Contract risk management
Contract risk management refers to the assessment of contract risks posed to a given company contract lifecycle management portfolio, and then the strategy developed to effectively manage the identified present and potential contract risks. An effective contract risk management strategy will identify how much risk each contract contains as well as the total amount of contract risk contains within the company?s whole contract portfolio. Contract risk management is often an afterthought in procurement and contracting circles. In many companies, once a contract has been closed, it is too late to develop a strategy to manage all of the potential risks the contract may have created. An effective strategy includes using contract management software to automate these processes and deliver more value to an organization by improving efficiency and reducing errors. Dock 365 provides a contract lifecycle management solution that automates the creation and monitoring of contracts, as well as their distribution for signatures.
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Category: Business & Industrial
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