Contract Governance: An Invisible Risk

CONTRACT GOVERNANCE: AN INVISIBLE RISK 2010-2012 2011-2012 2012 Increase in contract lawsuits The dominant litigation category was contracts 54% of companies spend more than $1M on contract litigation 83%→86% 48%→86% in US 44% 57% in UK in UK in US Businesses are built on contracts 40% Difficult to separate relevant data from increase in new Why managing contract data irrelevant contracts is a every year mammoth task 90% 2x of contract related increase in new data data is unstructured every 2 years Enterprises need solutions to solve challenges like Proliferation of Lack of control Inability to recognize and classify items Discovering negotiated clauses Consolidating data into single repository contract on contract templates templates Agile Contract Governance Build stronger enterprises with Selectica Contract Discovery and Analytics Policy Driven Contract Information Non-Standard Proactive Contract Clause Detection Template Management • Make informed decisions on complex scenarios • Reduce review and approval time • Detect group and present any non-standard clauses for review • Reduce review and approval time • Define policy groups • Search, identify, extract and review newly discovered contracts • Save time and mitigate risks • Respond swiftly to new requirements Download the whitepaper from http://pages.selectica.com/agile_contracts Source : 9th Annual Litigation Trends Report Survey (Fulbright & Jaworski L.L.P., 2013) selectica Powered By S seal © 2014 Selectica, Inc. www.selectica.com