Key Challenges in Obligation Management

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To gain maximum from the contracts, it is imperative to manage these contractual obligations well. Without a proper contract obligation system in place, it is hard to ascertain whether a business deal is working as per the terms and conditions or if there is a breach of contract. Important milestones of delivery, payment, and more may easily get missed. Few contracts contain penalty clauses that are to be enforced whenever specific obligations are not met by a contracting party. Not tracking & non-compliance to these contract obligations can lead to missed opportunities and may translate into heavy financial losses for an organization. Managing these promises in the form of obligations, commitments, SLAs, and entitlements enshrined in contract clauses and terms have three key challenges.

3 Key Challenges in
Obligation Management
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Delivering The Future of Work

2
What is Contractual Obligations?
• Contractual obligations, simply put, are the legal , financial & operational commitments that the signing
parties have agreed to fulfill.
For example, a sales contract includes obligations of payment, delivery, quality of goods, etc.

Key Enterprise Challenges to Obligations Management
© Aavenir All rights reserved. 3
Time - Consuming
Identifying obligations manually is a
time consuming and tedious task
Here are 11 new
contracts that we signed
last week. Could you read
and list down obligations
by tomorrow !?!
Umm!! I think
I’ll need more time.
Probably a month ......
Sr. Contract Manager
Contract Intern
● Keeping check on the huge number of
obligations from multiple contract repositories
● No configuration for alerts & reminders in
these contracts
● Manual updation of data for contract
milestones & penalty clauses
● Difficulty in tracking data which is laboriously
entered
CHALLENGE 1

Key Enterprise Challenges to Obligations Management
© Aavenir All rights reserved. 4
Lack of Ownership
No standard process to
assign obligation fulfilment tasks
Our client ACME is
asking weather we have
verified antecedents of
staff ? Did you do that?
Did I suppose to do
that !?!
VP of Services
Project Manager
● Lack of clarity regarding the ownership of
duties for specific agreements
● Issues in detecting accountability &
delegation of these duties
● Errors in manual process
● Scalability problems to proactively surface
obligations
CHALLENGE 2

Key Enterprise Challenges to Obligations Management
© Aavenir All rights reserved. 5
CFO
Lack of Visibility
No easy way to report obligation status
Can you to send me a
report on how we are
doing on all our
obligations across all
projects ?
Sure! I shall find data
and summarise it by the
end of next week.
VP of Service Delivery
● Difficulty to observe actual & target value
comparison
● Issues in locating data which is spread across
multiple disparate systems such as ERP, CRM,
FMI & HRM
● Lack of insight into obligation performance
● Lack of cross-function visibility hampering
inter-departmental performance
CHALLENGE 3

© Aavenir All rights reserved. 6
Obligation Auto-Discovery
Assignment
Fulfilment
Monitoring
Contract Drafting
Negotiation
Redline Tracking
Document Versioning
Reviews, & Approvals
Electronic Signature
Centralized On-Cloud Repository
Contracts
NDAs
Policies
Legal
Documents
How to solve these challenges ?
CONTRACT LIFECYCLE
MANAGEMENT
OBLIGATION
MANAGEMENT
Combining Contract & Obligation Management

Benefits of Obligation Management
© Aavenir All rights reserved. 7
Eliminate Heavy Financial Losses
• Reduce Revenue leakages
• Reduce changes of overpricing or
overpayments
• Dispute resolution and litigation support
process
Realize Increased Contract Value
• Identify opportunities for time or cost
savings
• Re-evaluate the non-performing terms
and rates
• Enhance contract language to be more
beneficial
Improve Customer Relationship
• Meet SLA's and service deliveries
• Comply to agreed pricing discounts
Monitor Vendor Performance
• Measure vendor’s performance on SLAs
/ KPIs
• Define actions to ensure vendor is
complying all obligations

© Aavenir All rights reserved. 8
Get Started to Manage Obligations
Checklist for
Obligation Management
Request a Demo
Want to see Aavenir Obligationflow Live-In-Action ?
RFP Template for
Obligation Management

Onward and Upwards
with Aavenir!
Thank You !
© Aavenir All rights reserved. 9
www.aavenir.com
linkedin.com/company/aavenirinfo
contact@aavenir.com
twitter.com/AavenirInfo

As per the study conducted by McKinsey & Company, the estimated leakage due to unfulfilled obligations is around 3-4% in large enterprises. For an enterprise with $5 billion in annual spend, that adds up to $150 million or more a year. In this SlideShare, you'll learn how to properly manage your contract obligations. To know more visit - https://aavenir.com/contractual-obligations-fulfillment-compliance-monitoring-management-software/

