If contracts are at the center of commerce and business relationships, then integrated data is at the center of those enterprise contracts. You’ve likely heard variations of the phrase “That contract isn’t worth the paper it’s written on.” In the same vein, a contract is only as good as its contract data.
Four advantages of a cloud platform with a single source of truth.
In a recent webinar, Andrew Bartels of Forrester and Julien Nadaud, Determine’s Chief Product Officer, explored in detail the issues, challenges, benefits and hype surrounding Artificial Intelligence (AI). Whether you’re talking about machine learning, natural language processing, robotic process automation, expert system decision management or any other aspect, the goal is the same: harvesting data intelligence. The only way to gain true data intelligence is through seamless data integration.
March is what we used to call in Vermont one of the “shoulder seasons.” That is, it can’t decide whether to focus on winter or spring so it just throws curve balls at you all day. Luckily for us, as we cover in this March DetermiNews, Determine has incredible customers for us to focus on regardless of what the weather is doing. There are many pathways to achieving customer success; we’re success agnostic – whatever works for them works for us.
Financial Services (FinServ) organizations – banks, insurance companies, wealth management firm, wirehouses – are constantly trying to find a balance between regulatory mandates and expectations, and operational efficiency. Massive supplier data breaches seem like they have become an almost regular occurrence (when they’re reported), customer privacy and data laws are becoming more stringent (GDPR), and predatory behavior by suppliers and vendors is an ongoing issue. Certainly, the porous nature of globalization isn’t making things any easier. With all that to contend with, it’s critical to remember that you can pin the blame for risk on third parties, not the responsibility for it.
You don’t have to be a corporate general counsel to know that managing contracts can be complicated and time consuming. While almost every contract starts with a request, and ends (hopefully) with renewal, there’s a lot that needs to go on — and sometimes doesn’t — in between. That’s where an integrated and automated contract management process comes in.
Our recent webinar with IACCM, Contract Management – Beyond the Expected, raised a lot of interesting and varied points about the need for contract lifecycle management, and the potential complexity involved. Especially around data visibility – or lack of it, what Sean Delaney, VP of Sales at Determine, called “data disaggregation.” Which is a fancy-pants way of saying your data is a hot mess.