Archive: April, 2011
Compared to the typical environment for bilaterally traded OTC derivatives, central clearing adds complexity through the inclusion of multiple parties and the need to manage different sets of legal contracts. In this new market environment, if documentation management is not streamlined, financial institutions will face increased legal costs and operational risks.
To best cope with this processing burden, financial institutions will need to automate documentation management processes to manage both the increasing volume and use of a wider range of legal contracts required to support central clearing of OTC derivatives and other future industry changes including new regulation.
In a virtual roundtable discussion on May 17 at 10:00 am (EDT), panelists will offer advice for what financial institutions should review in their legal documents and how to most efficiently manage documentation to reduce operational risk and related costs.
You like to think you’re efficient- don’t you? Maybe even more so than the next person. These days, efficiency is more important than ever and no where is it more important than in your contracts process.
We’re always examining contracts practices across businesses to understand the processes and technologies in place to address the challenges in contract creation and management, risk management and compliance. So we created this instant, 4 question poll to take a quick snapshot of sales contracts practices.
By participating in the poll, you will see instantly how your sales contracts practices compare with those of your peers and be able to benchmark your performance.
Update: the poll has ended. If you’d like to learn more about automating your sales contracts, check out our webinar.
The legal department generally owns the sales contracts process, but clearly sales management has a stake. While Legal is concerned with reducing risk, Sales is concerned with speed. And other departments are charged with performing analytics on the data contained in those contracts. In this 60-second video, Therese McGee, Exari’s VP of Marketing, discusses these issues and cites the benefits of streamlining the sales contracts process. For more information on this topic, download our whitepaper: Contract Competence: On time and Compliant.