Prodagio Software was recognized as an outstanding software application provider because of their ability to enable high value contract management initiatives amid complex business environments for their industry-leading client organizations.
Houston, TX (PRWEB) November 01, 2012
Amid tough competition, Prodagio Software has received recognition as a finalist in IACCM’s prestigious Innovation Award for Outstanding Application Service Provider of 2012. According to a representative from IACCM, the judges faced an abnormally tough challenge this year picking a group of finalist for the 2012 award. The quality of the input far exceeded expectations set from previous years and the number of entries this year was equally impressive.
Prodagio Software was recognized as an outstanding application service provider because of their ability to enable high value contract management initiatives at client organizations. The winning entry from Prodagio highlighted an enterprise contract management rollout for one of the biggest media and entertainment companies in the world, and provided judges with a detailed view of the benefits achieved from Prodagio Contract. A full view of the entry can be seen below.
About the IACCM Innovation Award
The IACCM Innovation Award is the most prestigious award distributed by IACCM. It recognizes leaders in the community who are raising the profile of contract and commercial capability within their organization and across the industry. It was created to encourage innovation in contract and commercial practices. IACCM, the International Association for Contract and Commercial Management, is leading the way in contract management by educating professionals and leaders to implement best practices and governance of contractual commitments and trading relationships.
**Abbreviated Entry for the IACCM Innovation Award**
(Click here to view the full submission)
MEDIA & ENTERTAINMENT INDUSTRY LEADER GAINS CENTRALIZATION & CONTROL WITH PRODAGIO'S CONTRACT MANAGEMENT SOFTWARE SOLUTION
BUSINESS CHALLENGE – Create a Contract Asset Repository and Enable Further Process Standardization
As a leader in the Media, Entertainment and Movie industry, this well known company is often in the forefront of innovation. The practice of being early adopters of technology extends beyond the walls of movie or television sets and is implemented throughout its business units and offices around the globe. This organization relies heavily on the contracts that are executed for managing Production, Distribution Rights, and Talent, Writer and Producer Agreements.
So when the leaders at this company identified an immediate opportunity to use innovative technology to create one single system of reference for all contract data and documents they did not hesitate.
The team immediately began researching solutions that included a contract asset repository – which would increase visibility and allow them to dynamically manage critical contract events such as obligations, contracted terms, and renewals.
As a result of this implementation, the various contracting and legal teams using the system have immediately controlled access to critical contract information such as terms, expiration's, options:
- The Contract Asset Repository enables reporting and searches that were once cumbersome
- The contract creation has been further streamlined by leveraging templates and standard language
- Integration to external systems (such as Oracle) eliminates multi-system data entry
- A full audit trail provides continuity among contract management by tracking changes made to the contract/document, recording the user who made the change, and date/time stamping the items.
- Automatic reminders keep users current with obligations, contract/term reviews, and renewals. These proactive reminders insure that obligations aren’t missed.