OpenText Contract Management
Improve profitability and reduce risk by maximizing the strategic value of your contract practices
Even today, most organizations still struggle to find an effective and strategic way to manage their contracts. There are still issues related to the governance, compliance, transparency, and overall process around proper contract management. It is no surprise that more than 60% of organizations surveyed by the IACCM have deemed contract automation a top priority in 2012.
With OpenText Contract Management, organizations can drive better value and adopt a best practices approach for their contracting operations by streamlining contract management, controlling risks, reducing penalties and lost revenue, and gaining visibility into the entire process.
With OpenText Contract Management, you can:
- Ensure a single point of truth and align organizational knowledge of commitments
- Simplify contract creation with pre-approved templates and clauses
- Shorten negotiation cycles
- Ensure adherence to contractual obligations
- Gain full visibility into upcoming renewals
- Create custom reports for immediate performance analysis
- Ensure compliance with policies and regulatory guidelines
For more information on OpenText Contract Management and its benefits and features, read the Solution Overview here.
Who benefits?
- Contract Managers: Rapidly locate all contract documents, enforce use of approved contract language and processes, and manage contract requirements more efficiently.
- General Counsel: Reduce exposure to risk, improve litigation readiness, and make more efficient use of time by focusing on high-risk, high-value agreements.
- VP Procurement and VP Sales: Reduce maverick spends, weed out evergreen contracts, enforce supplier commitments to maximize contract value, and proactively manage renewals for increased revenue.
