Speaking about economic downturns, Warren Buffett famously observed: “Only when the tide goes out do you discover who's been swimming naked.” As global recession emerges as a real risk, companies are shifting focus to ensuring their fundamentals are sound.
Nothing is more fundamental than contracts. Contracts are the foundation of commerce, defining the rules of business and, ultimately, every dollar in and out of the organization.
In fast-paced business environments, deviation from these rules—in the form of unfulfilled entitlements, purchase price discrepancies, regulatory noncompliance or missed deliveries—are realities of business and pose a serious threat at a time when every dollar counts.
In the following pages, we will discuss how real companies have leveraged contract intelligence software to find savings in procurement and new revenue in sales to protect their bottom line and be more resilient in the face of whatever comes next.