Improve Productivity and Save Money with Data Management
Counselytics’ ability to identify material contracts and documents and extract relevant meta data for further analysis can save significant time in lieu of doing this exercise manually. While each contract review could cost an average of $75 per contract, Counselytics can perform that exercise at a fraction of this cost. That could result in a savings of hundreds of thousands of dollars across the organization.
- Save an average of $75 per contract review
Identify Procurement and Contract Savings Opportunities
Business Intelligence and insight into contracts can open the door to huge savings opportunities through better term negotiation, utilizing favorable contracts and renegotiating expiring contracts. Most organizations have very little ability to analyze 3rd party contracts in unstructured form. Counselytics Natural Language Processing capabilities can provide business insight within these contracts to ensure you are taking full advantage of your favorable terms. Ernst and Young estimates a savings opportunities of 5 to 15% on your total contract spend by taking advantage of contract data analysis.
- Respond quickly and efficiently to events such as M&A, audits and restructuring, etc.
Prepare for External Events – e.g. M&A, Audits, Restructuring
Events such as an acquisition, divestiture or regulation change usually involve a huge resource and cost outlay to deal with sensitive timeframes and aggressive deadlines. A large portion of this is committed to identifying and understanding all the liabilities and obligations associated with such events. A solution such as Counselytics makes this exercise economical and efficient by providing the ability analyze thousands of documents within the matter of minutes.
- Save thousands of dollars in information management and data entry costs