<img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=271231627262368&amp;ev=PageView&amp;noscript=1">

Gatekeeper Contract and Vendor Management Glossary

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

Glossary > C

Contract Risk

Contract Risk is a situation involving the potential for exposure to danger, harm or loss.

It can often go undetected in businesses that have manual and fragmented contracting processes.

Without standardised processes and complete visibility of their portfolio, businesses can face:

  • Key contract dates passing unnoticed, leading to automatic renewal or termination
  • A lack of contract ownership leading to poor outcomes such as non-compliance 
  • Poor awareness of contract obligations which could lead to disputes when they're not fulfilled

Gatekeeper helps businesses to monitor, manage and mitigate contract risk by providing complete visibility of the contract portfolio. 

A combination of automation, artificial intelligence and notifications can bring risks to immediate attention. 

The Risk Module allows businesses to report on and analyse contract risk, while using Risk Scores to automatically trigger mitigation workflows.