[September 03, 2015] |
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LG Electronics USA Selects Revitas for Contract Lifecycle Management in the Cloud
Revitas,
Inc., the leader in revenue acceleration, today announced that LG
Electronics USA has selected the Revitas®
Contract Manager™ and Revitas®
Analytics/Contract Explorer™ solutions for enterprise contract
lifecycle management (CLM) in the cloud.
LG plans to deploy Revitas Contract Manager to improve workflow and
increase visibility into contract data and performance for its U.S.
business areas, including consumer electronics, home appliances, mobile
communications, and air conditioning systems.
"We were looking for a CLM solution that could increase efficiency in
the contracting process, and Revitas matched our requirements with a
cloudsolution that offers deep insight into contract data, parallel
approval processes, and comprehensive reporting," said Richard Wingate,
Vice President and General Counsel at LG Electronics (News - Alert) USA. "As important
as the contract management and reporting functionalities of the software
are, Revitas's experienced and responsive professional services team
gave us the confidence to forge forward with this relationship."
LG had been using a homegrown solution to initiate contract requests and
store thousands of signed agreements, but its reporting capabilities
were somewhat limited. The company's legal, sales, and procurement teams
were seeking a comprehensive solution to replace manual approvals and
reporting, and provide visibility into the content and performance of
contracts to help ensure compliance. Revitas Contract Manager is a
robust, automated contract management solution that will scale with the
company's growth.
With Revitas Contract Manager, LG will benefit from a single,
centralized customer contract repository that is fully searchable and
auditable, allowing the company to easily identify and manage contract
terms and conditions. The solution's interactive dashboards and detailed
reporting functionality deliver advanced insight and real-time analysis
of contract administration and performance so the company can easily
review and report on important milestones, renewal dates, payment terms,
and other key metrics.
"LG sought to elevate its contract management processes with an
automated solution that would streamline and enhance its contract
management and reporting techniques," said Michael Kerman, Vice
President of Business Management at Revitas. "Revitas Contract Manager
provides on-demand information and insights about contract performance
so the company can extract maximum value from every agreement."
For more information about the Revitas Contract Manager and Analytics
solutions, please visit www.revitasinc.com.
About Revitas
Revitas helps organizations accelerate revenue through diverse,
multi-level sales channels by delivering enterprise-class solutions that
tailor channel and contract management to the needs of the business. For
over 25 years, Revitas has enabled companies in the most challenging,
channel-intensive industries to achieve best-in-class performance and
sustainable competitive advantage. Learn more about Revitas by visiting www.revitasinc.com
or www.revitasinc.com/blog.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150903006124/en/
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