The client, an asset-light transportation and logistics services company which serves the US energy exploration and production industry, also provides logistics services to the general commodities industry through its truck brokerage operation.
The organization was formed through a private equity-led roll-up of four competing transportation and logistics services companies. One year after the roll-up was completed, the business lacked an integration strategy. The troubled company, facing billing and settlement issues along with other financial and operational challenges, needed to reconcile its contract portfolio, standardize the language, provisions, and terms used in its contract documents, and ensure the right people had access to appropriate contract data to support a variety of business actions and activities.
Even for the most prepared teams, audits inevitably put a strain on day-today tasks and the deliverables list can be overwhelming. What’s the key to reducing audit stress and streamlining the audit process? Gaining visibility and control over your contracts. Why? Well, if you know where your contracts are, and you have transparency into the contract lifecycle, you have won half the battle.
Download this resource to explore the benefits a contract management system brings to an organization, and how those organizational benefits go hand-in-hand with fostering a smooth audit experience.
EXTEND Resources is a business and legal solutions company that provides services related tostrategic executive management, contract management, cybersecurity, eDiscovery, and other business outsourcing an dmanaged information processing needs.
Together with our clients, we:
- ENHANCE PRODUCTIVITY
- IMPROVE CONTROL
- CONTAIN COSTS
- BOOST OUTCOMES
Download our presentation to learn more about how we can help you.
Minimize Exposure. Maximize Value.
Business and legal solutions company specializing in:
- Contract management
- Other managed information processing services
Why EXTEND Resources?
With the right team and the right services, the possibilities for success are endless.
Our holistic approach to problem solving allows us to identify, connect, and enhance opportunities, delivering complete solutions that catalyze change, optimize results, and drive value across all areas of business. By partnering with EXTEND Resources, your organization can grow faster, operate more efficiently, and strengthen its data security.
People, Process & Technology: Defining the Optimal Mix to Improve Performance and Reduce Risk
Taking a holistic view of the way people, processes, and technology can efficiently work together enables business leaders to redesign their contract management process, thereby enhancing organizational efficiency and increasing the value contracts provide to their entire organization.
Organizations of all sizes face increased legal, financial, and performance risks when ineffective contract management processes remain in place.
Using expert resources and best-in-class tools, EXTEND Resources is your behind-the-scenes partner, deploying smart strategies and processes to minimize these risks and enhance the overall efficiency of contract management from creation to execution, storage to retrieval, and milestone tracking to reporting.
Research indicates that between 2013 to 2020, the digital universe will grow by a factor of 10 – from 4.4 trillion gigabytes to 44 trillion.
Currently, the amount of data across the globe doubles every two years. Growth is good – it is what businesses strive for every day. However, with business growth comes more data, more contracts, and more information to manage.
Combined with regulatory requirements, globalization, and an increase in contract complexity, this growth has propelled the importance of an effective contract management process to the forefront of today’s business environment.
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