Contract Management Software for Telecommunications Companies
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
How AI-powered CLM solves these key challenges:
Easy Negotiations
With data being gathered throughout the contract’s lifecycle, it is much easier to renegotiate the contracts
Intelligent self-service contracting
to help non-legal users to quickly generate sales, procurement, and other types of contracts
Track SLAs
and Minimum Annual Revenue Commitments (MARCs) with clients to monitor T&Cs for outages, revenue commitments, data usage, etc.
Gain complete visiblity
into the contract portfolio to ensure compliance, market-specific laws, ISO standards, data protection guidelines
Analysis of Invoice discrepancies
associated with all contracts to ensure correct payment and avoid revenue leakages
Monitor all contracts
for contractual obligations, service levels, milestones, renewal and expirations dates real-time
Integrations to fast-track business operations with Contract Management Software for Telecommunications Industry
AppXtend
Fetch raw material prices from third-party index and augment third-party supplier data provider
iRequest
Fast-track contract creation by originating contract initiation process directly from a sourcing event
Salesforce
Fast-track contract creation of sales contracts originating directly from the CRM