March 15, 2019
“Brexit” has been all over the news recently. If you aren’t up to speed or you haven’t been following closely, the deadline for Britain to leave the EU was March 29th, though the UK government has recently voted to delay departure. The UK could still “crash out” of the EU, ...
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March 11, 2019
Almost 20 years ago, I attended a presentation by the then-GC of General Electric. He asked the audience a question that has stayed with me. We were all asked to introduce ourselves and explain what business unit of GE we worked for. One by one we spoke about the business ...
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With something as critical contracts, companies need to know they can trust their contract management solution provider.
February 20, 2019
In a previous blog, I noted that the GCs I meet generally fall into three categories of tech adoption: those that have adopted very little technology, those who are in the process of implementing digital solutions, and those who are demanding the next generation of technology like AI and blockchain. ...
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November 15, 2018
Ensuring contracts perform to their full potential requires all parties deliver on their promises. Yet identifying and extracting contract obligations at scale via manual contract management processes can be difficult if not impossible for large enterprises. The repercussions of poor obligation management are not abstract. A McKinsey & Company study ...
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Without a system to properly track contract obligations at scale, large businesses run the risk of damaged customer relationships & poor commercial performance.
September 3, 2018
In my previous post, I related a story from a colleague who missed significant costs savings because of his inability to search his contracts, and how a central repository of digital contracts could have solved the problem. Today, I want to build on my last post and discuss how risks ...
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Learn how contract management systems are used to protect companies from financial and reputational damage from contract obligations.
July 15, 2018
Preventing reputational and brand damage caused by poor supplier practices should be first on the executive agenda, according to Pierre-Francois Thaler, co-founder and co-CEO of EcoVadis. “Our world is more connected and social than ever. Today’s environment puts a laser focus on not just your own actions, but on the ...
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Let Icertis help you reduce your supply chain risk with better contract management. Contact us to learn about what we can do for you!
April 9, 2018
As global supply chains become more complex, ensuring that contractual commitments around sustainability and ethical practices are met at each stage of the supply chain has become extremely challenging. Along with this increased supply-chain complexity, the economic and reputational cost of a lapse in compliance is increasing as well. Companies ...
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The Icertis Contract Management platform can help your team increase sales velocity through improved workflow visibility, CRM integration and other provisions.
March 7, 2018
In 2017, 45 new Foreign Corrupt Practices Act-related investigations were publicly disclosed, according to a tally just published by FCPA Blog, which monitors enforcement of the U.S. law. If that sounds like a lot, that’s because it is: The investigations made for the most active year for new FCPA-related investigations ...
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Insight into contracts can help prevent Foreign Corrupt Practices Act missteps. To learn how Icertis can help your enterprise control risk, contact us today!
February 15, 2018
Enforcement of the European Union’s sweeping privacy law, the General Data Protection Regulation (GDPR) begins May 25. Unfortunately, many companies remain unprepared. Gartner estimates that 50 percent of companies affected by GDPR will not be in full compliance with its requirements on the date of implementation. Organizations need to move quickly ...
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Many businesses are not prepared for GDPR, the EU's sweeping data privacy law. Icertis offers contract management that can help you be in compliance.
January 30, 2018
As anyone who has a banking app on their phone can tell you, the digital transformation is well under way in the financial industry. Breakthroughs in financial technology have made it possible for bank customers to deposit a check, apply for loans, and transfer funds with little more than a ...
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Read about coming changes like blockchain tech & smart contracts for contract management in 2018. The ICM platform equips businesses to keep up with innovations.
December 5, 2017
The financial services industry today faces unprecedented regulatory scrutiny. With the heavy fines and bad PR that come with findings of non-compliance, following strict standards is not simply a goal for banks, but a core requirement. Contracts, which form the foundation of a bank’s relationship with customers, employees, and vendors, ...
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If banks aren't asking these compliance questions, they may be overlooking risks lurking in their contracts. Read these & then complete a demo today!
August 15, 2017
A recent survey from EY revealed that many companies are facing difficulties with their ASC 606/IFRS 15 compliance programs. According to the report, 71% of CFOs say their revenue recognition programs are not yet complete and 45% are having difficulties implementing or upgrading to a new system and may miss ...
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New ASC 606/IFRS 15 rules makes driving compliance with contract lifecycle management even more critical. Choose Icertis for effective contract management.
May 15, 2017
Today we announced that Wipro has chosen the Icertis Contract Management (ICM) platform to accelerate the contract creation process and better manage risk. A key reason they selected Icertis was our ability to streamline back-to-back contracting. Back-to-back contracting involves linking the terms and obligations in your customer contracts with the ...
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Historically back-to-back contracting has been hard to manage, but the Icertis platform makes the process simple and protects the entire value chain.
April 28, 2017
Contracts with tech service providers fail to adequately address hacking and system recovery risks. The FDIC's Office of Inspector General released a report earlier this year that found major gaps in how financial institutions (FI) are addressing business continuity issues, including cybersecurity, in their contracts with technology service providers (TSPs). ...
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The FDIC report found gaps in how financial institutions are addressing business continuity issues in their contracts, leading to cybersecurity risks.
March 27, 2017
Is Your Contract Management System Helping You to Get Ready? According to the Chartered Institute of Procurement & Supply’s Risk Index, supply chain risk is near an all-time high. The index continued its worsening trend in Q4 according to the report’s analysts. Forces of deglobalisation are threatening supply chains in ...
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According to the Chartered Institute of Procurement & Supply’s Risk Index, supply chain risk is near an all-time high. The index continued its worsening trend in Q4.
September 13, 2016
In May 2014, the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) released new guidelines for recognizing revenue in contracts with customers. It signifies the biggest accounting standard change in the last decade and will be effective for annual reporting periods beginning on or after December ...
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The new guidelines for recognizing revenue make now a great time to invest in a contract lifecycle management platform like ICM to tighten contract processes.