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Master Agreements Leveraged with Help from Exari

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Master Agreements Leveraged with Help from Exari

October 07, 2013

  By Miguel Leiva-Gomez, TMCnet Contributor

Risk Management Solutions (RMS), a firm well-known for its catastrophe-modeling services, has just employed Exari's Intelligent Contract Management Software. With this new license, RMS will be able to automate the process of managing its master agreements, software licenses, software agreements, and any other contracts which it offers to its customers. Needless to say, RMS' legal team is probably breathing a sigh of relief right about now.

Thien Dinh, VP and deputy general counsel at RMS echoed this sentiment, saying, “Exari empowers the RMS team to better serve the revenue-generating side of the business by offering faster turnaround on sales contracts. We have an easier way to share templates, clauses, playbooks, and other know-how among our global legal team. In addition, we have increased visibility into key contract terms, risks, and potential process bottlenecks, which means we can uncover and address issues immediately.”

Intelligent contract management has become a strong trend among businesses that sell products that require complex contracts and/or licenses. It's a great solution for businesses whose legal teams must act quickly to satisfy inquiries from management and give them the scoop on contract terms and legal risks. Intelligent contract management also gives businesses an unprecedented ability to quickly get their products on the market without having to meddle with their contract drafts excessively.

What was once a painstaking process is now becoming less of a pervasive problem in the process of negotiating the licensing for a product, and now RMS is benefiting from this type of system. Intelligent contract management from Exari has advantages that make this process even simpler by extracting data from contract drafts to make unprecedented improvements on data quality that are not available in older systems. Exari has developed this CM solution as a result of its persistent investment in creating the most efficient and reliable document drafting solution on the planet. This technology later came to power the contract management solution's internal functions, to make it into one of the most intuitive of its class.

Edited by Rory J. Thompson
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