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Rosslyn Analytics Launches New On-demand Contract Management Module
New features include automatically linking value of contracts to enterprise-wide spend data; modeling tools allow users to forecast 'what-if' value of future contracts
Tim Cummins, president and CEO of the International Association for Contract & Commercial Management (IACCM), discussed his organization's recent survey results, which found a majority in contract/legal roles feel their company does not focus on the right types of risks, in this video posted by AribaSpendManager on June 12, 2009.
London — January 27, 2010 — Rosslyn Analytics today launched version 2.0 of its RA.Pid Contract Management Module, which it describes as a new generation of analytic applications designed specifically to help enterprises more efficiently monitor and manage supplier risks, compliance and business performance.
The solution provider said that RA.Pid Contract Management Module Version 2.0 can be up and running in hours, with no software or hardware installations. The solution provides one drill-down dashboard of contracts linked to third-party data pertaining to market conditions and/or compliance such as supplier diversity.
Predictive modeling tools within the solution allow users to forecast the "what if" value of future contracts, while more than 20 new ready-to-use reports and scorecards are also available, such as a savings tracker for monitoring rebates. In addition, real-time automatic triggers and alerting system based on dates and spend targets
"Best-in-class enterprises understand the value of automated contract management systems as a means to centrally institutionalize systematic process for the creation, storage and analysis of contracts across business units regardless of geography," said Charles Clark, CEO of Rosslyn Analytics. "Rosslyn Analytics is addressing a gap in the market, which our customers asked us to fill, by developing a new contract management module that seamlessly links contracts to a company's spend data, integrated from internal and external sources, into one shared dashboard for use by procurement and contract professionals."
The RA.Pid Contract Management Module Version 2.0 is available to all Rosslyn Analytics customers. The prebuilt applications run on rapidintel.com, a Web-based automated spend analytics platform that aggregates data from multiple sources, such as accounts payable, procurement, travel and procurement cards, into a single online view of all organizational spend. Rosslyn Analytics said that organizations using rapidintel.com have consistently witnessed an ROI as quick as eight weeks.
"Knowing when a spend milestone has been achieved, or when a rebate is due, or how much has been spent on a particular category with a particular supplier over a particular period will probably astound many customers," added Clark. "Powerful Web-based automated spend analytics platforms are changing the economics of contract management by giving users powerful analytics necessary to better forecast liabilities and accruals, negotiate better contracts and control how discounts are to be spent."
The solution provider said that RA.Pid Contract Management Module Version 2.0 can be up and running in hours, with no software or hardware installations. The solution provides one drill-down dashboard of contracts linked to third-party data pertaining to market conditions and/or compliance such as supplier diversity.
Predictive modeling tools within the solution allow users to forecast the "what if" value of future contracts, while more than 20 new ready-to-use reports and scorecards are also available, such as a savings tracker for monitoring rebates. In addition, real-time automatic triggers and alerting system based on dates and spend targets
"Best-in-class enterprises understand the value of automated contract management systems as a means to centrally institutionalize systematic process for the creation, storage and analysis of contracts across business units regardless of geography," said Charles Clark, CEO of Rosslyn Analytics. "Rosslyn Analytics is addressing a gap in the market, which our customers asked us to fill, by developing a new contract management module that seamlessly links contracts to a company's spend data, integrated from internal and external sources, into one shared dashboard for use by procurement and contract professionals."
The RA.Pid Contract Management Module Version 2.0 is available to all Rosslyn Analytics customers. The prebuilt applications run on rapidintel.com, a Web-based automated spend analytics platform that aggregates data from multiple sources, such as accounts payable, procurement, travel and procurement cards, into a single online view of all organizational spend. Rosslyn Analytics said that organizations using rapidintel.com have consistently witnessed an ROI as quick as eight weeks.
"Knowing when a spend milestone has been achieved, or when a rebate is due, or how much has been spent on a particular category with a particular supplier over a particular period will probably astound many customers," added Clark. "Powerful Web-based automated spend analytics platforms are changing the economics of contract management by giving users powerful analytics necessary to better forecast liabilities and accruals, negotiate better contracts and control how discounts are to be spent."
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