Your contracts, simplified
Recent Customer Successes using our Contract Intelligence Service
Technology Company:
- 80,000 Employees
- Revenues $51bn
- Tail Spend $60m
- Saved $4.8m
Manufacturing:
- 143,00 Employees across 50 countries
- Revenues $25bn
- Contract portfolio $420m
- Saved $7.1m
Global Bank:
- 150,000 Employees across 52 countries
- Revenues £50bn
- Contract portfolio $60m
- Saved $12.2m
Outcomes:
- Never miss a renewal
- Fully searchable contracts
- Complete tail spend visibility
- Complete contract portfolio visibility
- Contract consolidation and rationalization
- Improved contractual terms and conditions
- Enhanced Mergers and Acquisitions process
More visibility, less time-wasting
Perhaps your contract review processes are eating up your time. Or you’re struggling to manage the complexity of the contract lifecycle.
With Contract Intelligence, you have complete visibility, full searchability, and predictive analytics to improve how you manage and optimize your contract portfolio. Our service includes analysis of all key contract clauses, contract consolidation, and cost containment and reduction.
Complete visibility A new approach to contracts and entitlements
Simplifying the contract review process means improving visibility of your contracts, and that’s where we can help.
Our Contract Intelligence solution helps you manage your contracts and entitlements by offering complete visibility, full searchability, and predictive analytics to improve how you manage and optimize your contract portfolio.
Enhanced insights Bring power to your data
Gaining visibility is one thing, but turning that noise into meaningful data is just as vital. Contract Intelligence is our data acquisition and analysis platform for single service customers. Delivered through Livingstone’s Acuity data platform, providing accessible insights across on-prem deployments and SaaS & Cloud usage, leaving you to manage your contract portfolio with confidence.
Commercial optimization Don’t spend more than you have to
No one wants to spend more than they have to, which is why we’re here to drive cost savings across your entire contract portfolio. We’ll analyze your pricing and commercial terms to unearth consolidation opportunities and identify different pricing models across multiple contracts to harmonize your contracts.
We’ll then pinpoint providers to consolidate, increasing your buying power and simplifying the contracting process, and deliver an accurate data baseline to help you budget and forecast more accurately.
Streamlined contract estate Digitize your contracts in hours
Extracting key contractual terms and obligations takes weeks of laborious manual reading and data entry.
Thankfully, Livingstone uses Optical Character Recognition and Artificial Intelligence to digitize your contracts and lay out the key details of every contract in plain English. The speed at which you can have visibility on your contract estate is unprecedented, with thousands of contracts digitized in hours.
Comprehensive support Take advantage of Livingstone’s expertise
Contract portfolios quickly spiral out of control if you don’t keep an eye on them. That’s why our team will always be on the lookout for potential gaps, risks and opportunities across your contract portfolio.
To help you manage your renewals more easily, we’ll improve your processes with ongoing digitisation and procurement support. We also save you money with recommendations for future contractual terms, price benchmarking and negotiation support for your largest and most complex contracts.
FAQs
What is software contract intelligence?
Software contract intelligence is the process of turning software agreements, entitlements, and commercial terms into structured information that can be searched and analyzed. It helps organizations identify renewal obligations, contractual risks, purchasing duplication, and opportunities to reduce software spend.
How can AI be used to analyze software contracts?
AI can help extract and organize important information from software contracts, such as renewal dates, licence entitlements, commercial terms and contractual clauses. This can make large contract estates easier to search and analyze, while specialist review remains important where contractual interpretation affects commercial or licensing decisions.
How can contract intelligence reduce software costs?
Contract intelligence can reduce costs by identifying duplicate agreements, fragmented purchasing, unnecessary renewals, inconsistent pricing and opportunities to consolidate contracts. It also helps procurement teams identify important dates and commercial terms earlier in the renewal cycle.
What information should be extracted from software contracts?
Useful software contract data can include vendor, products, licence metrics, entitlements, pricing, discounts, renewal dates, termination provisions, audit rights and other important contractual clauses. Structuring this information creates a more accessible view of the organization’s contractual software estate.
Can contract intelligence help with software renewals?
Yes. Contract intelligence gives procurement teams earlier visibility of upcoming renewals and the terms already agreed with a vendor. This creates more time to assess requirements, consolidate contracts, identify negotiation opportunities, and avoid unnecessary automatic renewals.
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