In today's business world, companies rarely go alone. They increasingly rely on outsourcing, licensing, alliances and other business partnerships to meet their objectives. These complex relationships are governed by financial and legal agreements that are often poorly monitored. Lack of controls around these relationships creates risks, either reporting or operational in nature, and can lead to brand or reputation damage and the loss of significant revenue through uncollected royalties, misreported claims, and inadequate inventory controls.
A well-conceived Contract Risk and Compliance (CRC) programme can help companies better identify and mitigate the risks, while enhancing the benefits of business arrangements. CRC is a risk management service that can help companies significantly boost their bottom line; mitigate risk; improve operations, processes and controls; and strengthen business relationships.