MRO Magazine

LG Electronics USA Selects Revitas for Contract Lifecycle Management in the Cloud


September 3, 2015
By Business Wire News

PHILADELPHIA

Revitas, Inc., the leader in revenue acceleration, today announced that LG Electronics USA has selected the Revitas® Contract Manager and Revitas® Analytics/Contract Explorer™ solutions for enterprise contract lifecycle management (CLM) in the cloud.

LG plans to deploy Revitas Contract Manager to improve workflow and increase visibility into contract data and performance for its U.S. business areas, including consumer electronics, home appliances, mobile communications, and air conditioning systems.

“We were looking for a CLM solution that could increase efficiency in the contracting process, and Revitas matched our requirements with a cloud solution that offers deep insight into contract data, parallel approval processes, and comprehensive reporting,” said Richard Wingate, Vice President and General Counsel at LG Electronics USA. “As important as the contract management and reporting functionalities of the software are, Revitas’s experienced and responsive professional services team gave us the confidence to forge forward with this relationship.”

LG had been using a homegrown solution to initiate contract requests and store thousands of signed agreements, but its reporting capabilities were somewhat limited. The company’s legal, sales, and procurement teams were seeking a comprehensive solution to replace manual approvals and reporting, and provide visibility into the content and performance of contracts to help ensure compliance. Revitas Contract Manager is a robust, automated contract management solution that will scale with the company’s growth.

With Revitas Contract Manager, LG will benefit from a single, centralized customer contract repository that is fully searchable and auditable, allowing the company to easily identify and manage contract terms and conditions. The solution’s interactive dashboards and detailed reporting functionality deliver advanced insight and real-time analysis of contract administration and performance so the company can easily review and report on important milestones, renewal dates, payment terms, and other key metrics.

“LG sought to elevate its contract management processes with an automated solution that would streamline and enhance its contract management and reporting techniques,” said Michael Kerman, Vice President of Business Management at Revitas. “Revitas Contract Manager provides on-demand information and insights about contract performance so the company can extract maximum value from every agreement.”

For more information about the Revitas Contract Manager and Analytics solutions, please visit www.revitasinc.com.

About Revitas

Revitas helps organizations accelerate revenue through diverse, multi-level sales channels by delivering enterprise-class solutions that tailor channel and contract management to the needs of the business. For over 25 years, Revitas has enabled companies in the most challenging, channel-intensive industries to achieve best-in-class performance and sustainable competitive advantage. Learn more about Revitas by visiting www.revitasinc.com or www.revitasinc.com/blog.

Revitas, Inc.
Press contact:
Denise DiMeglio, 610-228-2102
Denise@GregoryFCA.com