Contract Analytics
Contract analytics is the process of using data and analytics to improve the effectiveness of contractual agreements. By analyzing data from past contracts, as well as current and future contract obligations, organizations can identify risk factors, optimize terms and conditions, and improve negotiation strategies.
Organizations can use contract analytics to:
– Improve visibility into the contractual landscape
– Understand spending patterns and areas of exposure
– Mitigate risk and improve compliance
– Optimize contract terms and conditions
– Improve negotiation strategies