Eliminate the Headaches of Risk and Lapsed Compliance
In privacy- and security-sensitive environments, risks must be avoided and timely resolved. Complete compliance must be documented to satisfy various federal mandates such as HIPAA and Sarbanes-Oxley, or for regulatory agencies like OSHA or FDA. Individual states also have mandated reporting and compliance requirements. In addition, data security has taken on even greater importance in this era of increasingly sophisticated hacking and data breaches.
To minimize risk and prevent lapses in compliance and security, it’s essential to keep close watch on critical regulatory requirements and reporting deadlines. Contraxx supports these functions in all types of contracts and datasets by:
- Accelerating the entire pre-signature process while complying to regulations
- Minimizing risk of missing any key contracts (e.g. renewals or deliveries) through email alerts and calculated formulas
- Minimizing legal exposure with authoring and modeling tools
- Accessing actual contract language of all contracts immediately through full-text search
- Ensuring information goes only to authorized users, ensuring overall secured access and privacy compliance
- Employing an open, standard-based model through protocols such as XML, SQL, and web services.
Secure User-Defined Access
The Contraxx suite provides a business-useful contract information repository, accessible to both local and off-site employees through LAN, WAN, or the Internet. Contract information can be shared through an enterprise, using security flags to ensure that appropriate access is granted according to the type of business user.
Don't Just Take Our Word for it
“The system also includes a library of contract boilerplates, to ensure that the most current, approved contract language is always used, and that negotiations follow pre-approved guidelines. In addition, the Bank’s system includes the capability to conduct periodic vendor risk assessments and vendor risk rankings; this component of the system interfaces with the Bank’s externally provided research data feed for current and accurate vendor information."
- Project Manager, A Leading U.S. Bank