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LONDON, ENGLAND, January 27, 2010
/24-7PressRelease/ -- New features include automatically linking value of contracts to enterprise-wide spend data.
Rosslyn Analytics today launched RA.Pid Contract Management Module Version 2.0, a new generation of analytic applications designed specifically to help enterprises more efficiently monitor and manage supplier risks, compliance and business performance.
"Best-in-class enterprises understand the value of automated contract management systems as a means to centrally institutionalize systematic process for the creation, storage and analysis of contracts across business units regardless of geography," stated Charles Clark, CEO, Rosslyn Analytics. "Rosslyn Analytics is addressing a gap in the market, which our customers asked us to fill, by developing a new contract management module that seamlessly links contracts to a company's spend data, integrated from internal and external sources, into one shared dashboard for use by procurement and contract professionals."
The RA.Pid Contract Management Module Version 2.0 is available to all Rosslyn Analytics customers. The pre-built applications run on rapidintel.com, the industry's first and only web-based automated spend analytics (SaaS) platform that aggregates data from multiple sources, such as accounts payable, procurement, travel and procurement cards, into a single online view of all organizational spend. Organizations using rapidintel.com have consistently witnessed an ROI as quick as eight weeks.
Enhancements to RA.Pid Contract Management Module Version 2.0 include:
• Up and running in hours with no software or hardware installations
• Provide one drill-down dashboard of contracts linked to third-party data pertaining to market conditions and/or compliance such as supplier diversity
• Predictive modelling tools to forecast the "what if" value of future contracts
• More than 20 new ready-to-use reports and scorecards, i.e., savings tracker for monitoring rebates
• Real-time automatic triggers and alerting system based on dates and spend targets
"Recent press reports have highlighted how the recession forced companies into greater supply and market risks. Managing those risks has created an urgent need for integrated systems that provide superior management information. When operating in a vacuum, spend management becomes a source of business risk; the addition of contract analytics in today's fast-moving markets is not a nice-to-have, but a must-have," stated Tim Cummins, president and CEO, International Association for Contract & Commercial Management.
"Knowing when a spend milestone has been achieved, or when a rebate is due, or how much has been spent on a particular category with a particular supplier over a particular period will probably astound many customers," added Mr. Clark. "Powerful web-based automated spend analytics platforms are changing the economics of contract management by giving users powerful analytics necessary to better forecast liabilities and accruals, negotiate better contracts and control how discounts are to be spent."
About Rosslyn Analytics
Rosslyn Analytics is fast becoming the recognized leader in ROI-based spend analysis with the rapid adoption of rapidintel.com, an award-winning (SaaS) web-based automated spend analytics platform trusted by enterprises to accurately provide one collaborative view of company-wide spend intelligence without the need to install software or hardware. To learn more why organizations such as Aberdeen Asset Management, Clifford Chance and Rio Tinto rely on Rosslyn Analytics for the biggest cost savings, quickest return on investment and lowest cost of ownership than traditional spend analytics solutions, please visit
www.rosslynanalytics.com.
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Press Release Keywords:- spend analysis, contract management, spend management, procurement, contracts, finance, audit, technology, cloud computing, software as a service, saas, sourcing, supplier management, categorization, automated, rosslyn analytics, rapidintel.com, rapid, roi, cost savings, predictive analytics
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