You have all the data that your company’s contracts contain, but what do you do with it? Organize it? Optimize it?
There is a huge amount of data that you can get by using a contract data management system and leveraging Smart contract functionality.
It will allow you to extract valuable information from your contacts and improve the efficiency of your operations.
So let’s learn more about capitalising for Contract data to optimize and orchestrate processes efficiently.
Hai tutti i dati contenuti nei contratti della tua azienda, ma cosa ne fai? Li organizzi? Li ottimizzi?
Un sistema di gestione dei dati contrattuali, sfruttando la funzionalità degli Smart contract, ti consente di ottenere una grande quantità di informazioni preziose. Questo ti permetterà di estrarre dati di valore dai tuoi contratti e migliorare l’efficienza delle tue operazioni.Scopriamo quindi come capitalizzare i dati contrattuali per ottimizzare e orchestrare i processi in modo efficiente.
Many people are aware of the inherent connection between blockchain technology and cryptocurrencies. However, blockchain’s potential goes far beyond digital assets, it serves as a powerful infrastructure for automation, security, and transparency in various industries. One of its most transformative applications is in smart contracts, which are revolutionizing the way agreements are created, executed, and enforced.
Smart contracts are the backbone of the blockchain. The self-executing contracts put into operation any task using a computer code and execute it by a network system without any human input following its initiation by the parties. Since a smart contract is executed and performed autonomously without risk of tampering, there are vast opportunities for implementation in the business sector. Especially when it comes to no code smart contract drafting.
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Non-fungible tokens (NFTs) have surged in popularity in recent years, with millions of pounds exchanging hands for digital assets such as artwork, music, and collectibles. However, as the NFT market continues to grow, regulation challenges surrounding NFTs have become a pressing concern. One of the most debated issues involves royalties and intellectual property rights.
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In recent years, stablecoins have gained significant traction in the cryptocurrency market as a stable and reliable alternative to more volatile cryptocurrencies such as Bitcoin and Ethereum. Stablecoins are digital currencies pegged to stable assets like the US dollar or the euro, designed to maintain a steady value and suitable for various transactions, including payments, remittances, and trading. However, their rise has triggered regulatory concerns about their potential impact on the financial system, particularly regarding money laundering, financial stability, and consumer protection.
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In today’s digital-first world, effective data management is essential for businesses to stay competitive, ensure compliance, and build trust with stakeholders. With cyber threats on the rise and sensitive information flowing through contracts and operations, safeguarding data is no longer optiona it’s a business imperative. This article delves into the importance of robust data management, the risks of neglecting it, and how an innovative contract lifecycle management (CLM) platform like Trakti, certified to ISO 27001:2022 standards, can help.
The Importance of Data Management
Data drives modern businesses. From client records to proprietary strategies, companies handle vast amounts of sensitive information daily. Mismanaging this data can lead to dire consequences, including:
Implementing ISO 27001:2022 ensures organizations follow best practices to secure data across all levels. This international standard offers a robust framework to manage risks, protect information, and foster trust among partners, clients, and stakeholders.
The Risks of Neglecting Data Protection
Data breaches are more than just IT issuesthey’re business disasters. Contracts, a critical element
in any operation, often house highly confidential information, including:
A single breach in contract management could lead to leaked trade secrets, legal battles, and fractured business relationships. The rise of remote work and cloud-based systems has increased the attack surface for cybercriminals, making it crucial for businesses to implement stringent controls.
ISO 27001 and Contract Data Security
ISO 27001 is the gold standard for information security, and its principles are particularly vital for contract data management. By adopting its structured approach, businesses can:
For contract lifecycle management, ISO 27001 provides specific guidance on encryption, role-based access controls, and regular security audits,key to managing contract data securely.
How Trakti Empowers Businesses
Trakti, an ISO 27001:2022-certified platform, redefines secure and compliant contract management. Designed to address modern challenges, Trakti offers:
By automating contract processes while adhering to the highest security standards, Trakti helps businesses mitigate risks, enhance efficiency, and strengthen trust with clients and partners.
Securing Your Future with Trakti
Trakti’s ISO 27001 certification is more than a badge,it’s a commitment to excellence in data security. By choosing Trakti, businesses gain a trusted partner that prioritizes safeguarding sensitive information, enabling seamless, compliant, and secure operations.
In a landscape where data management can make or break a company, leveraging an innovative CLM platform like Trakti ensures peace of mind and a competitive edge. Safeguard your data, secure your contracts, and strengthen your business with Trakti.
Ready to protect your data?
Contact us today to explore how Trakti can transform your contract management processes.
Book a FREE DEMO with us and find out more about our offer
AI-based chatbots are software that rely on technologies like natural language processing and machine learning.
By using smart contracts, integrating AI systems into customer support can have a significant impact and help mitigate potential issues.
AI in customer support enables faster interaction with users and improves the overall customer experience, but its systems require considerable time, large datasets, and a lot of work.
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