Any CLM software should not stop with just building a contract repository, it should provide intelligent analysis of the contract to derive greater value from it, be informed and create risk mitigation strategies as well as improve efficiency of contract performance. Ultria CLM leverages AI and machine learning capabilities enabling organizations to analyze contracts more accurately and effectively to identify contract hotspots. Ultria CLM Contract Analytics tool enables you to,
⦁ Gain Valuable Insights into Business performance:
Extracted contract data is converted into actionable insights with intuitive and easy to understand data visualization and role based, customizable dashboards and reports. Essential functions such as cycle times, deviations, risks, statistics (expiry, renewal, pending, etc.), procurement, and general business metrics can be analysed holistically. Moreover, a variety of metric categories enables configuration of dashboards to drill straight into the critical data without wasting time on wading through the superfluous noise enabling to instantly see the performance of the contract.
⦁ Eliminate revenue leakage and accelerate risk management:
AI-based Ultria CLM contract analytics tools protect from revenue leakage and reduces risk exposure by finding areas of risk in your contract portfolio. There may be terms and clauses in your agreements exposing you to risk or there may be many agreements with the words unlimited, auto-renewal or fee increase leading to revenue leakage and increased risk. With AI-based contract analytics, contracts containing those words and risk clauses can be summarised enabling you to be in a stronger position to renegotiate more favourable terms for future renewals or negotiate amendments.
Clauses that expose you to risk like Indemnification, Limitation of Liability, Insurance, Force Majeure clauses can be searched, and such contracts can be compiled enabling an organisation to understand what they are committed to and the potential impact it may have if challenges or issues arise making obligations across concerned parties completely visible.
⦁ Meeting Obligations and Compliance Management:
Ultria contract analytics tool provides effective contract obligation management and appropriate governance tools for greater visibility and control over the contract process. It provides a logical environment to manage contract documents, performance, and milestone data as well as track if contract obligations are adhered to reducing risk and exposure that is typical for complex contracts. It ensures vendors comply with contract terms and conditions, improves relationship with service providers, optimize contract structuring for sustained cost reduction and maximizes contract value by optimising cost and recovering revenue.
With contracts happening across borders, they need to meet not just standard and legal compliance requirements but also international compliance. Ultria CLM powered with AI and machine learning makes sure contracts are fully compliant from the start and updates and makes revisions as an when changes are made to regulatory standards.
Unlock the full value of your contracts today with Ultria’s CLM powered with AI and Machine Learning. Let the right people access the right information on your contracts at the right time from anywhere today with user defined customisable and configurable dashboards. Ultria’s CLM not just creates, manages and stores your contracts but also connects disparate teams with smart and timely alerts of changes to the contracts and identifies your business risks, reduces costs and maximise revenue. With a 3600 view of your contracts, it provides a transparent audit trail that identifies critical workflow complications that help to create an effective risk mitigation strategy that does not hamper the performance of the contract. With a specialized implementation and support team that travels with you through the entire journey with our cloud-based Ultria CLM solution be assured for a smooth transition into the CLM space. Ask for a free demo today.