Portland, ME and New York, April 13, 2001 Contract management and trade relationship management software solutions company I-many and Accenture recently announced a marketing alliance aimed at enhancing B2B contract management. Initially, the alliance plans to serve pharmaceutical and consumer goods manufacturers, with the goal of expanding to industries with similar needs, such as chemicals and electronics.
An overwhelming number of business transactions are governed by some type of contract, which creates the tremendous challenge of managing and tracking hundreds of agreements, said Accenture Pharmaceutical and Medical Products Partner David Blumberg. Moreover, since pharmaceutical companies pay a substantial percentage of revenues in rebates to managed-care organizations, group purchasing organizations and drug wholesalers, this alliance was formed to help the industry optimize and benefit from the critical capability of contract management.
I-many's suite of Web-based and behind-the-firewall solutions help companies more effectively and efficiently make, manage and maximize the value of business relationships as reflected in a contract or trade agreement. By combining these assets with Accenture's industry knowledge and experience, supply chain skills and client relationships, the partnership aims to help companies achieve cost efficiencies as well as enhance revenues through trading partner relationships. A recent Goldman Sachs research report indicates that companies using contract management software, such as I-many, can reduce their annual contract management expenses by 20 to 50 percent.
In addition to offering cost efficiencies, successful contract management enables professionals to reduce their focus on administration and increase attention on initiatives, such as developing business opportunities and evaluating financial performance, Blumberg added.
This alliance builds upon our strong cumulative presence in healthcare and consumer goods to offer products and services focused on improving the quality and value of trading partner relationships across the supply chain, said Leigh Powell, president and CEO of I-many. We are extremely pleased to be the preferred provider of contract management solutions for the world's premier consulting organization and look forward to working with Accenture to redefine the manner in which organizations create, manage and maximize their trading partner relationships.
