Contract Risk Management
Identify and manage risk throughout the contract lifecycle. A configurable risk model helps track risks across different categories, such as financial, contractual, performance and third party. For procurement, use their contracts to examine their sourcing strategy to ensure they are not overly dependent on a single supplier.
On the sell-side, enforce “know your buyer” best practices to stay in compliance with international law. Look up and leverage internal data as well as external data, from sources such as D&B and Thomson Reuters, to determine risk scores, ensure proactive risk monitoring and increase visibility for stakeholders.