Each day across all industries, including marketing research and analytics, companies spend thousands of hours and millions of dollars negotiating deals and sweating over minute details in the terms and conditions of the final contract.
But what happens next? Too often, on both the buy and sell side, there is a drop-off in attention to the contract stipulations — as if the finish line has been crossed. But in many ways, the effort is just beginning. In concept, obligation management is simple: Proactively manage the terms of a contract over its lifetime. Execution, however, is much more difficult.
This is due to the decentralized nature of contracting and the long lengths of contracts. From an impact perspective, failure to meet these obligations can result in increased risk, missed savings, heavy fines, costly litigation, broken relationships, supply chain gaps and lost customers. The tracking and compliance of Contractual Obligations is an important part of the comprehensive ISO 27001 Information Security standard.
Join us for guidance on this important but often-overlooked task.
Time has been allotted for audience questions.