Tackle Contract Management Challenges with Selectica Contract Discovery Solution (1)

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Agile Contract Governance The major challenges
how to address them
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If you think compliance is expensive, try
non-compliance.

- Paul McNulty, former U.S. Deputy Attorney
General
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Contracts an invisible risk
Did you know?
The dominant category of litigation is contracts
2012 gt Of all pending litigations , 44 in US
57 in UK involved contracts
2010-2012 gt 54 of companies spend more than a
million dollars on contract litigation
2011-2012 gt The number of contract lawsuits
jumped from 83 to 86 in US, 48 to 86 in UK
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Enterprises face contract related challenges
40 increase in new contract data
Difficult to separate relevant data from
irrelevant
Contract Management Challenges
2x increase in new data every 2 years
90 of that contract related data is unstructured
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What do organizations need?
Discover contractual documents
Search and take action on contractual assets
Search a rendition of the contractual image
Automatically extract key metadata
Surface contractual information
Consolidate contractual data in a single
repository to reduce time and costs
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Discovered classified data to address the
challenges 1. Policy Driven Contract Information
Search across their contract corpus
Identify and extract from specific contract
documents
Review discovered contracts
Save time and mitigate risk
Add contractual paragraphs sections
Define policy groups
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Discovered classified data to address the
challenges 2. Non-Standard Clause Detection
Selectica Contract Discovery Analytics
Challenges

• Discovering negotiated clauses
• Discovering clauses that differ from the approved
  corporate template
• Learning what 3rd party clauses are, to review
  and approve them

• Detects group and presents any
• non-standard clauses for review
• Reduces review and approval time

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Discovered classified data to address the
challenges 3. Proactive Contract Template
Management
Selectica Contract Discovery Analytics
Challenges

• Proliferation of contract templates
• Lack of control associated with contract
  templates
• No quick recognition and classification of items

• Agile contract governance
• Contractual information to make informed
  decisions on complex scenarios

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Summary
Contractual information is critical to the
organization
Need for proactive solutions gt intuitively and
dynamically ask questions of the contract estate
Resultant data helps to make informed decisions gt
reduces time and unnecessary costs
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• To read the complete white paper on Agile
  Contract Governance The Major Challenges How
  to Address Them

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