Archive: October, 2016

Cloud Software Rains on End-Users

Do DNS attacks mean you should have a backup plan?

Last week, DNS attacks leveled key gateways leading to dozens of outages amongst business applications. For so many companies who have become dependent on SaaS applications or cloud-based services it was a scary event that at a minimum led to a loss of productivity.

Do DNS attacks qualify as a disaster?

They can. There is no guarantee that a provider can get back up quickly. Many of our competitors tout they are “cloud only” and bragging that on-premise software is dead and buried.

We offer a web-based solution, but allow customers to deploy in their private cloud, the public cloud or on-premise. In the event of a disaster, our customers can re-deploy their applications and recover their data to a protected, in-house offering. Sure, it’s not immediate but it beats never knowing if you can get back up and running.

Make sure you protect your contracts. The Cloud is great, but without a backup option you won’t end up with sunny skies.

To find out more about how you can protect your contracts with Exari, click here.

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

“Contract Theory” Economists Celebrated with Nobel Prize

In Cambridge, just across the Charles River from Exari’s Boston headquarters, MIT’s Bengt Holmström and Harvard’s Oliver Hart have spent decades researching contracts, both how they look and how they shape our world and daily lives. On Monday, they were awarded the 2016 Nobel Memorial Prize in Economic Science for their research into “Contract Theory.”

Reflecting on the work of Dr. Holmström and Dr. Hart, The Royal Swedish Academy of Sciences, which awards the prizes, explained “Contract theory provides us with a general means of understanding contract design. One of the theory’s goals is to explain why contracts have various forms and designs. Another goal is to help us work out how to draw up better contracts, thereby shaping better institutions in society.”

Dr. Holmström and Dr. Hart
Dr. Oliver Hart and Dr. Bengt Holmström. Illustration: NobelPrize.org

The work of both economists isn’t merely theoretical, but carries every day, real world implications. Dr. Holmström’s work explores the effects of human behavior on employment contracts, identifying what type of contracts best balance incentives, compensation, and risk. Meanwhile, Dr. Hart takes a more macro view, exploring the actual structure of contracts, concluding that contracts must remain “incomplete” insofar as they should outline how a decision should be made since it’s impossible to develop rules for every eventuality.

By recognizing their seminal research, the Academy has shone a spotlight onto both the universal importance of contracts themselves and the many contracting issues facing businesses as new technologies and best practices revolutionize a generations-old system.

As data has replaced approximation, CXOs are demanding complete and immediate visibility into every corner of their businesses. Risk mitigation. Regulation compliance. Revenue recognition. Spend control. Accelerated sales. There’s no part of a business that isn’t governed by contracts, which have turned enterprise-wide contract management from a “nice” feature into an absolutely necessary one.

In the closing of their announcement, the Academy explains that thanks to Dr. Holmström and Dr. Hart, “we now have the tools to analyze not only contracts’ financial terms, but also the contractual allocation of control rights, property rights, and decision rights between two parties.”

Thankfully, those tools are available. At Exari, we’re obsessed with helping companies understand the vast amount of complex data residing in their contracts. Our patented contract management software is so effective at transforming contracts into data, we consider it providing 100% Contract Certainty™. If you’re interested in learning what Contract Certainty can mean for your company, you can contact us here or have a look at this quick video.

9.thumbnailMat Calabro is Exari’s Marketing Specialist. Reach out in the comments or on twitter @ExariMat