PHILADELPHIA--(BUSINESS WIRE)--Revitas, the leader in Enterprise Revenue Dynamics, today announced that a manufacturer of precision industrial equipment has extended the global deployment of the Revitas® Contract Manager solution across its operating divisions in both Europe and Asia. The company deployed the solution to support its aggressive growth strategy and merger and acquisition activity, while gaining global visibility into its agreements, contract milestones, and customer relationships, and improving overall business performance.
“As a midmarket growth company with a global presence, this manufacturer needed an efficient means of centralizing all its contracts in order to optimize its performance and drive future revenue”
The multidivisional capabilities of the Revitas Contract Manager application allow the company to author, modify, and sort contracts by division. Users gain insight only into their particular division’s agreements while overarching visibility is reserved for select stakeholders who oversee multiple divisions. Executives can now easily search and find agreements, and receive critical notifications about upcoming milestones and expirations. The milestone tracking capabilities also provide key stakeholders with advance notification of automatic contract renewals to avoid unwanted commitments and potentially save hundreds of thousands of dollars a year.
The company initially implemented the Revitas Contract Manager solution for its U.S. offices in anticipation of rapid business growth. The application has scaled with the company as it tripled its revenue to more than a billion dollars in just a year and has significantly reduced the manual effort involved in the contracting lifecycle. As a result, the company was able to sustain this exponential growth and increased volume of global contracts acquired from merger and acquisition activities with minimal increase in its contracting staff. Prior to utilizing the Revitas Contract Manager solution, the company had been storing contracts on local desktops and file drawers, managing them manually via spreadsheets and email—an error-prone and ultimately unsustainable strategy.
“As a midmarket growth company with a global presence, this manufacturer needed an efficient means of centralizing all its contracts in order to optimize its performance and drive future revenue,” said Al Smith, President and Chief Operating Officer at Revitas. “With its global expansion of the Revitas Contract Manager application, this company gains a scalable solution to manage its contracts in one central repository, while also retaining the capability to organize and track contracts by division. The Revitas Contract Manager solution will position this company for continued success as it grows by establishing more efficient contracting processes, maximizing agreement profitability, and clarifying contract performance across the globe.”
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/.