Risk management has many dimensions for any enterprise. Significant risk can arise from business activity, partners, customers, vendors or regulatory environments.
While the sources of risk are many, all risk is defined, governed or affected by contracts. From bids to employee offer letters, contracts define the boundaries, frontiers and risk appetite of an organization. Therefore, organizations need to understand contracts not just as individual legal repositories of agreed terms, but as a store of potential risks that an organization may be knowingly or unknowingly exposed to.
In this eBook, we demonstrate how Enterprise Contract Management can help companies model risk based on contracts, and enable decision makers to create a comprehensive, informed risk management strategy.