LiquidSMARTS℠, in conjunction with Stillpoint Software has developed a novel solution to drive efficiencies in the complete contract management life cycle reducing labor costs, time, and risk while improving accuracy, compliance and bottom-line.
MINNEAPOLIS, MN, October 21, 2020 /24-7PressRelease/ — In the area of modern contract performance management, data driven decision making is now the strategic advantage. However, there are many sizeable pain points and hidden risks in managing contracts that many companies do not recognize. In fact:
• Companies lose 10% of their bottom line through ineffective contract management
• 65% – average annual turnover percentage of contract administrators
• $21,3000 – average cost of a mid-complexity contract
• 24 hours – minimum time spent per contract & amendment
• $100,000 – minimum cost per audit
• $120,000 – vendor contract administration cost
• 30% of contracts lack a force majeure clause
TRACTUS Contracting Management System solves the complexity and challenges in the complete contact cycle from negotiation through renewal. Tractus links the insight hidden in contracts by making the data transparent and relevant to enable real time decision making for better outcomes. Innovation stems from deep analytics and a secure communication system for advanced collaboration.
By turning the data in contracts into actionable insight companies are empowered to be proactive in the following areas:
• Auto-renewal clause existence
• Auto-renewal dates
• Contract expiration dates
• Region of contractual governing law
• Pricing (valuations)
• Payment terms
• Maximum liabilities
Tractus links the insight hidden in contracts by making the data transparent and relevant to enable real time decision making for better outcomes. It was developed by a team of industry experts with over 20 years of national accounts, contracts, and pricing.
For more information, contact Ed Staten at [email protected] or visit www.liquidsmarts.com/TRACTUS or call (423) 702-4001.
LiquidSMARTS℠, a Global Professional Services and Technology Company, focuses on reducing miscommunication, misalignment of resources, and discoordination of action in periods of rapid change. Avoiding these issues increases engagement and sales volume. Clients benefit from innovative assets and business processes including micro-learning services to impact and reinforce development and organizational success.
ABOUT STILLPOINT SOFTWARE
At Stillpoint Software, our mission is to address the [email protected]@C communication gap across all systems, devices to reach more people more effectively, both inside and outside the enterprise. Our communication platform drives relevance and innovation by orchestrating and measuring activities at enterprise scale; secure and synchronized, across every device. We simplify engagement with people inside and outside of your organization and the integrations with the systems and processes necessary to make those engagements meaningful.
For more information visit www.stilpointsoftware.net or call (520) 991-9424.
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