Contracts are the DNA of a company—vital to the success and growth of every type of business. From hiring employees to closing deals, contracts are the core of building relationships and creating successful partnerships in the business world. A large part of the reason contracts are created is to ameliorate the risks that can come with making agreements. Assessing and managing that risk is crucial in assuring the best terms possible, and if managed well, contracts can offer a great deal of protection from liability and risk. From their drafting and negotiation to execution once the signatures are in place and throughout the lifecycle of a contract, there are many ways to assess the risk of an organization’s contracts. BDA can help.  

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BDA RM

The central function of incorporating Risk Management into contract lifecycle management processes is to help both parties collaborate on a deal that is beneficial and satisfactory to each side. Having a solid understanding of a deal’s parameters from all sides will help each party to better protect against risks.  BDA’s provisional Risk Management feature provides this powerful assurance.  

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Features

 

• Contract and Vendor Risk Scoring Roll-Ups

• Provisions and Obligations Risk Management & Assessments

• Configurable Dashboards

• MSA’s and Subordinate Agreements

• Contract Import & Export

• Lifecycle History

• Renewal Management

• Standard, Custom, Saved and Shared Reports

• Attachment Management

• Important Dates Management

• Vendor/Contact Relationship Management

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