The IT Service industry is facing challenges due to stringent compliance requirements to prevent privacy and data breaches and cybersecurity violations. Lack of visibility into SLAs drives poor customer service. Internet of Things has further enhanced the need to monitor newest security threats and keep up with the new compliance requirements.
Ultria CLM—Enterprise Contract Management Software—enables information technology and services organizations to streamline all contracting processes, reduce risks, and design a better compliance management framework:
- Track data comprehensively to ensure all compliance documents such as those for privacy and data breach laws like GDPR, and cybersecurity are valid.
- Leverage preapproved clause and template libraries to author error-free contracts with customers, resellers, and support and implementation partners for IT.
- Create, store, e-sign, and manage all contracts and SLAs within a searchable and secure repository.
- Gain visibility into contractual obligations and milestones to ensure adherence to the scope of work and meet delivery timelines and budgetary expectations.
- Track expiries and renewals of product licenses.
- Maintain an audit trail for all the changes made to a contract.
- Establish standardized workflows with multiple reviewers and approvers, as required.
- Generate reports to increase transparency.