All posts tagged Automation
Today, corporate sustainability is a concept that is rooted in a conscious and ethical approach to capitalism.It embraces the idea that when value is created to be shared with all stakeholders, the long-term benefit of the company can be maximized. The rise of this concept and the integration of various environmental, social, and governance factors into decision-making are two of the most significant factors that have changed the way businesses operate.
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Blockchain technology is today considered the most extreme frontier of dematerialisation. Blockchain and Smart contracts show potential, especially in the simplification and optimisation of contracting processes. When a process becomes fully digitised and automated in a transparent and immediate way, the opportunities for various industries increase.
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The contract legal approval workflow can prove challenging, tedious, and time-consuming in a contract management process. Any legal document must be created, sent for review, approval, edited, and signed, generating back-and-forth emails and calls to negotiate it, involving generally multiple people.
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As a result of the ongoing uncertainty, businesses must consider ways to minimize expenses while increasing profitability. One of the most important ways to accomplish this is through excellent contract management. In this post, we will look at how automation can reduce administrative costs through better contract management.
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Blockchain technology is undergoing a significant transformation, particularly with the advent of Layer 2 solutions. These advancements are crucial in addressing the scalability and efficiency challenges that have long been associated with blockchain networks, particularly in smart contract development. Layer 2 solutions are designed to operate on top of the base blockchain layer, known as Layer 1, to improve transaction throughput and reduce costs without compromising security. This article delves into the essence of Layer 2 technologies, their main features, and their impact on smart contract development.
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It’s safe to say that not many suppliers, if any, like receiving paper contracts and processing a bunch of paperwork. And once that paperwork is filled out, staff has to scan or manually enter information from those paper forms. It’s inefficient and time-consuming, and it’s why more and more companies are using digital signatures for contract compliance.
With e-signatures and digital forms, businesses can electronically fill out the forms at their convenience, and data is sent to the supplier automatically, so no more paperwork is necessary.
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No code automation and self-executing contract management sound the same. However, there are subtle differences between the two. Here’s how you can identify which of the two is right for your business.Contract management and contract automation both address similar needs. But self-executing contract management requires very specific technology to work.
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