Risks are an inherent part of business operations. If not managed proactively, they can have a devastating impact on business continuity, brand reputation, financial loss, cash flows, or/and loss of customer trust. Often, risk originates during the process of onboarding new customers or suppliers and entering into contracts that do not fully account for the business and regulatory environments involved. Companies with manual contract management processes lack the visibility necessary to proactively identify and manage contract risk on an ongoing basis.
Built on the Icertis Contract Intelligence (ICI) platform, the ICI Risk Management app brings a paradigm shift in the management of business risks. The app offers a process-oriented, organization-wide solution to stay on top of all potential risks that a business faces – whether they emanate from the potential insolvency of a counter-party, payment default by a customer, supply disruption due to a pandemic or natural disaster, logistics blockades due to localized conflicts, or other market turbulence.