Security for Next-Generation Contract Management

Companies are being challenged to become more financially viable and sustainable as a result of the global economic and energy crisis. However, the increasing complexity of cross-organization collaborations and the need for transparency and traceability of business transactions make it difficult to achieve these goals. Advanced business analytics can help to address these challenges, but they also require organizations to share sensitive data such as contracts, master data, and transactional data. This creates a dilemma for organizations, as they must balance their need for openness with their obligations to protect data and comply with regulations. Next-generation contract management must solve this dilemma in order to achieve the transparency and traceability necessary for addressing the challenges of the current economic and energy crisis. This will require finding ways to share sensitive data without compromising privacy or compliance and to do so in a way that is financially viable and sustainable for all involved.