May 03, 2016
Boston, MA – May 3, 2016 – Exari, the leading provider of cloud-based contract lifecycle management solutions, today announced the release of its Contract Risk Playbook: Risks Hiding in Plain View, an advanced guide for Corporate Boards and Senior Executives.
Contract risk is a board level issue that has been difficult to quantify. Understanding contract risk requires a comprehensive business plan to capture, organize, analyze and improve the contract management process across the entire enterprise. By understanding the rights and obligations contained in contract assets, board directors and executives can better determine the underlying risk profile of their firm. As a result, they can take definitive action to reduce risk and improve long-term sustainability.
The Contract Risk Playbook breaks down the risks for Boards and Executives who lack control over monitoring their contracts. The playbook gives step by step guidance on how to assess contractual risk from an enterprise level, take action and move forward proactively.
“The challenge today is that risk is a real time problem,” said Bill Hewitt, CEO of Exari. “Yet many companies do not have real time access to relevant contract data; it is a matter of how fast they can move to deal with these issues before they harm their business.”
Firms often lack the right tools and processes for managing contractual relationships, which can result in major risks, such as regulatory compliance and expensive outside legal costs. Risk exposures need to be managed proactively at an enterprise level in order to reduce risk and improve operational excellence before a crisis emerges. Most companies store contracts electronically but are unable to understand the relationship between contract terms across all their contracts.
Exari is the only contract management software company to deliver a Universal Contract Model™ (UCM) that captures not only contracts but the key data elements contained within every agreement. By implementing an enterprise-wide contract model, firms can achieve 100% Contract Certainty™, gain complete contract visibility and reduce risks within their most complex agreements, such as ISDA’s and side letters.
“Achieving 100% Contract Certainty isn’t a technology problem – it’s a paradigm shift,” said Hewitt. “It requires transforming contracts from documents into data and transparently providing the right operational and risk professionals access to the right information at the right time.”
For more information on how you can reduce your risk and begin to take action, check out the Exari Contract Risk Playbook: Risks Hiding in Plain View. Or, visit us online at www.exari.com.
Exari is the market-leading Enterprise Contract Management platform for delivering 100% Contract Certainty™. Hundreds of thousands of users across 80 countries use Exari for document assembly, strategic sourcing, contract creation, negotiation, collaboration and contract analytics. 5 of the top 15 banks, 4 of the top insurance brokers, and numerous market-leading energy companies use Exari.
Exari is headquartered in Boston, Massachusetts with offices in Oslo and Bergen, Norway; London, UK; Munich, Germany; and Melbourne, Australia. Learn more at www.Exari.com.