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Companies lose 9% of revenue annually from poor contract management, according to the IACCM. Fifth9 and Clause have developed the Price Manager solution to address this problem.

The time to make “smart” pricing-related clauses a commercial reality has arrived. It is now a commonplace that contract management is a resource-draining responsibility for all businesses. The above figure is the leading statistic in this narrative — and rightly so. It is a staggering one that amounts to the loss of $2.5 trillion for Fortune’s 2016 Global 500 companies. Contracts are costly: there is the direct cost of managing contracts to ensure…

Healthcare providers must comply with federal and state laws that prohibit doing business with vendors that have engaged in fraud, are unlicensed, or have engaged in other illegal activities. The Social Security Act excludes these vendors from being paid by healthcare organizations and enables the imposition of $10,000 fines for each prohibited item or service furnished.

The U.S. Department of Health and Human Services Office of Inspector General recommends that exclusion checks are performed prior to contracting with a vendor and on at least a monthly basis thereafter.

However, onboarding vendors and continually checking their compliance status is a costly…

Successful companies must efficiently source and work with suppliers. Unfortunately, the process of onboarding suppliers is a costly, time-consuming process.

Companies spend numerous hours gathering required information from suppliers. Errors and inconsistencies in supplier data are a source of major inefficiencies and disruption. Indeed, incorrect supplier data is such a problem that buyers often impose penalties on suppliers for submitting incorrect data.

Onboarding is Costly

One industry estimate concluded that it can easily take nearly 400 hours to onboard a supplier, with a minimum of about forty five hours to capture supplier data and conduct verification checks. …

By Dan Selman, CTO, Clause.

#3 Decision making

Source: https://www.youtube.com/watch?v=4TAMabBlOZo

Business is more similar to rugby than you might think. No, I’m not referring to scrums, shared showers and alcohol abuse! In this series of posts I’ll use lessons from 20 years of playing and coaching rugby to make you a better CTO.

Well functioning teams are continually making decisions about what is most important, where to position team members, and weighing different risks and options.

In rugby we see this at hyperspeed; within an 80 minute game the players are collectively making thousands of decisions about…

Smart contracts have received significant attention over the past few years from many quarters, including regulators, bankers, developers, and lawyers. Often, these parties approach the concept of a “smart contract” differently, and understandably so. Some focus on technical aspects, some have seen digital agreements for a while (in financial derivatives, for example), and others focus on the new business models and processes made possible with this evolving technology.

As such, some form of level-setting is necessary to understand what is being referred to when we talk of a “smart contract” and particularly when we consider the relationship to “contracts” that…

By Dan Selman, CTO, Clause.

#2 Roles and Responsibilities

Source: https://www.springboks.rugby/articles/2019/11/04/Video-Mapimpi-try-RWC-final

Business is more similar to rugby than you might think. No, I’m not referring to scrums, shared showers and alcohol abuse! In this series of posts I’ll use lessons from 20 years of playing and coaching rugby to make you a better CTO.

In a well-functioning team every team member knows what they should do in most situations, has the requisite skills, and can excel with minimal communication. …

It’s the end of the decade! 2019 firmly established Clause as a leader in pioneering smart legal contracts. Spend a few minutes with us to recap the final year of the 2010s and the highlights of our year at Clause.

Funding and Docusign Partnership

In June, we announced a Series A fundraise from a mix of existing and new investors, led by Galaxy Digital. Included in the round was strategic investment from DocuSign®. As part of this collaboration, we announced a major milestone embedding Clause functionality within DocuSign.

Watch the demo

By Dan Selman, CTO, Clause.

#1 — Trust your Teammates

Source: https://www.rwcwomens.com/news/407839?lang=fr

Business is more similar to rugby than you might think. No, I’m not referring to scrums, communal showers and alcohol abuse! In this series of posts I will use lessons from 20+ years of playing and coaching rugby to make you a better CTO and business leader.

Rugby is a team sport. I’d say it is the best team sport, but that’s an argument for another day. In a team TRUST between teammates plays a huge role in a good overall performance. In a team where players trust each other, players have a role and…

Contracts lose much of their value and become burdensome to manage when data in a contract about parties, prices, and obligations is inaccurate — and the problem is widespread. Contracts that should have never been signed due to manual data entry mistakes cost companies tens of millions of dollars. In a recent survey by the International Association for Contract and Commercial Management, 43% of respondents admitted that verification of invoice accuracy is ad hoc and lacks systems support.

To tackle the common and costly problem of manually checking contract data and building systems support, the Clause Verify solution builds that…

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The future of legal contracting. This blog has been relocated to https://blog.clause.io/. Our Medium feed will no longer be updated.

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