Contract Discovery - The Challenge
Identify and Manage your Contract Risk
A typical global organization can have between 15,000 to 40,000 contracts in place with little to no visibility or control over their legacy contracts. Non-fulfillment of contract milestones and obligations is a costly process ending in penalty payments and missed commercial opportunities. This can have severe repercussions and can impair any business decisions related to contracts.
For many organisations, their legal, procurement and commercial teams, spend a significant amount of time and resources negotiating the terms and conditions of a contract. In most cases this is scanned in as an image file and stored electronically or filed away in a filing cabinet in paper format. Once the contract is signed, it may never be viewed again unless an event triggers requires someone to locate and review the contract.
An average procurement or commercial contract will contain a mixture of critical dates and obligations or commitments. These need to be tracked and managed effectively in order to maximise the value from the business relationship. It is not commonly known that more than 50% of all litigation cases are directly related to contracts and contract disputes.
The Solution
Seal Contract Discovery (cDiscovery) was developed specifically to help businesses gain visibility, control, mitigate risk and manage their contracts. Seal cDiscovery is an out of-the-box deployment solution providing an intuitive user experience. This empowers the users responsible for contract review and analysis, to effectively and efficiently discover, control and manage company contracts.
The resulting value provided by Seal cDiscovery ensures a swift Return on the Investment (ROI) to the business.
Seal Software Group www.seal-software.com
By Guest Blogger: Seal Software Group
