Trakti | Smart Legal Contract Blog - Page 9 of 22

Trakti meets Adrian Furner: “Risk, an opportunity for innovation”

on October 14, 2022

Today Trakti meets Adrian Furner, Founder & Managing Director at Kommercialize, to talk about risk as an opportunity for innovation.

We have previously met Adrian Furner, on the 4th of October, during his valuable contribution as a guest to our recent webinar “Contract Automation, Benefits and Contexts.”

Watch the integral version here: What is Contract Automation, Benefits and Contexts.

Adrian Furner has over 30 years of experience in the design, implementation, and delivery of complex commercial transactions through novel business models.

A super master contracting expert, and member of the IET (Institution of Engineering and Technology), Adrian is a former board member and an honorary fellow of ‘World Commerce & Contracting’ where he is also an Executive in Residence. He is also co-founder of Open Fabric for Trusted Global Trade.

Today his practice is to advise professional firms on how to boost up their commercial competencies as well as Contributor, Speaker and Author of several books on commercial agility, collaboration and commercial innovation.

Adrian is a leading light for innovating contracting in companies of all sizes!

5 Fricrtion points that are killing your contracts

Eliminating friction points in contracting

on September 20, 2022

If you are following blockchain & bitcoin news closely, you must have noticed something about many billion-dollar companies, as well as Fortune 500 enterprises. They have officially jumped onto the blockchain bandwagon and are working around the technology.

There is a simple reason for this.

Reading time: 3 minutes

No code platform for contract management

on September 14, 2022

No code platforms have been gaining traction. In fact, a no code platform for contract management is an essential part of the strategy that reduces cost and drives internal efficiency at scale.

AI is a trusted ally when it comes to replacing repetitive tasks that cause errors, dropped handoffs and wasted time — and no code/low code platforms are the way to do it.

With IT teams occupied with system maintenance and security work, companies are turning to no code platform automation to meet their day-to-day requirements.

Reading time: 4 minutes.

Why you should digitize your contracts in 2022

Why you should digitise your contracts in 2022

on September 9, 2022

The slow but steady move towards web3 means organizations face a host of unprecedented challenges when it comes to digital transformation. With more and more operations and services moved to the cloud, it becomes all the more important for organizations to adapt their internal processes and tools to the new situation, such as digitising contracts.

Mental health and contract management

on September 6, 2022

A project always starts with a signed contract detailing all expectations and deliverables in order to have the outcomes of the project. But due to the complexity of paper-based contract management, this process can be viewed as a full part of project management.

For companies that interact with multiple parties on a day-to-day basis or those with large projects, mental health and contract management go hand in hand. One wrong contract means delays in shipping, stocking or payment and can really affect risks management, performance maximization and communication management.

Reading time: 6 minutes.

Roadmap to digital transformation: a new approach to contract management

on August 8, 2022

Technology innovation is driving businesses to transform the traditional way of work into faster and more efficient processes. A business transformation process consists in changing the processes, the systems, and the technology adopted, to achieve measurable improvements in efficiency, effectiveness, and stakeholder satisfaction.

Business Process Automation, also known as digital transformation, can accelerate impact across the business in a strategic and prioritised way, by introducing digital technologies. According to McKinsey, digital transformation helps to achieve 20% to 50% economic gains and a 20% to 30% increase in client satisfaction. Due to such advantages, the digital transformation market is growing quickly. Based on Zion Market Research, the Global Digital Transformation Market is valued at $374.8 Billion in 2020 and is projected to reach $889.8 Billion by 2028.

Digitalization can improve a business’s processes, providing new methods and opportunities.

Reading time: 5 minutes

Essentials for smart legal contracts drafting: beginner’s guide for innovative legals

on August 3, 2022

Blockchain gave rise to the concept of smart contracts; legal agreements programmed, executed and automated in computer code. While the automation associated with smart contracts has proceeded, legal standards supporting that automation have been slow to emerge. Legal practices who want to adopt this new technology need to be aware of the essentials for smart legal contracts drafting.

Reading time: 3 minutes

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