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Connecting the dots between the cost and availability of products and services on the income statement with potential balance-sheet liabilities facilitates contract visibility and collaboration across the enterprise and its ecosystem, says Mickey North Rizza in the May 2008 AMR Research report, Preserve, Protect, and Defend with Contract Lifecycle Management. iContract is a best-in-class solution that enables contract visibility and collaboration through robust capabilities such as real-time audit and compliance, contract utilization, state-of-the-art security and line item-based search. |
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Mickey North Rizza,
Research Director, AMR Research |
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Targeted towards the sourcing and procurement professional, Zycus iContracttm provides organizations the ability to actualize negotiated contract savings through real-time monitoring, proactive alerting, and search capabilities. The product has intelligent tracking of contract compliance and utilization across the contract lifecycle. |
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Mickey North Rizza,
Research Director, AMR Research
Source:Article "Connecting the Spend Management Dots with Contracts" in http://news.zdnet.com/
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 Procurement Contracts:
Real Value Real Returns
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| 5 Best practices towards contract compliance |
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 Zycus Contract Management Brochure: |
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Contract management plays a vital role to a company’s financial health and is viewed as strategic weapon in optimizing contract performance and improving the return on investment. For many companies, over half their revenues are spent on goods and services and contracts. And this spend is negotiated hard with a great deal of effort and money. But when the returns are reviewed it’s difficult to find or is negligible when compared to the efforts. |
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The Zycus iContracttm enables sourcing and procurement professionals the ability to realize negotiated savings and maximum value from their contracts through real-time monitoring and tracking of contract compliance and utilization across the contract lifecycle. |
- Track and Manage Contract Life Cycle
- Focus on Contract Compliance
- Linkage with Forex and Commodity index.
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Contract Management is highly flexible and easy-to-use with a customizable interface, dynamic reporting capabilities, configurable dashboards and alerts all improving user adoption and enhancing performance, while minimizing risk and achieving the overall benefits of a company's spend management strategy. |
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- iContracttm Repository
- iContractTM Authoring
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Provides a secure and centralized contract repository that’s easily searchable using multiple customizable criteria and filters. |
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Contract Repository: One Version of the Truth
Contract repository, a single point secured location to store your contracts for an on-demand execution of contracts. |
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Contract Compliance: Provides you a workbench to match all the actual contractual spend to a specific contract, which would help an organization measure the performance of a contract, as well as track non contractual spend. |
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Alerts and Reminders: Unlimited configurable Alerts for Expiry, Auto Renewal, Utilization, FOREX, Commodity Index in the solution and also at your email inbox. |
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Utilization: Monitoring the contract utilization to track the performance of the contract. |
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Configurable Dashboard: It is a configurable dashboard which provides you the alerts and reminders with the performance of your contract. |
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Workflow: All existing processes and policies of an organization can be easily mapped within the tool, so as to ensure that none of the steps followed in day to day routine are skipped and hence potential risks are minimized |
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Enables organizations to create a secure easy authoring of contracts using pre-approved templates, boilerplates and clause library. A robust workflow ensures consistent, repeatable standardization of all internal processes across the contract creation lifecycle. |
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Contract Negotiation: It provides a standard contract negotiation workflow to manage review and execution of a contract management document. It includes the amendments of the contract management document, legal review and revision, as well as the final contract.
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Wizard based contract authoring: A Configurable wizard based contract authoring helps you to author contract in a step wise standard approach. This eliminates the errors made during contract authoring.
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Template Library: Template library is available for standard template in the repository for new contract creation. |
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Clause Library: You can use the clause library for any of the pre-approved clauses to be inserted in the contract. |
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Collaborative Authoring: Zycus iContracttm provides you to a collaborative authoring approach wherein you can invite your stakeholders for contract authoring. |
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MS Word integrated authoring: Integrates with the most common platform for contract creation. This eliminates the manual authoring and tracking the changes. |
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For more details on Zycus Contract Management, download a consolidated brochure
 Zycus Contract Management (686 KB) |
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