Contracts govern business relationships. Once executed, they often trigger important requirements that each party must adhere to—meeting service level agreements (SLAs), maintaining certifications, or simply delivering goods and services on time. If these obligations are not met, penalties can be incurred and therefore constitute risks that must be tracked and managed. What's more, these contractual obligations are frequently assumed by a much broader business user base than just contracts, compliance, and legal teams.
Luckily, contract management software systems can help all of the people within an organization manage their complex obligations and mitigate the associated risks.
In this pre-recorded 45 minute webinar, we discussed:
Why obligations matter in contracts
How obligations impact your business
The different lenses to view obligations through, from compliance
to risk to revenue
The 5 components of effective obligation management
The key events or “state changes” that trigger them
We also discussed real-life obligation and risk management opportunities, and provided a live product demonstration of how a contract management software system like Contracts 365 can help effectively manage both.
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