The key to understanding Ecteon’s contract solution is to understand that our solution is really your solution. We provide a platform for you to take your processes, your knowledge and your competitive advantages and harness them through a highly flexible contract management system that adapts to you, rather than requiring you to adapt to itContract management on your terms.
All contractual information is available and searchable on line. Contraxx aggregates contractually significant information across the entire organization and presents it to senior management using custom dashboard reporting.
Contraxx allows organizations to immediately identify the exact rights available for asset exploitation. By aggregating all contracts linked to a specific asset the company can ensure it is optimizing its financial performance with respect to that asset to drive bottom-line profits.
With Ecteon’s Contraxx suite of products, organizations mitigate risk by ensuring that risk-bearing contract details are visible and accessible to the appropriate business users. Through automated exception reporting, senior management is assured that if risks exist, they they will be brought to the forefront of decision making rather than slipping by undetected.
Ensure Contractual and Regulatory Compliance
By establishing rules for workflow processes, senior management can be assured that the proper approvals, notifications and alerts go into effect for every contract at precisely the right time and involve precisely the right people. Any lapse in a given workflow process is immediately flagged for resolution. Contraxx creates a culture of compliance that supports organizations in satisfying regulatory requirements such as Sarbanes-Oxley, HIPAA, EPA, etc., throughout the entire life of a contract.
Strengthen Customer and Vendor Relationships
Contract compliance is as relevant to you as it is to your customers and vendors. Contraxx enables you to deliver on commitments, meet deadlines and prepare accurate invoicing or billing based on contracted terms.