Pramata Shares Its Top 3 Legal Predictions with the ABA Journal
Today’s contract AI solutions will enable modern-day legal teams to focus on big picture strategies and leverage contract data as the business-critical asset it is.
PRAMATA FOR FINANCE TEAMS
Capture every opportunity for cost-savings and find more revenue
Pramata allows you to understand and manage your financial commitments with a clear view into all your contract-based costs and revenue commitments.
Common Finance Pain Points
- challenge
Revenue Leakage and Unrealized Revenue Impact Profitability
Finance teams struggle to ensure money is being spent wisely and all possible revenue is being captured. Your company’s contracts hold the key to solving both issues, but not if they’re disorganized and spread across various locations.
- SOLUTION
Use Contract AI to Identify and Correct Revenue Leakage
With every contract organized and accessible within Pramata, Finance teams can do the (previously) impossible:
- Find overlapping vendors and services
- Spot contracts that entitle the company to price increases
- Compare invoices with revenue actually collected
- Compare customer purchase commitments to actual spend
- and much more
- challenge
M&A and Divestitures are Complex, Slow and Risky
Mergers and divestitures can drag on for months or even years, which brings about business issues like operational delays, missed revenue opportunities and compliance risk.
- SOLUTION
Accelerate Integration & Divestiture with Pramata
Pramata’s platform transforms the traditional M&A process into a simple and smooth experience through a suite of tools leveraging our enterprise-grade Contract AI. Using Pramata, organizations can stand up deal rooms, assign and terminate contracts, find vendor and customer overlap, identify non-standard terms in every contract and much more – all with just a few clicks.
- challenge
Inability to Identify and Manage Compliance and Non-Standard Language in Contracts
Combing through thousands of pages of contracts to locate sections affected by ever-changing regulations is time consuming at best and impossible at worst. The same is true for finding and addressing non-standard contract language that leaves the company open to financial risk.
- SOLUTION
Use Contract AI to Automate Compliance Monitoring and Reporting
Pramata’s enterprise-grade Contract AI allows finance teams to quickly scan all contracts to identify those impacted by changes to regulations and other areas of exposure. Once identified, it’s easy to generate and share reports, draft amendments to address non-compliance and even update contract templates with your preferred language.
Why Finance Teams Love Pramata
Centralized contract visibility
With your contracts organized in a centralized digital repository, time-consuming searches are a thing of the past. Instead, you have the ability to get answers to your finance-related contract questions, in seconds.
Stop Revenue Leakage
Organized, searchable and most importantly, accurate contract data at your fingertips means it’s easy to spot duplicate vendors, overpayments, or penalties you shouldn’t be paying (and so much more!).
Capture More Revenue
Your contracts may entitle your business to more revenue than you’re getting. Pramata makes it easy to quickly find contracts with annual price uplifts, unrealized vendor discounts, uncaptured SLA penalties and more.
“We can now check whether a customer’s annual purchase commitment is on track to be met by the end of the year. This alone has enabled the company to recapture millions of dollars in revenue.”
VP, Accounting & Controllership 
On the Blog...
Legal Leaders: Want to Get Recognized for More Across the Business?
From solo general counsels to heads of large legal teams, the role of “Legal” is changing. The value Legal brings to an organization isn’t simply in its ability to negotiate contracts – although that’s still extremely important – but true legal “leaders” bring so much more to the table.
What we Learned at the ACC Annual Meeting: It’s Time for Legal Leaders to Start Thinking Big Picture
Pramata’s Chief Revenue Officer shares his biggest takeaways from the 2024 Association of Corporate Counsel National Meeting.
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