Preferred Contract Lifecycle Management Software for Telecommunications Companies
30+ Real Estate Companies Trust Zycus enterprise CLM
Agile and compliant contracting for Telecommunications Enterprises
With telecommunications industry facing the rising investment needs and shrinking margins, improving efficiencies and boosting cost savings has been the top most priority for all the telecom enteprises.
The worldwide telecommunications business environment is accelerating which means contract negotiations are becoming increasingly important for the telecom industry. Telecom contracts are complex and purchasing decisions are increasingly becoming decentralized, flood of documentation such as orders, billing and customer care are exponentially increasing.
Key contract management challenges faced by telecommunications enterprises:
Managing multiple vendor contracts
leading to complexities of contract language and terms across the vendors
Many contractual moving parts
such as multiple currencies, varying financial and performance terms, different laws, and regulatory requirements
Fulfilling Compliance requirements
Federal Communications Commission (FCC), Foreign Corrupt Practices Act (FCPA), and data privacy regulations like GDPR
Monitoring contracts constantly
for contractual obligations, service levels, milestones, renewal and expirations