E-Commerce Industry

The GDPR and other similar regulations impose special legal obligations to the protection of the customers’ data for e-commerce businesses. Even, Deloitte – a professional service that helps organizations to achieve aims and avoid risk in global marketplace – states that non-compliance may result in expensive fines and reputation loss, while a lot of companies face difficulty in consistent compliance.

In the Chinese market, because of the competitiveness in the market and changes in seasons, there are constant changes in contract. Gartner has found that 60 percent of e-commerce contracts are amended on an annual basis, exponentially increasing the risk of non-compliant changes and potentially unlawful modifications.

Able research should be conducted to avoid problems related to unreliable suppliers. Supply chain delays, lost revenues, and bad customer experiences, PwC advances that lack of sufficient checks is not without consequences.

The Risk Report tool provides an active monitoring of compliance to rules such as GDPR or CCPA. This feature ensures that data privacy laws are observed, reduces failure to meet regulatory requirements and consumer loss, and protect brand image by expanding customer confidence.

Legalbook’s Metadata Extraction makes it easy tracking all the changes made to contracts since signing and make sure that all these changes; including all amendments are documented adequately, scrutinized and okayed. Such openness helps to mitigate risks associated with change in certain code by third parties, and it also enable the legal teams to quickly adapt to changing market conditions.

According to Due Diligence and Contract Summary tools, Legalbook captures pertinent data and supplies fundamental understanding of supplier contracts. This helps the suppliers to address the company’s standard issues thus reducing on risk and enhancing the supply chain.