Obligations Compliance Tracking - Unlock True Value of Contracts
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The document discusses the importance of contract obligation compliance tracking to manage regulatory and contractual commitments and reduce risks. It highlights challenges in identifying obligations and proposes an AI-enabled solution, Aavenir ObligationFlow, which streamlines the compliance process, enhances visibility, and automates obligation management. Key benefits include faster obligation identification, significant cost savings, and improved compliance rates.
Obligations Compliance Tracking - Unlock True Value of Contracts
- 1. Obligations Compliance Tracking Unlock the True Value of Contracts
- 2. What is Contract Obligation Compliance? Stated requirements and bound commitments Regulatory & contractual directives Duties of parties involved in contractual agreements Exhaustive, complex, and inconvenient to manage The forgotten risk management tool
- 3. Executing actions to meet regulatory and operational obligations Continuous contracts obligation status assessment and reporting Reduce risks of contractual obligations non-compliance Goals of Contractual Obligation Compliance Tracking
- 4. “According to an IACCM study, only 29% of organizations regularly collect data on compliance with standards/scorecards by other parts of the business or trading partners.”
- 5. Challenges in Identifying Contract Obligations Manual identification / extraction of obligations Highly fragmented contract data No real-time or complete visibility Error-prone and Expensive No clear ownership for obligation fulfillment
- 6. Solution - AI-enabled Automated Obligation Compliance Tracking and Management Aavenir Obligationflow - AI-enabled contractual obligation compliance management system can facilitate: ● 360-degree visibility into enterprise-wide contractual obligations ● Auto-discover key contracts obligations with AI ● Collaborate with the relevant stakeholder for fulfilment using digital workflow ● Monitor the compliance status via Obligationflow dashboard ● Import all active contracts from any CLM system
- 7. Benefits: AI-enabled Obligation Extraction + ServiceNow's Digital Workflow Platform Aavenir Obligationflow enables businesses to bootstrap the complicated process of discovering and managing obligations using artificial intelligence. Using Aavenir solution, business achieve: ● 70% faster obligation identification cycle time ● 35% cost savings with centralized obligations fulfilment approach ● 98% on-time obligation fulfilment ● Significantly increase compliance and reduce business risks ● Automate the obligation fulfillment process through a workflow engine instead of email/Excel ● Enables the team to leverage insights gained for better outcomes in future contract negotiations and renewals
- 8. Free Demo Session Get a live demo of Aavenir Source to Pay solutions to know how Aavenir can address your enterprise's unique business challenges and goals. We provide live demonstration for following Aavenir S2P solutions: ● Contractflow - Contract Lifecycle Management on ServiceNow ● RFPflow - Request for Proposal Management on serviceNow ● Invoiceflow - Account Payable Automation on ServiceNow ● Obligationflow - Contractual Compliance Management on ServiceNow Visit: https://aavenir.com/demo/
- 9. Get Free Resources Watch Webinar Automate Sourcing using RFx Calculate ROI of CLM Solution Test Drive Contractflow Contract Analytics with Visual Dashboards E-book - Digitize Strategic Sourcing Calculate ROI Free Demo Read Blog Explore Now
- 10. Delivering Future of Work www.aavenir.com linkedin.com/company/aavenirinfo contact@aavenir.com twitter.com/AavenirInfo