GDPR Readiness Infographic
There is a significant risk that your contracts may be GDPR compliant but not GDPR incident ready.
This infographic profiles a typical Fortune 500 company’s contract discovery and analysis in preparation for GDPR. Highlighting the insights and information that you will need to ensure your contracts are both compliant and incident ready.
GDPR INSIGHT™: GDPR Readiness & Compliance
The General Data Protection Regulation (GDPR), passed by the EU Parliament in April 2016 and effective May 2018, is the most significant development in data privacy and protection that Europe has seen over the past twenty years. Businesses subject to the GDPR face an unprecedented level of regulatory requirements, and potential fines, both for themselves and for their third-party contractors.
Global procurement leaders have increasingly seen their responsibilities shift from traditional vendor selection to today’s proactive management of third-party risks and compliance, both from a diligence and a contractual perspective. The same sourcing leaders have been tasked with gathering and reporting on key vendor-management metrics, many of the details of which reside in one or more contractual documents governing the vendor relationship.
QFC Insight™: Resolution Preparedness
Large financial institutions face increasing pressure to evaluate and disseminate in real time key data points associated with their qualified financial contracts (QFCs). SR 14-1 requires daily recording of critical information across a variety of document types and transactions, as well as across a range of financial and risk-related topics.
Emptoris to SAP: There is a better way
If you are a user of IBM’s Emptoris Contract Lifecycle Management (CLM) solution, you know what’s coming. IBM is sunsetting the Emptoris platform and all users are now encouraged to migrate to SAP’s Ariba CLM system.
Seal Version 5: Putting Power Into the Hands of Users
Seal Software’s Version 5 has one major design objective, putting the power of Seal in the hands of business users, particularly in the areas of usability and system optimization. To increase usability and value, Seal has created a Microsoft Word “add in” so that users can interface with contracts, updating, revising and repapering them in the interface they know best – MS Word.
QFC Reporting: The Clock is Ticking
In January of 2015, a new mandate was published which will force major financial institutions to adopt an entirely new approach to managing their QFCs, or qualified financial contracts and related agreements. It stipulates extensive reporting on the data held within QFCs, expanding the type of information and the speed in which it is needed.
Brexit and Your Business
The Brexit clock is ticking for all organizations to determine how Brexit effects them. It is clear that for all UK and European based-businesses, Brexit will have a dramatic impact on business operations. For any North American or Asian organizaBon who does business internationally, there is a high likelihood that Brexit will impact them as well.
IFRS 16: Tackling Contract Challenges
IFRS 16 requires a clear understanding of all your lease agreements. Seal Discovery and Analytics can help companies shorten the time and lower the cost for IFRS 16 preparedness.
Procurement and Sourcing
Effective procurement and sourcing can have a dramatic and positive effect on any organization. By driving spend under management, managing supplier performance, and ensuring your contracts work for you, businesses benefit from far tighter controls.
Managing payment terms is just one example where leveraging a key contractual term benefits business, conserving cash: the lifeblood of any business. There are many other terms that are far less visible and rarely tracked that can have an equally large an impact to the business.
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