WHY CONTRACT ANALYTICS?

In today’s rapidly evolving business landscape, enterprises are increasingly relying on third-party suppliers, which brings added operational complexity and the need for robust contract management. While significant time and effort go into crafting third-party contracts, the rigor and precision required to manage these contracts effectively are often lacking. Without an efficient contract management process, enterprises can experience value leakage—up to 40% of the contract’s value.

Contract analytics is no longer just about cost management. It is a vital tool for driving key strategic objectives, including risk minimization, improved regulatory compliance, and enhanced speed to market.

REALIZING THE TRUE VALUE OF YOUR CONTRACTS

HEX ContractEdge is designed to help businesses manage the risks associated with third-party relationships while optimizing portfolio spending throughout the contract lifecycle. By leveraging advanced technology, HEX ContractEdge extracts key contractual terms and conditions in a structured format, then benchmarks them against contemporary market standards to identify optimization opportunities.

HEX ContractEdge takes contract management a step further by helping businesses uncover hidden risks and value opportunities. With its advanced analytical capabilities powered by AI, it provides actionable insights, ensuring that enterprises can extract maximum value from their contracts.

Active governance of contracts is key to ensuring that your enterprise derives the intended value from these agreements, and HEX ContractEdge ensures that you’re not only in compliance but actively optimizing and protecting your business interests.