Risk & Compliance

eContracts has built-in governance and policy enforcement features that allow for standardization, automation and consistency across your contract repositories, specific contract areas or contract types. Standardizing the way your contracts are pre-approved, drafted, authorized, shared and administered ensures that organizational contract processes are in-line with organizational best practices and values.

Additional benefits include quick and efficient change management, better visibility, encourages user policy adherence, reduce administration time and resources while meeting legal and regulatory requirements. Audit reports, missing information and user activity reports allows for quick corrective actions to be put in place.

Risk & Compliance Features

Authorities Matrix Approval

Configure your organization’s authorities matrix by defining system boundaries, management lines of responsibility, and accountability. It also ensures that right contracts are reviewed and signed off by right people at right time during cross-departmental multi-party projects.

Contract Compliance Checks

Achieve complete compliance through our compliance workflows which enforces a stringent review process in order to identify missing metadata, approvers, documents, disjointed operating strategies, organizational silos, wasted resources, information and lack of data integrity or milestones.

Vendor & Third Party Management

Analyze extremely high volumes of data involving multiple parties across various regions and business units and identify, capture, assign, and track completion of tasks to implement preventive, and corrective controls to keep risks and compliance violations in check.

Conditional Risk Labelling

Proactively manage risks through our conditional risk labeling feature which flags risks based on pre-defined risk parameters such as contract value, counterparty type, and clauses by analyzing qualitative and quantitative processes to reduce the risk to an acceptable level.

Contract Archiving Policy

Customize your retention policies to reduce litigation, reduce storage costs, mitigate risks from a data breach and exercise full control on records management. It helps you to enforce standard policies such as contract deletion after 3 years of archiving and accuracy of record retrieval.

Audit Trail

Identify unauthorized alteration or deletion of files, changes or deletion of data and processes/procedures not being followed. This feature tracks and provides a report on each and every activity that has occurred throughout a contract’s lifecycle for any time audit review with complete history.

Take a tour of our Contract Risk & Compliance solutions!

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