What is Nextance Contract Insight?
Nextance Contract Insight is the core of the Nextance solution. It creates a centralized, intelligent, online repository in which all your procurement and sales contracts, IP agreements, and related documents, and associated commitments, terms, and performance are stored. Having immediate online access to all of your agreements makes it possible to track and follow-through on each and every obligation, deadline, SLA, and milestone contained in each contractual agreement.
Benefits and Insights
Why use Nextance Contract Insight?
Key differentiators & advantages of Nextance Contract Insight
- Automatic Notifications
Alerts and reminders of upcoming milestones, deadlines, and renewal dates are sent automatically based on recognizable upcoming date- and performance-based events.
Contracts, especially ones for highly complex products and services, can get quite long. Finding a specific clause or term can be time consuming, and customers and vendors can become frustrated when they need to wait for an answer, damaging your relationships. Not so with Nextance. A high powered and flexible search engine will quickly find the information you seek.
Nextance makes it easy for companies to track proactively the completion of events, milestones, and obligations.
- Workflow Management
Nextance enables companies to manage the most complex workflow process requirements with ease. Through robust and flexible workflow, companies achieve more efficient, consistent, and compliant contracts.
- Contract Reviews
Nextance tracks and sends notifications of upcoming contract reviews, whether required by regulatory policy, at the vendor’s request, or as needed for renewals or audits.
- Contract Status Tracking
Monitor renewal dates, termination dates, and amendments, enabling you to track and analyze the lifecycle status of your agreements. Achieving Business Insights The centralized online repository created by Nextance Contract Insight increases visibility of all of your agreements and significantly improves your ability to consistently execute on all contractual requirements.
A flexible online capability that provides a role-specific summary of your entire contract portfolio, with insight into where all pre-signature contracts are in the review and approval process, or a summary of all revenue to which you contractually for the coming month or quarter to improve accuracy of revenue forecasts.
- Report Builder
Create, schedule, and deliver relevant reports, providing in-depth analysis of contracts, suppliers, IP lifecycle, revenue, risk, commitments, impact of specific terms or clauses, compliance, performance, and all other information stored in your contracts.
Nextance has one of the most powerful search features in the industry. Quickly find high-risk terms across all of your agreements, business trends, and anything else contained in your contracts to give you the immediate insight you need to manage your business.
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