All Press Releases for October 21, 2020

LiquidSMARTS Announces The Launch of Tractus, a Powerful Solution That Puts The Contract as The Source of Truth to Lower The Costs, Time and Risks in Contracting

LiquidSMARTS℠, in conjunction with Stillpoint Software has developed a novel solution to drive efficiencies in the complete contract management life cycle reducing labor costs, time, and risk while improving accuracy, compliance and bottom-line.



Now with Tractus I have more insight to reality by which to mitigate risk and keep all teams involved and updated through the entire process" states Ed Staten, VP of Operations

    MINNEAPOLIS, MN, October 21, 2020 /24-7PressRelease/ -- In the area of modern contract performance management, data driven decision making is now the strategic advantage. However, there are many sizeable pain points and hidden risks in managing contracts that many companies do not recognize. In fact:

• Companies lose 10% of their bottom line through ineffective contract management
65% - average annual turnover percentage of contract administrators
$21,3000 - average cost of a mid-complexity contract
• 24 hours
- minimum time spent per contract & amendment
$100,000 - minimum cost per audit
$120,000 - vendor contract administration cost
30% of contracts lack a force majeure clause

TRACTUS Contracting Management System solves the complexity and challenges in the complete contact cycle from negotiation through renewal. Tractus links the insight hidden in contracts by making the data transparent and relevant to enable real time decision making for better outcomes. Innovation stems from deep analytics and a secure communication system for advanced collaboration.

By turning the data in contracts into actionable insight companies are empowered to be proactive in the following areas:

• Auto-renewal clause existence
• Auto-renewal dates
• Contract expiration dates
• Region of contractual governing law
• Indemnities
• Pricing (valuations)
• Payment terms
• Penalties
• Maximum liabilities

Tractus links the insight hidden in contracts by making the data transparent and relevant to enable real time decision making for better outcomes. It was developed by a team of industry experts with over 20 years of national accounts, contracts, and pricing.

For more information, contact Ed Staten at ed@liquidsmarts.com or visit www.liquidsmarts.com/TRACTUS or call (423) 702-4001.

ABOUT LIQUIDSMARTS
LiquidSMARTS℠, a Global Professional Services and Technology Company, focuses on reducing miscommunication, misalignment of resources, and discoordination of action in periods of rapid change. Avoiding these issues increases engagement and sales volume. Clients benefit from innovative assets and business processes including micro-learning services to impact and reinforce development and organizational success.

ABOUT STILLPOINT SOFTWARE
At Stillpoint Software, our mission is to address the B@B@C communication gap across all systems, devices to reach more people more effectively, both inside and outside the enterprise. Our communication platform drives relevance and innovation by orchestrating and measuring activities at enterprise scale; secure and synchronized, across every device. We simplify engagement with people inside and outside of your organization and the integrations with the systems and processes necessary to make those engagements meaningful.

For more information visit www.stilpointsoftware.net or call (520) 991-9424.

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Contact Information

Pete van Overwalle
LiquidSMARTS
Apison, TN
United States
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