Procurement & Contract Management Application

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Why Risk Cloud?

Risk Cloud® is a no-code risk and compliance platform that scales and adapts to your changing business needs and regulatory requirements. Centralize contract management processes and gain continuous visibility into pending and active contracts across the enterprise to ensure compliance with legal requirements and strategic initiatives.

Centralize and Standardize Contract Management

Managing vendor requests and contracts across business units can be unruly and time consuming with costly implications if legal requirements or deadlines are not met.

Risk Cloud’s Procurement & Contract Management Application helps you centralize and standardize procurement workflows to ensure adequate due diligence on every vendor or service agreement over the entire contract lifecycle, including intake, review, and renewal.

Create a Single Source of Truth for Vendor Procurement and Contract Management

Unite disparate departments and processes by creating a single source of truth for vendor procurement and contract management with configurable, out-of-the-box workflows designed to help you:

  • Increase process adoption with easy-to-complete forms and guided next steps for vendor onboarding and contract review
  • Monitor and identify breach of contracts with automated review notifications to contract owners
  • Gain real-time insight into contract lifecycle management, from outstanding vendor reviews to upcoming renewals
Create a Single Source of Truth for Vendor Procurement and Contract Management
Increase Process Adoption

Increase Process Adoption

Create a one-stop-shop for gathering, reviewing, and approving new vendor details. Leverage a standardized form with clear progress indicators that automatically notifies your procurement team of completed requests. Seamlessly kick off contracting workflows anytime vendor requests are approved. Automatically assign relationship owners contracting activities for legal review and approval. Boost process adoption by integrating workflows with the tools vendor and contract owners love most, including DocuSign, Google Drive, Slack, and Microsoft 365.

Monitor and Identify Breach of Contracts

Stay ahead of underperforming vendors with automated review notifications. Notify contract owners on a set cadence to reassess vendor performance, then track high, medium, and low in a single click. Proactively engage your legal team to review low-performing vendors and all related contract data to take appropriate action and mitigate third-party risk.

Monitor and Identify Breach of Contracts
Gain Real-Time Insights into Contract Lifecycle Management

Gain Real-Time Insights into Contract Lifecycle Management

Centralize all of your contract management data to gain real-time insight into key contract details like outstanding vendor reviews, SLA performance, and upcoming renewals. Keep key stakeholders informed with visual reports and executive dashboards that highlight program status and trends over time. With this level of clarity and Risk Cloud’s no-code interface, you’ll have the ability to mature your procurement and contract management program over time without costly change orders or IT support.

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