Contract Management

Contracts are at the center of business activity for oil and gas companies. Contracts define and govern virtually every relationship across the enterprise. Simplifying contract assembly, shortening the approval process, and effectively managing contract renewal terms affects the financial and operational health of a company. Contracts also represent one of the largest areas of risk for organizations. As such, contracts must be controlled throughout their entire lifecycle.

Livelink ECM - Contract Lifecycle Management covers the entire contract lifecycle and addresses core elements, including RFP development, contracts involved in capital projects, operational contracts on both the buy and sell sides of the business, and all contracts related to human resources.

Enterprise Content Management (ECM) solutions from Open Text for contract management deliver this functionality with the following components:

Supplemented by Business Content (e.g., predefined workflows) to give you a head-start in configuring workstreams and processes, Consulting Services, Training and Support tailored to meet your requirements.

 
 

Meet your Business Goals

GOAL: Improve collaboration with business partners
KPI: Decreased contract negotiation time

GOAL: Eliminate evergreen contracts
KPI: Reduce missed renewal dates to zero

GOAL: Improve forecast accuracy
KPI: Vendor performance measurements

GOAL: Reduce inventory carrying costs
KPI: Cost of inventory

GOAL: Improve customer service
KPI: Customer satisfaction ratings

Goal: Increase savings from vendors and procurement process
KPI: Company profitability with tangible savings in procurement costs

 

 

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