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Automating Contracts and Exposing Risk In Your Organization

Automating Contracts and Exposing Risk In Your Organization
Automating Contracts and Exposing Risk In Your Organization

March 14, 2019 Mary Curtin Risk and Compliance  

It’s Time to Manage Risk in Your Firm

We know that you have to spend money to make money, but that shouldn’t mean you spend an excessive amount of cash to secure and draft your contracts. Through streamlining your data extraction and managing your agreements, your company will reduce the time and money spent to protect your assets. With an estimated $270 billion spent on compliance- related costs each year, operating intelligently is as important as ever.

The Only Constant is Change

With ever-changing technology and regulations, comes necessary changes in solutions. What may have worked when you were managing fewer contracts won’t necessarily work with increasing client demands and regulatory variations. Manually drafting contracts is a time-consuming process and only poses more hurdles as regulations change and as your business grows. Generic contract management systems come up short when amendments and changes need to be made to a contract due to the need for back and forth communication. By automating contract management processes, you can reduce the risks of overlooking necessary guidelines and expose potential pitfalls before they pose a detriment to your organization or to your clients.

Automation is Key

In conjunction with the increasing need for articulate contracts comes the need for automation. Automation means eliminating the necessity for sifting through hundreds of agreements to find the documentation you’re looking for. Data automation and generation is a vital step in the process of capturing and delivering business intelligence and reporting efficiently and accurately. With Exari’s Financial Services Solution, you are able to:

  • Accurately map contract data
  • Streamline on boarding processes
  • Deliver granular contractual data
  • Quickly analyze and report on data
  • Accurately manage the entire lifecycle of an agreement

Adopting Automated Solutions

By leveraging the power of Exari’s technology, your company will reduce risk, save time and money, and improve business management. Exari designed it's investment solution with one goal in mind: to cut down the busy work and allow you to grow relationships for increased business efficiency. Click here to download our Financial Services Solution eBook.

mary

Mary Curtin is Exari's Marketing Specialist.