Redwood City, CA March 24, 2003 Networking solutions provider Extreme Networks is set to implement a sell-side enterprise contract management solution from Nextance to handle its sales and licensing agreements.
Santa Clara, Calif.-based Extreme Networks, which had net revenues of $442 million in its 2002 fiscal year, offers Ethernet broadband networking solutions in more than 50 countries.
Nextance will provide Extreme with a Web-based repository to manage the company's agreements and associated commitments. Users will be able to access and have visibility into all contracts from a single repository.
"We needed a solution that could be easily configured to our specific needs and one that is proven in the market," said Lisa Johnson, contract manager at Extreme. "After a careful evaluation of the various options available to us, we chose Nextance."
Johnson cited the Nextance's solution and the provider's track record with other large companies as determining factors in Extreme's decision.
Contract automation continues to be a hot topic in the enterprise software market. A recent survey conducted by Nextance revealed that with many enterprises still using manual processes to manage large numbers of paper contracts, most companies experience frequent problems just finding needed documents, and a majority of companies said they have lost 10 percent or more of their contracts and must ask their partners for a copy of the documents.
"Contract management is an area of tremendous change inside companies, and to date, enterprise software has not effectively supported contract-related functions," said Kirk Krappé, president and CEO of Nextance.
For more information on the potential return on investment in contract automation, see the February 13, 2003, iSourceonline article "The Quick Payback from Contract Automation."
For more information on contract management automation, see the article "Digging Out from the Contract Clutter" in the January 2002 issue of iSource Business.
Santa Clara, Calif.-based Extreme Networks, which had net revenues of $442 million in its 2002 fiscal year, offers Ethernet broadband networking solutions in more than 50 countries.
Nextance will provide Extreme with a Web-based repository to manage the company's agreements and associated commitments. Users will be able to access and have visibility into all contracts from a single repository.
"We needed a solution that could be easily configured to our specific needs and one that is proven in the market," said Lisa Johnson, contract manager at Extreme. "After a careful evaluation of the various options available to us, we chose Nextance."
Johnson cited the Nextance's solution and the provider's track record with other large companies as determining factors in Extreme's decision.
Contract automation continues to be a hot topic in the enterprise software market. A recent survey conducted by Nextance revealed that with many enterprises still using manual processes to manage large numbers of paper contracts, most companies experience frequent problems just finding needed documents, and a majority of companies said they have lost 10 percent or more of their contracts and must ask their partners for a copy of the documents.
"Contract management is an area of tremendous change inside companies, and to date, enterprise software has not effectively supported contract-related functions," said Kirk Krappé, president and CEO of Nextance.
For more information on the potential return on investment in contract automation, see the February 13, 2003, iSourceonline article "The Quick Payback from Contract Automation."
For more information on contract management automation, see the article "Digging Out from the Contract Clutter" in the January 2002 issue of iSource Business.
