Ariba's contract-management solution curbs maverick spending
By Manufacturing Business Technology Staff -- Manufacturing Business Technology, 6/9/2008 9:11:00 AM MDT
“According to a joint study conducted by the International Association of Contracts and Commercial Management and Ariba, enterprises are experiencing an increase in the number and complexity of commercial agreements while headcount has declined,” says Ken Miklos, senior product marketing manager, Ariba. “This has led to an increase in contracting cycle times and exposed companies to new risks that impact their overall performance.
Miklos says with the latest release of Ariba Contract Management, organizations can tackle these issues by leveraging technology for electronically storing retrieving, authoring, and archiving contracts; and accessing and viewing them on an enterprisewide basis to ensure they are deriving maximum value from every commercial agreement. He adds that this is all possible using a single platform.
With enhanced buy and sell-side capabilities, Ariba Contract Management enables companies to collaboratively create and manage contracts across categories and functions, including sales, finance, marketing, real estate, legal, procurement, and IT. Through contracting tools delivered in an on-demand environment, organizations can move beyond basic authoring and document archiving to manage terms and risks and drive compliance with agreements on an enterprise-wide basis.
With Ariba Contract Management, companies can:
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Leverage pre-approved clauses, mitigating risky language and permitting legal to manage approvals by exception;
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Eliminate delays in contract creation and approval, and shorten sales cycles;
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Gain detailed visibility into contracts on an enterprisewide basis;
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Verify that service-level agreements have been effectively met;
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Track contracts and provide advanced notice of expiration;
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Access multi-party collaborative drafting tools and documents in an online environment to ensure consistency and control of the contract authoring process;
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Reduce revenue leakage; and
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Eliminate maverick buying.
Ariba’s on-demand contract management solutions require minimal investment in hardware and do not involve lengthy implementations, meaning companies can quickly get their contracts under control and begin to drive efficiencies and savings. In addition, Ariba’s solutions deliver low cost integration with ERP and other back-end data management systems.
