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Tackle Contract Management Challenges with Selectica Contrac

Download the White paper from http://bit.ly/1qtR0Ce Today, contract management is one of the biggest challenges companies face. To address the issue of large amount of unstructured data, companies are looking for information governance to ensure effectual enterprise contract lifecycle management. Go through this presentation to understand how Selectica Contract Discovery and Contract Analytics solutions empower the user to search across the contract corpus, extractspecific clauses and help companies mitigate risks, ensure compliance and maximize revenue.

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Tackle Contract Management Challenges with Selectica Contrac

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  1. Agile Contract Governance: The major challenges & how to address them

  2. “ If you think compliance is expensive, try non-compliance. ” - Paul McNulty, former U.S. Deputy Attorney General

  3. Contracts: an invisible risk Did you know? The dominant category of litigation is contracts 2012 > Of all pending litigations , 44% in US & 57% in UK involved contracts 2010-2012 > 54% of companies spend more than a million dollars on contract litigation 2011-2012 > The number of contract lawsuits jumped from 83% to 86% in US, 48% to 86% in UK

  4. Enterprises face contract related challenges 40% increase in new contract data Difficult to separate relevant data from irrelevant Contract Management Challenges 2x increase in new data every 2 years 90% of that contract related data is unstructured

  5. What do organizations need? Discover contractual documents Search and take action on contractual assets Search a rendition of the contractual image Automatically extract key metadata Surface contractual information Consolidate contractual data in a single repository to reduce time and costs

  6. Discovered & classified data to address the challenges1. Policy Driven Contract Information Search across their contract corpus Identify and extract from specific contract documents Review discovered contracts Save time and mitigate risk Add contractual paragraphs & sections Define policy groups

  7. Discovered & classified data to address the challenges2. Non-Standard Clause Detection Selectica Contract Discovery Analytics Challenges • Discovering negotiated clauses • Discovering clauses that differ from the approved corporate template • Learning what 3rd party clauses are, to review and approve them • Detects group and presents any • non-standard clauses for review • Reduces review and approval time Powered By

  8. Discovered & classified data to address the challenges3. Proactive Contract Template Management Selectica Contract Discovery Analytics Challenges • Proliferation of contract templates • Lack of control associated with contract templates • No quick recognition and classification of items • Agile contract governance • Contractual information to make informed decisions on complex scenarios Powered By

  9. Summary Contractual information is critical to the organization Need for proactive solutions > intuitively and dynamically ask questions of the contract estate Resultant data helps to make informed decisions > reduces time and unnecessary costs

  10. To read the complete white paper on ‘Agile Contract Governance: The Major Challenges & How to Address Them’ Download www.selectica.com :

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