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More and more, insight-driven CFOs are realizing that the secret to better forecasting lies in their relationships with procurement. Capturing the big-ticket items from vendor contracts can be an extremely useful forecasting tool, giving CFOs a realistic picture of the company bank accounts. The supply chain can give CFOs a rich source of direct cash flow insight — if only they could access it. Building accurate direct cash flow models requires CFOs to…
The California Consumer Privacy Act (CCPA) ushered in a new era for contract compliance management when it became effective on January 1, 2020. The CCPA lays out comprehensive rules for businesses that sell to Californians and handle consumer data. If a business has at least $25 million in annual revenue, or it collects and/or sells sensitive personal information from California consumers above certain thresholds, then it must adhere to strict requirements including how it handles…
There has been a rise in the number and impact of data breaches in recent years as more commerce moves online and a higher number of businesses collect and store customer data to provide increasingly individualized advertisements and shopping experiences. In response, we’ve seen a resulting propagation of divergent data privacy regulations for the benefit of consumers throughout a range of jurisdictions. There are currently 142 countries with data privacy laws, 62 of which…
When Travis Somerville joined Keller Williams to lead the new procurement team, he faced a problem that digital contracting change makers know all too well. To transform Keller Williams’ contract management function into a well-oiled, business-driving force, he’d need to motivate legal, finance, and procurement teams to truly start working together. Travis had his work cut out for him. Ten years of vendor agreements were scattered across departments. There was no shared calendar for…
In previous posts, we’ve explained what contract lifecycle management is and why it matters for business. Legacy systems provide contract management software that automates some or all of the process of contract creation and management, from the generation of templates, through the negotiation and drafting of new or revised clauses, to the execution and ongoing management of a portfolio of agreements. But what’s next? At Evisort, we’re focused on the advent of artificial intelligence in…
Pre-trained AI platform uncovers millions in potential savings, unlocks missed revenue, and exposes risks hidden in contracts within days of implementation SAN MATEO, Calif. — Feb 23, 2021 — Evisort, the intelligent contract management platform, today announced $35M in Series B funding following a year of 4x revenue growth, bringing its total funding to $55.5M. Global growth equity investor General Atlantic led the round, with participation from existing investors Amity Ventures, Microsoft’s venture fund…
By Jerry Ting, Evisort Co-Founder and CEO I’m thrilled to share that Evisort has closed $35M in Series B funding, led by General Atlantic.  Over the last couple of months, we’ve been able to meet the broader team at GA, and I couldn’t imagine a better partner as we scale our business to new heights. In particular, I’m excited to welcome Gary Reiner, former CIO of GE, as a Board Director and Alex Crisses,…
Introduction Auditing your business’s contracts for compliance is essential to ensuring that your business captures the value that you’ve negotiated with your partners. In light of emergent data privacy regulations, it’s also crucial that your contracts provide the required protection to your customers. Whether you’re identifying cost overruns on the part of your vendors or checking your own internal processes to make sure that you are billing your clients correctly for the work you do,…
The last decade has seen nearly constant change in compliance requirements. 2020 was no different, despite a global pandemic and a federal election. As we dive into 2021, we’ll see a continued focus on regulatory compliance, with new data privacy laws, financial regulations and deadlines on the horizon.  Businesses that step up to meet these standards will help restore customer trust and uncover new opportunities. Those that don’t will face steep penalties for non-compliance.  What…
The total number of COVID-19 cases in the US recently shot past 9 million. The country is recording its highest daily totals of new cases more than seven months after the White House declared a state of emergency. Employers navigating the pandemic are leaving no stone unturned as they attempt to weather present losses and prepare for the future. A pressing question for everyone is how insurance coverage comes into play. Do policies designed to…