PRINCETON, NJ, July 24, 2014 – Zycus, a world leader in procurement technology solutions across the source-to-pay cycle, announced today a major new release and complete makeover of its Contract Management / iContract Authoring solution.
Advanced enterprise global procurement organizations use contract authoring solutions to:
- Collaborate globally with legal, risk, finance and other functions in writing, negotiating, gathering signoffs and approvals and executing final contracts with suppliers.
- Ensure consistent use of standard, favourable legal clauses, protections, preferred payment terms and so forth.
- Manage variability across business units, legal entities, borders and legal systems.
- Document all post-award negotiations that take place with suppliers regarding commercial terms and conditions, performance obligations, conditions triggering renegotiation or cancellation and so forth.
Zycus’ new iContract Authoring release represents a complete makeover of the solution’s embedded process and features the next level of usability improvements. Key new features include a one-glance contract summary page aggregating contract metadata along with:
- Summaries and access points to user-relevant contract content sections.
- A complete contract outline.
- Attached documents.
- Progress to specific milestones.
- Complete version history.
- Review, negotiation and approval/signoff workflows.
Solution performance and user interface (UI) improvements include: a 50% reduction in contract load time; reductions in user clicks needed for contract viewing; new navigation enabling easy access to all content irrespective of contract stage; a smooth drag and drop interface for rearranging contract clauses and sections; personalized reminders to complete contract and clause reviews, and abilities for multiple reviewers to add personal comments.
Zycus’ new iContract Authoring release represents a complete makeover of the solution’s embedded process and features the next level of usability improvements. Key new features include a one-glance contract summary page aggregating contract metadata.
“There is nothing simple about writing and executing strong, favourable and risk-minimizing legal contracts with suppliers,” observes Zycus CEO and founder Aatish Dedhia. “Many parties need to be involved, and the complexities multiply rapidly when one begins contracting at enterprise levels – across locations, strategic business units (which are often distinct legal entities) and across global regions and sovereign borders. While there are many solution providers who attempt to enable and automate portions of this highly complex business process, there are none as intrepid as Zycus when it comes to continually seeking ways to offer robust functionality that is easy to use and constantly mindful of user experiences. Our secret sauce is that we listen to customers – not just one or two of the largest, but every unique user who takes time to provide us with feedback. We are also committed to serving the procurement, sourcing and supply management functions exclusively and do not hesitate to invest in either specific or holistic improvements. Our new iContract Authoring release testifies to this commitment.”
Manager- Public Relations, Zycus Inc.
Direct: 1 866 563 9219