NEW YORK, NY--(Marketwired - September 12, 2016) - Infor, a leading provider of beautiful business applications specialized by industry and built for the cloud, today announced the availability of Infor Contract Lifecycle Management (CLM), transforming the way organizations manage risk associated with contract development. Part of the Infor Customer Experience Suite, Infor CLM can help organizations improve the creation, negotiation, execution, and management of contracts throughout their development, controlling details at each step of the contracting process and making it easier for internal and external stakeholders to collaborate. The application treats specific key terms, conditions, and clauses as attributes and provides insights on those elements, making the process run smoothly, and ultimately boosting customer loyalty.
Organizations often create a new contract by copying a fully negotiated one over and editing it to create something new, which can cause inconsistencies between documents and unintended inclusions of terms, conditions, and clauses that may not be applicable. In addition, manually handling the contracting process introduces significant risks, as contractual commitments can be made with no visibility or tracking, and approvals and documentation of negotiations can easily become buried in e-mails. By doing away with a document-centric approach and incorporating an intuitive user experience design, Infor CLM accelerates and streamlines enterprise contract processes, helping to shorten sales cycles while also generating context-rich analytics to help manage risk and optimize performance.
Infor CLM allows users to define and manage attributes to help ensure corporate compliance, while also tracking changes from version to version. In addition, the analytics-pricing engine in Infor CLM allows users to automate pricing, costing, and margin calculations to help accuracy and visibility. Organizations can track values, monitor dates and commitments, and set up alerts and notifications to help make the management of each contract post-execution more efficient. To help improve decision-making, users can also draw comparisons to similar contracts, which delivers insights that go beyond the contract that is currently in development.
"Contractual negotiations play a critical role during the sales process and by removing the friction that's inherent to this process and adding clarity to commercial terms and conditions, users can accelerate the sales process and maintain healthy, long-term relationships with customers," said Jason Rushforth, vice president and group manager, Infor Customer Experience. "Infor has fundamentally re-thought how contracts are created, stored, and managed to help address the challenges we've learned about from our customers. With Infor CLM, organizations can deliver on contract obligations as promised, optimize deal value, have more insight into the negotiation process and act more proactively."
For more information please visit http://www.infor.com/solutions/customer-experience/.
Infor builds beautiful business applications with last mile functionality and scientific insights for select industries delivered as a cloud service. With 14,000 employees and customers in more than 200 countries and territories, Infor automates critical processes for industries including healthcare, manufacturing, fashion, wholesale distribution, hospitality, retail, and public sector. Infor software helps eliminate the need for costly customization through embedded deep industry domain expertise. Headquartered in New York City, Infor is also home to one of the largest creative agencies in Manhattan, Hook & Loop, focused on delivering a user experience that is fun and engaging. Infor deploys its cloud applications primarily on the Amazon Web Services cloud and open source platforms. To learn more about Infor, please visit www.infor.com.
Infor customers include:
- 18 of the top 20 aerospace companies
- 8 of the top 10 high tech companies
- 10 of the top 10 pharmaceutical companies
- 22 of the 25 largest U.S. healthcare delivery networks
- 20 of the 20 largest U.S. cities
- 20 of the top 20 automotive suppliers
- 19 of the top 20 industrial distributors
- 18 of the top 20 global retailers
- 4 of the top 5 brewers
- 19 of the top 20 global banks
- 10 of the 10 largest global hotel brands
- 6 of the top 10 global luxury brands
This announcement reflects the direction Infor may take with regard to the specific product(s) described herein, all of which is subject to change by Infor in its sole discretion, with or without notice to you. This announcement is not a commitment to you in any way and you should not rely on this document or any of its content in making any decision. Infor is not committing to develop or deliver any specified enhancement, upgrade, product or functionality, even if such is described in this announcement and even if such description is accompanied by words such as "anticipate," "believe," "expect," "intend," "may," "plan," "project," "predict," "should," "will," and/or similar expressions. Many factors can affect Infor's product development plans and the nature, content and timing of future product releases, all of which remain in the sole discretion of Infor. This announcement, in whole or in part, may not be incorporated into any contractual agreement with Infor or its subsidiaries or affiliates. Infor expressly disclaims any liability with respect to this announcement.