Brentwood, TN – Ecteon Inc., the premier contract management software provider, today announced that its Contraxx solution delivers on all the recommendations outlined in the Aberdeen Group’s new benchmark report, “Sell-Side Contract Management: Opportunity-to-Order Optimization.”
“Ecteon’s Contraxx solution enables organizations to centralize, standardize and systemize the entire contract lifecycle, from creation through expiration or renewal,” explains Lonnie Blackwood, President of Ecteon. “The Aberdeen report offers recommendations that enterprises should consider to improve their sell-side order cycle. Our software provides a comprehensive solution to address these specific objectives that do face many of our prospective customers.”
The Aberdeen research recommendations include: 1) Move away from paper-based and largely-manual contracting methods; 2) Review contract management policies and procedures; align them with technology solutions; 3) Track commitments and obligations to customers as stated in the contracts by making contract data available to relevant stakeholders; 4) Integrate the contract management system with the financial and transactional systems; and 5) Utilize reporting and analytical capabilities regularly to measure contract performance.
“A well-run contract compliance program can capture revenue, improve relationships, reduce risk, and limit liability exposure,” notes Andrew Bartolini, Vice President of Global Supply Management research at Aberdeen. “Our research shows that Best-in-Class enterprises are more likely to automate the sales contract process and achieve significantly higher compliance rates as a result.”
A complimentary copy of the new Aberdeen report is available through Ecteon at www.ecteon.com.
About Ecteon, Inc.
Ecteon is the developer of Contraxx, the premier enterprise contract management software solution. For over 20 years, contract management professionals have turned to Ecteon’s solutions to help increase profits, mitigate risks and ensure regulatory compliance. Ecteon is employee-owned and prides itself on low staff turnover and high customer satisfaction across many industries and governments around the world.
About Aberdeen Group, a Harte-Hanks Company
Aberdeen is a leading provider of fact-based research and market intelligence that delivers demonstrable results. Having benchmarked more than 30,000 companies in the past two years, Aberdeen is uniquely positioned to educate users to action: driving market awareness, creating demand, enabling sales, and delivering meaningful return-on-investment analysis. As the trusted advisor to the global technology markets, corporations turn to Aberdeen for insights that drive decisions.
For more information about Ecteon visit www.ecteon.com or contact Al Wild at alwild@ecteon.com or 615-373-8551 x222.