Global companies are operating in an increasingly competitive, volatile and risky environment. As a result, ensuring strong corporate governance, enforcing compliance to growing regulation and managing risk have become even more critical, complex and challenging.
One core function that influences and even dictates success across all your core areas of responsibility is contract management. Contracts, of course, are the foundation of most key business relationships and impact legal, operational and financial performance. The average Fortune 1000 company maintains 20,000 to 40,000 active contracts—and up to 52% of these contracts are non-compliant to legal or corporate standards, according to research by the Aberdeen Group.
IBM® Emptoris® Strategic Supply Management solutions give companies greater visibility into spending, contracts and vendors and suppliers—and enable improved compliance enforcement and risk mitigation.
- Mitigate Risk and Enforce Compliance – With IBM® Emptoris® Contract Management, you not only can monitor risk, but proactively mitigate risk. Contract libraries and contract creation wizards allow the legal department to control contracts while still empowering contract and business unit managers. By integrating contract management with financial and operational systems, companies can ensure that contract terms are enforced in those systems.
- Increase Legal Productivity – With ever increasing pressure on legal budgets, the contract management solution enables automation and greater efficiency in the creation, negotiation and approval of contracts, freeing up your legal department to focus on the most strategic matters.
- Gain Contract Lifecycle Visibility – Relying on paper contracts and spreadsheets is simply inefficient and risky. With Emptoris Contract Management every contract and class of contract is centralized, accessible and searchable – allowing you to analyse, monitor and report on contracts across the global enterprise.
- Transparency and Accountability – IBM Emptoris Strategic Supply Management solutions provide significant legal, risk and compliance benefits.
- IBM® Emptoris® Sourcing provides a transparent and auditable process for selecting suppliers and vendors.
- IBM® Emptoris® Supplier Lifecycle Management provides a central solution to monitor, assess and improve supplier and vendor services and relationships, including the ability to monitor supplier risk and financial health.
- IBM® Emptoris® Services Procurement provides a single solution to manage and ensure compliance to international, federal, state and local regulations and corporate policies for all third-party service providers.
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