Aircraft Manufacturer Selects Revitas Contract Manager Solution to Automate and Manage Global Supply Chain Contracts
The Revitas® Contract Manager solution will improve the efficiency, visibility, and speed of its contracting processes
PHILADELPHIA--(BUSINESS WIRE)-- Revitas announced today that a leading aircraft manufacturer has selected the Revitas® Contract Manager solution, part of Revitas's suite of Enterprise Revenue Dynamics (ERD) solutions, to accelerate contract execution, gain increased visibility into its contracts, and support multiple lines of business across its global operations. The company will deploy the Revitas Contract Manager software to create a centralized contract repository for both supplier and customer contracts, as well as to accelerate its request for proposal (RFP) process as it seeks to enhance the efficiency of its buy-side and sell-side contracting. Through Revitas Professional Services and Revitas University, onsite and online training will also be provided to educate users on ERD best practices for optimizing contracts, pricing, and compliance.
The company, a manufacturer of versatile and globally renowned aircraft, including defense aviation products for the U.S. government, needed an enterprise-class system that can handle the multiple languages and divisions of the global company. The Revitas Contract Manager solution also easily integrates with the SAP® ERP solution, so the company can connect its contractual data with its system of financial recordkeeping.
As Gartner Research Vice President Deborah Wilson notes, "Supporting contract management with technology improves governance and obligation management, but also lays the groundwork for automated contract compliance."1 Using the Revitas Contract Manager solution, the company can provide positive proof of compliance with the commercial terms and conditions of its contracts.
One differentiating feature of the Revitas Contract Manager solution is its ability to expedite responses to RFPs, a boon for the company's government contracting practice. Another capability that will increase the efficiency of contract cycle times is e-signature, which enables stakeholders to sign and execute contracts electronically to accelerate the sales and acquisition process and significantly boost renewal rates. Finally, Revitas Contract Manager Explorer will drive more informed business decisions by enabling the company to analyze contract cycle times, pinpoint any bottlenecks in the approval process, and optimize contract performance.
"Like many manufacturing and technology companies, this organization was seeking a more effective way to manage an increasingly complex global supply chain," said Al Smith, President and Chief Operating Officer at Revitas. "We partner with our customers to deliver ERD solutions that will help them save time, bolster revenues, and gain new insight into their business processes."
1. Gartner "Tackle These Top Four Procurement Processes to Maximize Procurement Impact," October 2012: http://www.gartner.com/id=2206615
Revitas, the leader in Enterprise Revenue Dynamics, delivers integrated solutions for contracts, pricing, and compliance that drive higher profitability and lower risk. Revitas empowers companies to optimize contract performance by defining, managing, and analyzing complex, multi-tier pricing incentives and enables positive proof of compliance with commercial, financial, and industry requirements. Powered by the secure, scalable, and standards-based Flex® platform, Revitas® applications speed time to market and improve visibility across B2B relationships. Hundreds of organizations across the most highly regulated and challenging industries leverage Revitas integrated solutions to save money, make money, and reduce risk. For details, visit www.revitasinc.com or http://blog.revitasinc.com/.
Alicia Buonanno, 610-228-2096
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The article Aircraft Manufacturer Selects Revitas Contract Manager Solution to Automate and Manage Global Supply Chain Contracts originally appeared on Fool.com.
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