Remove Service Remove Sourcing Remove Third Party Contracting
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Contract Compliance Audit: Overview, Benefits & How AI is Helping

SirionLabs

For example, companies usually schedule annual or quarterly compliance audits to examine: Agreement parameters: Clauses, contractual obligations, service level agreements, payment terms, project milestones, deliverables, etc. Supplier audits can also complement third-party contract performance assessments.

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Frictionless M&As using AI-Led Contract Intelligence

SirionLabs

As a result, companies often find themselves grappling with a labor-intensive manual review process that requires significant time to identify key risk elements in contracts. In addition, the inability to compare third-party contract clauses to standard enterprise clause language and position increases risk exposure.