The Business Challenge
For most organizations contract negotiation and development is highly departmentalized and costly. The average Fortune 1000 company deals with 20,000 to 40,000 contracts annually, representing huge opportunity for increased risk. Contract creation, approval and maintenance have traditionally been a manual process prone to errors, wasted time and resources, increased operating costs, and missed cash-saving deadline opportunities. More organizations are looking to solutions to manage and standardize contract components, enable an efficient review processes, centralize the storage of contracts, track contractual terms and obligations, and meet compliance requirements.

With strict compliance laws now governing how business financials are reported, understanding the business health and position of a company has never been more important. Contracts between organizations define their economic relationships and form the basis for managing and controlling costs, therefore organizations must be in control of their contracts.

Livelink ECM - eDOCS for Contract Management
Livelink ECM - eDOCS for Contract Management is designed to provide full lifecycle support for all contract management requirements. It offers:

• Rapid creation of new contracts
• On-line, secure contract negotiations
• Integration with back office financial Systems
• On-line contracts access
• Contract analysis for terms, disbursements and content
• Automated notification of contract renewal
• Contract archival
• Clause Tracking
• Contract Performance Management

With Livelink ECM - eDOCS for Contract Management, organizations are able to streamline the contract creation and approval process, improve financial and contractual performance with suppliers and customers, and maximize revenue performance by managing compliance and ultimately decreasing operational and staffing costs.

Contract Management data sheet - Solutions for the Government Sector
View a recorded demonstration of Full Lifecycle Contract Management