Contract Management

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Contract Management

A company that does not control its contracts does not control its business. And while 60 to 80 percent of all business–to–business transactions are governed by formal agreements, many contracts, once signed, are forgotten. Employees engage in maverick or off–contract spending. Volume discount agreements are breached. Renewals lapse. Penalties are not applied. Ultimately, companies end up losing money – often, without anyone noticing.

Ketera’s solution addresses these needs. It is available in an On–demand model on a subscription basis, so there are no upfront software and hardware costs and no hidden IT costs. Implementation takes just a few weeks.

Capabilities of the Ketera Solution:

	»	Centralized contract repository with search and reference capabilities for authorized users. Existing contracts are imported or scanned and new contracts are created within the system.

	»	Contract authoring with integration to Microsoft word. Templates, clause libraries and Microsoft Word red–lining. On–line collaboration environment and configurable workflows.

	»	Automate contract lifecycle management with alerts, activity reports, and dashboard views. Alerts monitor existing contractual agreements for material changes to support timely disclosure requirements.

	»	Comprehensive contract change history provides easy audit trails for assessing adherence to internal controls (specifically, sections 302, 404, and 409 of Sarbanes–Oxley).

	»	Analytics monitor purchase price variances.

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