Risk Management - Breaking Down the Basics

By Reshaun Timmons on 08/17/22

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Proper contractual risk management is critical for the preservation of a healthy contracting process. Failure to adequately manage risk can be disastrous. Harmful risk oversights not only affect legal teams – but organizations as a whole.

Your organization should work to avoid a breach of compliance, violation of contract terms, lost revenue, wasted time, lawsuits, and a damaged company reputation. As such, let’s break down contract risk management and how it can be maximized with contract management software.

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Enhance Corporate Compliance and Risk Management With CLM Software

By Sean Heck on 04/7/22

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Corporate compliance and risk management are critical for the success of a contract.  Organizations need to be aware of potential exposure to financial risk, legal penalties, breaches of contract, and other risks while adhering to industry laws, government regulations, internal policies, and other compliance rules.  Failure to do so can result in a lack of corporate compliance, contract failure, lawsuits, a compromised reputation, data leakage, and worse.  Luckily, organizations can leverage leading contract management software to enhance corporate compliance and risk management.  Here's how.

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6 Ways Contract Creation Software Can Improve Your Contracting Process

By Sean Heck on 03/28/22

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Contract creation is a multi-faceted process.  Without the proper procedures, your organization can suffer from increased risk, drawn-out contract lifecycle times, and missed opportunities - among other deleterious consequences.  Contract documents and data stored on spreadsheets, email servers, and shared drives alone can result in lost contract documents and versions.  Back-and-forth contract drafting via email can result in slow collaboration times and unclear document versions.  An inadequate clause management process can result in the wrong clauses being included in contracts and missed opportunities.  Wet contract signatures can result in long send-to-sign times and costly postage expenses.  What's more, risk can increase, resulting in lost revenue, data leakage, lawsuits, and more.  Fortunately, you can leverage contract management software to avoid sending your contract creation process into a tailspin.  To that end, here are six ways contract creation software can improve your contracting process.

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Manage Contract Risk - Contract Management Best Practices Series

By Sean Heck on 12/16/21

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Managing contract risk is crucial in ensuring the health of a contract.  Overlooking unchecked contract risk variables can have catastrophic consequences for not only contracts – but for your organization as a whole.  In order to avoid wasted time, wasted revenue, a damaged organizational reputation, lawsuits, and more – embrace contract risk management best practices.  Learn how with this blog from our Contract Management Best Practices Series.

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