This week marks one year since Facebook’s Cambridge Analytica scandal, which may go down as the worst compliance failure in history with the company shedding $150B in market value in less than 90 minutes.
If you don’t know the story, it began in 2013 when Dr. Aleksandr Kogan created a Facebook app called “this is your digital life.” The app asked users questions that were compiled into a psychological profile, which was purportedly for academic use. In violation of Facebook’s contractual terms, Kogan then sold users’ responses and personal data to Cambridge Analytica, which then used it for political campaigns. The ensuing scandal, which erupted in March 2018, cost the social media giant the trust of its users who reacted by leaving the platform in droves. The stock plunged, erasing $150B of market value in 90 minutes.
While many businesses may not be at risk of a $150 billion compliance failure, most can relate to the risks involved with customers or vendors not sticking to the terms and conditions of a contract. Last August, we conducted a webinar on this topic, which you can view here:
With today’s business centered around contracts, the need to monitor compliance through automated contract management is critical. But is it worth the investment? What costs can you reduce through operational efficiency and what are the revenue gains from reduced sales cycle times? Most importantly, what is the real value of mitigating security and compliance failure risk in the enterprise?
Find out at our webinar on Tuesday March 26 at 11:00 EDT, when Peggy Barber, CEO of IACCM Americas, and Colin Earl, CEO of Agiloft, will host a one-hour presentation titled Beyond ROI: Calculating the real-world value of Contract and Commerce Lifecycle Management.
Click here to learn more and sign up for the webinar.
Note: if you are not able to attend at the scheduled time, please sign up and we will send you a webinar replay once the presentation has concluded.