Action Tech Expands BPM Suite

05/17/2004

Action Technologies, a software firm specializing in Business Process Management, today announced the release of a new module that extends the functionality of the company's award-winning ActionWorks BPM software suite. Action says, “ActionWorks Contract Life Cycle Manager reduces transaction costs and risks by automating all aspects of contract development and execution, including formulation, negotiation, documentation, fulfillment, monitoring and enforcement.”



The vendor supplied the following details:

Typically, less than a quarter of a company’s transactions, governed by complex contracts, represent 75% of the total economic value of all operations. Many corporations have a few large contracts with major partners or accounts that represent a large proportion of their anticipated revenues—and liabilities. Managing these important contracts can create many opportunities for errors that can lead to missed business opportunities and lost revenues.

"Unfortunately, many companies sign contracts and think that their job is finished," according to Bill Welty, CEO of Action Technologies. "Organizations often forget that monitoring is a critical aspect of contract management, but this phase is often ignored or treated in a haphazard manner. The end result is that terms are not successfully fulfilled, and companies lose revenue opportunities."

Based on Action Technologies' patented Business Interaction Model, ActionWorks Contract Life Cycle Manager coordinates preparation and negotiation of commitments, identifies where action is needed, records offers and counteroffers, and manages all documentation. The module then tracks, monitors, and manages all commitments - whether conditional, event-driven or date-driven - and automatically notifies the appropriate parties whenever action is necessary. Only after all relevant parties accept work is it considered complete.

ActionWorks Contract Manager creates tangible business benefits for users:

--Ensures that organizations receive the goods, services, and compensation they expect

--Ensures that organizations deliver the goods, services, and compensation they have committed to provide

--Optimizes transaction costs, increasing the overall productivity of the team responsible for developing, managing, delivering, and tracking these contracts by 55%

--Minimizes and mitigates risk by up to 80%

--Increases customer and supplier satisfaction and trust

--Ensures alignment with company contracting policies and best practices

  • Subscribe Newsletter
  • Contribute
Subscribe to ebizQ:

Enter your email address:

 Subscribe Blog Updates via RSS

 Subscribe News via RSS

ebizQ is very interested in what you have to say. To contribute an article, an opinion, or to become a blogger, please contact Peter Schooff.

  • Virtual Conferences
  • Webinars
  • Roundtables

SOA Cloud Qcamp

June 3, 2009

One of the most compelling trends in the enterprise business technology space over the past year has been the emergence of cloud computing. In ebizQ’s upcoming Qcamp virtual un-conference, leading industry experts and practitioners will explore the role of service-oriented architecture (SOA) and business process management (BPM) in supporting cloud-computing initiatives. Additionally, the new skills that developers and IT managers need for successful cloud development will be discussed.Register

View All Virtual Conferences

Smart Case Management: Why It's So Smart.

Date:Nov 05, 2009
Time:12:00 PM ET- (17:00 GMT)

REGISTER TODAY!

Date:Oct 29, 2009
Time:15:00 PM ET- (19:00 GMT)

REGISTER TODAY!
View All Roundtables
  • White Papers
  • Podcasts
  • Blogs

Joe McKendrick: Part II of II: Designing Evolve-ability into SOA and IT Systems

In part two of Joe McKendrick's recent podcast with Miko Matsumura, chief strategist for Software AG, they talk about how SOA and IT systems need to change and grow and adapt with the organization around it.

Listen Now

Phil Wainewright: Helping Brands Engage with Social Media

Phil Wainewright interviews David Vap, VP of products at RightNow Technologies, and finds out how sharing best practices can help businesses understand how best to engage with online communities.

Listen Now

Peter Schooff: Making Every IT Dollar Result in a Desired Business Outcome: Scott Hebner of IBM Rati

Scott Hebner, Vice President of Marketing and Strategy for IBM Rational, discusses a topic on the top of every company's mind today: getting the most from IT investments.

Listen Now

Jessica Ann Mola: Where Will BI Fit In? Lyndsay Wise Explains

In BI, this tough economy and the increasing role of Web 2.0 and MDM are certainly topics on people's minds today. WiseAnalytics' Lyndsay Wise addresses each of them in this informative podcast.

Listen Now

Dennis Byron: Talking with...Deepak Singh of BPM Provider Adeptia

Deepak Singh, President and CTO of Adeptia, joins ebizQ's Dennis Byron in a podcast that gets its hand around the trend of industry-specific BPM.

Listen Now
More Podcasts
  • Most Read
  • Quick Guide
  • Most Discussed

Quick Guide: What is BPM?

Learn More

Quick Guide: What is Event Processing?

Smart event processing can help your company run smarter and faster. This comprehensive guide helps you research the basics of complex event processing (CEP) and learn how to get started on the right foot with your CEP project using EDA, RFID, SOA, SCADA and other relevant technologies. Learn More

Quick Guide: What is Enterprise 2.0?

A lot of people are talking about Enterprise 2.0 as being the business application of Web 2.0 technology. However, there's still some debate on exactly what this technology entails, how it applies to today's business models, and which components bring true value. Some use the term Enterprise 2.0 exclusively to describe the use of social networking technologies in the enterprise, while others use it to describe a web economy platform, or the technological framework behind such a platform. Still others say that Enterprise 2.0 is all of these things. Learn More