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Science gateways allow science and engineering communities to access shared data, software, computing services, and instruments. Science gateways have gained a lot of traction in the last twenty years, as evidenced by projects such as the Science Gateways Community Institute (SGCI) and the Center of Excellence on Science Gateways (SGX3) in the US, The Australian Research Data Commons (ARDC) and its platforms in Australia, and the projects around Virtual Research Environments in Europe. A few mature frameworks have evolved with their different strengths and foci and have been taken up by a larger community such as the Globus Data Portal, Hubzero, Tapis, and Galaxy. However, even when gateways are built on successful frameworks, they continue to face the challenges of ongoing maintenance costs and how to meet the ever-expanding needs of the community they serve with enhanced features. It is not uncommon that gateways with compelling use cases are nonetheless unable to get past the prototype phase and become a full production service, or if they do, they don't survive more than a couple of years. While there is no guaranteed pathway to success, it seems likely that for any gateway there is a need for a strong community and/or solid funding streams to create and sustain its success. With over twenty years of examples to draw from, this presentation goes into detail for ten factors common to successful and enduring gateways that effectively serve as best practices for any new or developing gateway.

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How to Position Your Globus Data Portal for Success Ten Good Practices

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Key Challenges in Obligation Management

2. 2 What is Contractual Obligations? • Contractual obligations, simply put, are the legal , financial & operational commitments that the signing parties have agreed to fulfill. For example, a sales contract includes obligations of payment, delivery, quality of goods, etc.

3. Key Enterprise Challenges to Obligations Management © Aavenir All rights reserved. 3 Time - Consuming Identifying obligations manually is a time consuming and tedious task Here are 11 new contracts that we signed last week. Could you read and list down obligations by tomorrow !?! Umm!! I think I’ll need more time. Probably a month ...... Sr. Contract Manager Contract Intern ● Keeping check on the huge number of obligations from multiple contract repositories ● No configuration for alerts & reminders in these contracts ● Manual updation of data for contract milestones & penalty clauses ● Difficulty in tracking data which is laboriously entered CHALLENGE 1

4. Key Enterprise Challenges to Obligations Management © Aavenir All rights reserved. 4 Lack of Ownership No standard process to assign obligation fulfilment tasks Our client ACME is asking weather we have verified antecedents of staff ? Did you do that? Did I suppose to do that !?! VP of Services Project Manager ● Lack of clarity regarding the ownership of duties for specific agreements ● Issues in detecting accountability & delegation of these duties ● Errors in manual process ● Scalability problems to proactively surface obligations CHALLENGE 2

5. Key Enterprise Challenges to Obligations Management © Aavenir All rights reserved. 5 CFO Lack of Visibility No easy way to report obligation status Can you to send me a report on how we are doing on all our obligations across all projects ? Sure! I shall find data and summarise it by the end of next week. VP of Service Delivery ● Difficulty to observe actual & target value comparison ● Issues in locating data which is spread across multiple disparate systems such as ERP, CRM, FMI & HRM ● Lack of insight into obligation performance ● Lack of cross-function visibility hampering inter-departmental performance CHALLENGE 3

6. © Aavenir All rights reserved. 6 Obligation Auto-Discovery Assignment Fulfilment Monitoring Contract Drafting Negotiation Redline Tracking Document Versioning Reviews, & Approvals Electronic Signature Centralized On-Cloud Repository Contracts NDAs Policies Legal Documents How to solve these challenges ? CONTRACT LIFECYCLE MANAGEMENT OBLIGATION MANAGEMENT Combining Contract & Obligation Management

7. Benefits of Obligation Management © Aavenir All rights reserved. 7 Eliminate Heavy Financial Losses • Reduce Revenue leakages • Reduce changes of overpricing or overpayments • Dispute resolution and litigation support process Realize Increased Contract Value • Identify opportunities for time or cost savings • Re-evaluate the non-performing terms and rates • Enhance contract language to be more beneficial Improve Customer Relationship • Meet SLA's and service deliveries • Comply to agreed pricing discounts Monitor Vendor Performance • Measure vendor’s performance on SLAs / KPIs • Define actions to ensure vendor is complying all obligations

8. © Aavenir All rights reserved. 8 Get Started to Manage Obligations Checklist for Obligation Management Request a Demo Want to see Aavenir Obligationflow Live-In-Action ? RFP Template for Obligation Management

Key Challenges in Obligation Management

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