WHY DOES AN ORGANISATION NEED CONTRACT INTELLIGENCE ? it comes to the likes of rationalising its portfolio or finding redundant services and software . Organisations can also drive greater efficiencies and cost savings , as well as mitigate risk .
“ So it ' s a combination of helping customers optimise cost and waste , but also providing the ability to reallocate that waste and spend on new innovative strategic projects instead .”
“ Contract management is one of the biggest challenges in the enterprise ,” says Card . “ Having thousands of agreements with thousands of suppliers hidden in emails , file storage or machines results in such large quantities of data with untapped potential .”
He adds : “ At Terzo , we try to unlock these insights by using AI to bring metadata into our platform , making it useful within minutes . In doing this , we help organisations manage their siloed data , reducing the risk of wrong payments and unnecessary spend .”
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