Inefficient approval workflows, unauthorized access controls, missed obligations and deadlines, compliance failures, and ineffective reporting can result in severe consequences causing steady erosion of profitability. According to research conducted by IACCM (International Association for Contract & Commercial Management), the average company loses about 10% of its annual revenue due to poor contract management practices.

It is vital to have a clear understanding of your contractual rights and obligations. Migrating and maintaining contracts in a single centralized repository supplemented with metadata extraction provides deeper visibility into contract terms, milestones, deadlines, etc. Download this infographic to understand the steps you should follow to analyze the hidden risks and confirm your contracts are up to date with the latest regulations.