If your organisation has self-reporting contractual agreements that are not monitored or reviewed, the answer is likely yes. 90% of contract examinations identify misreporting, with losses running from thousands to millions. Whether intentional or not, if periodic inspections are not performed as part of a proactive contract compliance and software licensing management program, counterparties may fail to meet their contractual obligations.
The good news is, these losses can be prevented through effective contracting, and the monitoring and auditing of processes, controls and business partners.
Strategic partnerships hold immense potential - but especially when contractual obligations are followed. Negotiating the agreements and ensuring compliance take time and resources, but the effort pays off at the end when risk is mitigated.
We help you ensure that your vendors and channel partners comply with contractual obligations through effective contract management, which involves performing a portfolio risk assessment, enhancing controls, reviewing compliance, and monitoring contract enforcement. This helps to prevent revenue loss from license agreements, misreporting of inventory and sales data, and miscalculation of rebates as well as reputational damages from working with questionable or fraudulent parties.
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