Archive: October, 2015

Why Everyone Should Stress-Test (Not Just Big Banks)

“You’re wanted upstairs.  Now.  As in, immediately.”

There’s nothing quite like these words to kick off a relaxing day at the office.  You head up to the executive suite wondering what fire-drill, or firing offense, awaits.

As you walk in, the Wall Street Journal flies across the room and lands at your feet.

“Our biggest back office vendor has been hacked.  It’s a disaster.  Apparently it happened a week ago.  So why am I finding out about this in the Journal?  What’s our legal position?”

You pause.  You think.  Where is the contract?  Did I negotiate that one?  Was there an obligation on them to report incidents like this as soon as they occurred?  What’s our obligation to notify affected customers?  How much time have we got?  What if the vendor goes under?  Can we terminate and switch vendors?  Or was this exclusive?  Can they hide behind capped liability?

So many questions.  So little time.  So many angry executives.

What happens next depends in large part on how well you stress-tested your contracts before an event like this.  If you planned ahead and created a trusted source of operational contract data, you can probably answer many of these questions quickly and with confidence.  If you did nothing to prepare, you will likely spend the day (or the week) running around like a headless chicken, looking for contracts, scrambling through paperwork, and wondering how to say “I don’t know” without sounding like an idiot.

And this is just one stressful event.

There can and will be many others: corruption scandal, currency crisis, regulatory investigation, product recall, patent litigation, credit crunch, and more.

But don’t stress out.  Stress test.  Get ahead of the problem.  If you stress test ahead of time, you can fix the weak links.  If you wait for a crisis, it’s too late.

Join us for a free webinar on Thursday, October 29th at 11am EDT to find out how to best prepare for a crisis and protect your company and your job. Click here to register or to learn more.

Jamie Wodetzki is Exari’s Co- Founder & Chief Product Officer. Reach out in the comments or @wodetzki

DocGen 7.0 So much more than better documents

Today we announced DocGen 7.0, a major release in the history of this market-leading product. For those of you who are new to Exari, we were the first XML-based document assembly product on the market nearly 15 years ago. Today, our DocGen engine powers thousands of documents and contracts for hundreds of thousands of users worldwide.

What makes this release so great? It’s simple. It’s easy to use, and it is designed to be responsive, which means that no matter what device you use it on, be it phone, tablet, laptop or desktop, the application automatically resizes itself so it is as usable on a phone as it is on a 27” monitor. That’s cool.

We’ve also dramatically improved its authoring capabilities and greatly increased the ease with which you can integrate DocGen with other enterprise applications. That’s important because more and more, contracts are becoming living, breathing things. If you have consistency in your contracts, you protect yourself from risks like uncapped liabilities, bad termination language and potentially costly exposures.

For some customers, the risks are real. One prospect told us that a Word template had been modified and the limitations of liability clause removed and that template was then used hundreds of times. The risk is real.

Come check out DocGen 7.0. It’s the next great thing in contract management.

Bill Hewitt is Exari’s CEO. Reach out in the comments or @billhewittCEO. 

Bleeding Edge

Contract management has been around for years; as I’ve written before, most systems are document based. The future- and the bleeding edge- is data-based.


Because contracts are becoming more and more operational. Global trade has expanded the complexity and variability of these contracts to the point where they can no longer be filed away. The terms, obligations and risks can impact the supply chain, talent management, currency hedging and vendor risk management to name a few. As a result, contracts are living, breathing data attributes that need to be shared, measured and monitored in real-time.

As a provider of contract management across the globe, we’ve seen virtually every use case, but the ones that are driving companies to new heights are those that treat contracts as operational assets.

Hedge funds managing counterparty risk. Global capital markets firms managing complex trading agreements. Global insurers managing the underwriting process- all using Exari to streamline the process but more importantly to operationalize their contracts as a cornerstone of their most important business process.

So what’s this all about? It’s about making companies more competitive. Going to market faster. Driving consistency. Capturing missed revenue opportunities. Reducing risk. Creating new business lines, and capturing market share.

It’s a fact- if you can operationalize your contract assets, you become more efficient, more competitive and smarter than those around you.

In short- you win.

Bill Hewitt is Exari’s CEO. Reach out in the comments or @billhewittCEO.