No, nor did we. It is surprising to discover what other unknown risks you may have hidden in your organisation. Take contracts, for example. Do you have full visibility and control over your executed commercial and procurement contracts? Are there inherent risks in your contracts that you do not have ready access to, or that your business is not managing effectively? Do you base your business plans on contracted obligations and commitments that you do not have control over?
As Andy Kyte at Gartner says, ‘contracts are the lifeblood of an organization and if you are not in control of your contracts, you are not in control of your business’.
So, what should you do about hidden or hard to find legacy contracts that are not being managed effectively? Typically, you will normally have two choices:
- Ignore the problem and leave your legacy contracts as they are (but run the risk of contracted obligations and commitments not being managed)
- Hire resources to locate, scan (if in paper format) and manually profile legacy contracts and milestone data. (For many organisations, this is too costly and too complex to consider).
Dolphin AutoCapture – the world’s first discovery engine for legacy contracts
Dolphin AutoCapture is a solution that has been designed specifically to address the issue of locating lost or hard to find legacy contracts hidden in Windows file shares and user desktops.
For many organisations, legal, procurement and commercial teams spend significant energy and resources negotiating and fine-tuning the terms and conditions of contracts, only to disguard the contract document once it has been signed and executed. An average procurement or commercial contract will contain a mixture of critical dates that need to be tracked, as well as obligations or commitments that need to be managed effectively in order to maximise the value from the business relationship.
Dolphin AutoCapture is the first solution that will:
- Discover and identify list or hidden contracts in Windows file shares and computer desktops
- Automatically extract key contract milestone data from contract documents
- Provide a management dashboard with instant visibility into contract milestones and key terms
If you are planning for your next financial year at the moment and you are formulating plans on your understanding of what you have committed to in procurement and commercial contracts, but you feel that you do not have complete control or visibility of your contracts, consider deploying Dolphin AutoCapture to provide instant visibility and control over your contracts and commitments.
For more information, visit: http://www.dolphin-software.com/autocapture.htm