Finance/Business Affairs

For most businesses, contracts dictate the majority of financial activity. Thus, effective contract management is critical in realizing sales, controlling expenses and ultimately, determining profits. The Contraxx solution offers finance professionals the insight and tools needed to increase profitability, mitigate risk and ensure compliance.

Maximize Exploitation of Assets
Contraxx allows organizations to identify, immediately and at low-labor cost, the exact rights available for asset exploitation. Finance professionals can aggregate all contracts linked to a specific asset to ensure the company is optimizing its financial performance with respect to that asset.

Comply with Crucial Contract Dates
Through notifications and alerts, Contraxx helps organizations minimize risk associated from missing crucial contract dates. Desirable contracts are renewed on time and unwanted contracts are terminated immediately upon expiry. Many other date-related provisions exist in contracts, including late fees, payment terms, volume discounts, option dates, and maintenance requirements, which are also managed by Contraxx. For every date-related provision, Contraxx will set up notifications and alerts to ensure that key contract activities do not "fall through the cracks".

Comply with Regulatory Requirements
Contraxx creates a culture of compliance which supports organizations in satisfying regulatory requirements such as Sarbanes-Oxley, HIPAA, EPA, etc. Regulatory compliance involves both the preparation of the contract and also throughout the life of the contract and its ongoing obligations. Contraxx helps ensure that companies adhere to contractual obligations throughout the entire life cycle of a contract.

Optimize Employee Productivity
By replacing manual processes with an automated and streamlined system, Contraxx significantly reduces the time and cost associated with contract management. Contraxx also serves to increase productivity for all business users who can readily access contracts through the centralized repository and utilize the reporting tools to drive business decisions.