During unprecedented events like the on-going Covid-19 that has taken over the world, legal, compliance, finance, and sales teams got apprehensive of the risks their enterprises face. The worry is intensified when they cannot readily access detailed information about their contracts or agreements. In the absence of a proper contract management software, these documents are often locked in drawers or disparate shared folders, in their emails, or even worse – stored as scanned PDFs and image file formats.
In such a situation, finding the required clause would be a dreary, slow, and prone to mistake process. Moreover, the search might seem impossible when pressures are high, and teams are either working remotely or have been reduced.
Despite the urgency and the high stakes involved, we need to think about today, making the right decisions for the organization’s future and the far-fetched consequences of the pandemic. To prepare your organization against these and several other issues, you must be able to recognize them as soon as possible.
Download Ultria’s latest whitepaper to know more about these challenges, which you might resonate with, and how enterprises can prepare against the same with a contract lifecycle management solution:
- Understanding Revenue Resiliency
- Prioritize Customer versus Vendor Contracts
- Contract Risk Analysis
- Supply Chain Optimization
- In-depth Data Visibility
- Preparing for a Contingency Plan