Exari Delivers Contract Risk Playbook for Senior Executives and Board Directors
Exari, a provider of cloud-based contract lifecycle management solutions, has announced the release of its Contract Risk Playbook: Risks Hiding in Plain View, an advanced guide for Corporate Boards and Senior Executives.
Contract risk is a board level issue that has been difficult to quantify, Exari says on its website. Understanding contract risk requires a comprehensive business plan to capture, organize, analyze and improve the contract management process across the entire enterprise. By understanding the rights and obligations contained in contract assets, board directors and executives can better determine the underlying risk profile of their firm. As a result, they can take definitive action to reduce risk and improve long-term sustainability.
The Contract Risk Playbook breaks down the risks for Boards and Executives who lack control over monitoring their contracts. The playbook gives step by step guidance on how to assess contractual risk from an enterprise level, take action and move forward proactively.
Exari says firms often lack the right tools and processes for managing contractual relationships, which can result in major risks, such as regulatory compliance and expensive outside legal costs. Risk exposures need to be managed proactively at an enterprise level in order to reduce risk and improve operational excellence before a crisis emerges. Most companies store contracts electronically but are unable to understand the relationship between contract terms across all their contracts.
