Contract Management
Lecorpio contract management supports the entire contract lifecycle. The system support pre-contract processes, contract creation and execution, commitment management and post-contract compliance administration. It provides a central repository to coordinate, share and store
contractual and relationship information. The system has robust search and reporting capabilities along with automated alerts for contract events and milestones. It can calculate in/out royalties automatically based on payment terms and conditions. The system also provides
functionality for on-line approvals and for interfaces to other systems.
Key Features:
Centralized repository
Lecorpio contract management provides a centralized repository to manage all relevant information which ensures that each authorized participant has the latest and accurate information about third parties and contractual relationships.
Commitment management
Commitments such as payment terms and dates, milestones, events, and other calls-to-action that generate workflow are monitored and managed by the system.
1. Time-and event-based triggers
2. Term management
3. Notification through email, pager or any data medium
4. Automated routing and approval
5. Manage any commitment type
6. Be notified of renewal dates or any milestone
Payment terms management
Corporate legal can easily manage complex contracts, the payment structure is a function of many variables, including revenue generation, unit volume, discounts, advances, guarantees, and many others. You can keep track of simple or complex calculations associated with the payment of license fees. In addition, automatic notifications are triggered before due dates or before variable milestones are achieved, such as a certain amount of revenue.
Task management
Corporate legal department can capture important tasks and activities to manage the contract maintenance process. Each party in the critical path is notified when they are needed to perform a task, and alarms are triggered if delays occur.
Document management
The system provides the capability to search and attach related documents such as term sheets, revisions, appendix etc.
Benefits:
Reduce cycle time
Lecorpio contract management automated manual tasks through sophisticated workflows and reduces cycle time to process new requests.
Manage budget
Better resource and budget allocation, monitoring and control. Review invoices; Monitor any gaps between budgets and actuals received via invoices; remove revenue leaks.
Reduce risk
Lecorpio contract management reduces the risk of losing revenue owed to the company due to missed deadlines, unnecessary renewals etc., by providing proactive event and time based notifications and reminders.
Improve performance
Streamline frequent administrative processes with a rapid speed-to-approval process and comprehensive self-service capabilities.
Understand productivity
Gain real-time analytical insight into the productivity and performance of the entire process to improve decision-making.
Boost employee satisfaction
Empower employees with advanced self-service capabilities that allow them to view the real-time status of their requests, who is reviewing it at this time and important provisions etc. |
