We looked closely at the compelling reasons for adopting a cloud-based legal solution in Part 1, and ways to mitigate supplier risk in Part 2. In this third and final blog in the series, you’ll discover how other organizations have made cloud solutions integral to the way they do business.
This article was first published in the ACC Docket, September 2016.
The cloud will make your legal team’s global operations more efficient. The cloud will also bring much-needed transparency to and increased collaboration with your company’s suppliers.
Introduction to SIM & CLM:
Why supplier risk isn’t just a Fortune 100
The responsibility for managing suppliers and supplier contracts has taken on a heightened level of interest and concern in recent years. Highly regulated industries including finance, healthcare and food services, are forced to re-evaluate how supplier information is collected and how contracts are managed. With fines that can be in the millions, the potential of being audited and penalized due to non-compliance is real.
CFO’s Bread and Butter: Compliance & Risk
Thanks for joining our series of posts comparing how factors such as timing and cost are seen differently by finance, procurement and legal.
Compliance and risk are no different. While procurement may see compliance and risk management as being a few rungs up their strategic maturity ladder, for finance — and legal, I might add — they are the bedrock of our existence in the organization. If a CFO isn’t focused on ensuring compliance and risk management, he or she isn’t going to be in that job for very long.