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Finding Risk is No Less Important Than Recognizing It

"I want to be able to find a specific clause within all of my customer's contracts without having to invest much time doing so" noted a contract manager, I spoke to recently. "Every time I sign up a new customer I have to verify that their new contract does not create a conflict of interests with any of my other customers who operate within the same industry", he added. The problem clearly stated was that this process was taking up too much time and needed to be repeated again and again.

The cumbersome, and slow search process being used by this contract manager was obviously one of the concerns of which the conversation was born. In this specific case one of the reasons for hardship was the fact that nearly every customer contract this company entered into had a clause that was similarly worded, so the search itself took a considerable amount of time, and then the process of verifying each separate document that came up in the search results was painstaking. On this relatively simple requirement hinged the major decision of which Contract Management platform this customer would select to deploy.

I was happy to explain that the opensourceCM platform was a time proven search oriented platform that returns results in a very short time, even when running through thousands of contracts. Better yet, the platform remembers recent searches and introduces them as links in the search page side bar. This enables users to repeat a search task simply by clicking the link rather than performing the search from scratch. But even when jumping from search result to the actual clause in a contract and then pressing the back button brings you back to the search results so you don't lose track of where you were.

The opensourceCM platform supports phrase searches as well, as basic keyword. As a result, users can find anything they are looking for on the platform, even if they are not sure what it is. In this example conflicting interests represented the risk to the company, but in reality risk can be hidden almost anywhere, the trickis to recognize it, and then find it. On the opensourceCM platform many risks can be circumvented entirely by running automated searches designed to point out potential risks. These are are then translated into reports and sent to anyone within the organization. The opensourceCM interface is so easy to understand that creating these search based reports is super simple. If you aren't convinced schedule a short demo and I'll be happy to show.

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