Managing contracts that run from ten to thousands of pages with number of clauses, terms and amendments becomes tedious for an enterprise. The sole purpose of the contract is to define the business interaction. They tend to forecast expected revenue, control the procurement costs, manage the suppliers and the customers, establish the service levels and protect the intellectual property to mitigate the risks.
Contract processes in enterprises are determined by fragmented and labor intensive processes, poor/low visibility in the terms and conditions as well as ineffective compliance management. Our contract lifecycle management solutions will help standardizes, streamline and automate the entire contract processes starting with initiation to expiration. We cut down on contract cycle times by 50%, and offer improved visibility and control into the contract portfolio.