BRISBANE, Calif., Sept. 19, 2017 (GLOBE NEWSWIRE) -- Pramata, the leading Commercial Relationship Operations (CRO) company, today announced the Pramata Quick Start program for IBM Emptoris customers in the wake of the Emptoris end-of-life announcement. Now Emptoris customers can quickly replace their current contract lifecycle management (CLM) system with Pramata’s CRO solution, which is used by leading companies such as CenturyLink, Comcast Business, FICO, Hewlett Packard Enterprise (HPE), and NCR. In addition, all Emptoris customers are immediately eligible for a free one-hour consultation from an Emptoris expert (and former Emptoris consultant) to guide them through the process.
The Quick Start Program includes the transition and migration of up to 10,000 contracts to the Pramata platform, with training and minimal effort from Emptoris customers during the eight-week process.
"Emptoris customers have often had to wait more than a year for digitization and migration of 10,000 contracts. And then, they never achieved the visibility into commercial relationships that they needed and were promised," said Lloyd Alexander, Vice President of Strategic Solutions for Pramata. "We’re confident Emptoris customers will find Pramata’s solution compelling because, for one, they will never have to enter metadata into the contract management system. Plus, they will get a full, 360-degree view of the details of their commercial relationships and will be able to view actionable insights that will uncover potential risks as well as revenue opportunities."
Easing the daunting contract migration process
Moving to another vendor can be painful, expensive and time-consuming. The Pramata Quick Start Program provides a cost-effective path for Emptoris customers to easily migrate to a modern platform. Unlike traditional software companies that give you a set of tools and ask you and your team to enter and manage the data, Pramata actually embeds the data you need into the software with near perfect accuracy. Pramata customers never have to enter existing data into the platform and find that they finally have the visibility into their commercial relationships that they’ve been seeking for years.
Pramata provides full visibility into commercial relationship contract data, such as price increases, renewals, non-standard terms, purchase commitments and more. With a one source of truth system of record that provides full visibility, Emptoris customers can avoid losing more time and money searching for alternative solutions. Instead they can effectively manage contracts and better execute their business strategies.
Added Benefit: Revenue Recognition Compliance
Pramata’s CRO platform can help enterprises struggling with new rules and regulations like IFRS15 and ASC606 (Revenue from Contracts with Customers). A key influencer on how to recognize revenue lies within the structure of your complex customer contracts and that data being accurate. Getting and keeping a handle on revenue recognition best practices is dramatically improved when you understand your commercial relationships. Read more in our new ePaper “The Road to Improving Revenue Recognition.”
Are you an Emptoris customer?
If you are an Emptoris customer and would like to learn how the Pramata Quick Start program can benefit your organization, please attend our webinar on September 28, or contact us at info@pramata.com to schedule your free one-hour consultation.
About Pramata
Pramata operationalizes the details of commercial relationships so large organizations can maximize revenue, reduce risk and drive business efficiencies. Pramata has created millions of dollars in value for some of the largest companies in the world, including Allergan, CenturyLink, Comcast Business, FICO, HPE, NCR, Novelis and Vertafore. Pramata is headquartered in Brisbane, Calif., with offices in Kansas City, MO, and Bangalore, India. For more information please visit: www.pramata.com.