Gatekeeper Contract and Vendor Management Glossary

Search common contracting language and take a deeper dive to discover what each means

Contract Risk

Contract Risk is the potential for things to go wrong during the operation of a Contract, such as:

  • The failure of the Contract to deliver the expected value
  • An inability to anticipate and deal with change
  • Non-compliance with contractual or regulatory Obligations.

Contract management software can help businesses to identify, analyse and mitigate risk. The Risk Module from Gatekeeper allows businesses to: 

  • Centralise, analyse and measure risk introduced by third-parties
  • Inform their risk mitigation strategies by assigning a 'Risk Score' 
  • Trigger workflows, such as escalations, from said Risk Score