A lack of visibility and availability
Revenue recognition, sales support and SLA processes slowed due to lack of visibility into key contract details
Multiple SharePoint and Excel spreadsheets attempt to track data
Analytics and reporting across critical customer data was not available
Organized data equals $2.5M in opportunities
Centralized and organized contract documents extracted for 18 million pieces of data
Provided access to 300+ users across eight departments
- Aligned external data (ERP, Account Management, etc.)
Streamlined core business processes (quarter close, support, etc.)
Enhanced effectiveness of legal department
Enabled account management team to identify $2.5M in revenue opportunities in first year
Improved decision-making across departments
"Pramata provided FICO with the real picture of our most complex client agreements. It is exciting to consider the possible opportunities to increase profitability and implement process improvements as we expand Pramata visibility throughout the organization."
- Tom Carretta, Vice President Legal and Associate General Counsel
FICO (NYSE:FICO) is a leading provider of credit scoring, decision management, fraud detection and credit risk score services.
Legal risk mitigation, finance effectiveness and sales productivity
FICO helps financial services companies make complex, high volume decisions. FICO engaged Pramata to help manage the complexity associated with thousands of customer contracts, applying new found insight into customer relationships to improve results across the legal, finance and sales teams.