News - Ncontracts 5/18/2009 |
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FOR IMMEDIATE RELEASE |
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CONTACT:
Mary Pollman
615-400-9616
mpollman@pollmancommunications.comNetwork Contract Solutions, LLC
116 Wilson Pike Circle, Suite 204
Brentwood, TN 37027
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Ncontracts™ from Network Contract Solutions combines contract
management software with consultative set-up and paralegal services
May 18, 2009, Nashville, TN – Network Contract Solutions has introduced
Ncontracts™, a
hybrid service in the contract management field: a software solution that
includes paralegal
support to customize and implement the solution in the client’s environment. The
software-service
combination Ncontracts™ is designed for small to mid-sized companies.
Network Contract Solutions’ Chief Executive Officer Michael Berman said,
“Ncontracts™’ unique
benefit is that we not only offer a strong web-based vendor management
technology solution,
we have people – trained paralegals – who help set up the system to meet the
client’s needs.
It’s that human element, in an affordable package, that makes us different.”
Gaining control, cutting costs
As the US shifts from a manufacturing-based economy to a service-based economy,
services
between companies have proliferated. Berman said, “Many companies find they
outsource such
a variety of services and have so many vendor agreements, they can’t find the
information they
need in time to make informed decisions. Ncontracts™ lets them quickly make
informed
decisions and decrease their costs.”
According to a recent report by the Aberdeen Group, American companies incur
$153 billion a
year in extra costs due to ineffective contract management.
Paralegals set up the system for the client
Berman said, “Many companies understand that contract management software can be
valuable, but they don’t have the time or the expertise on staff to set it up
and make it work.
Most companies can’t hire the high-priced consultants that Fortune 500 companies
retain to do
this.”
He continued, “Ncontracts™ offers a unique solution, providing the software,
then using
paralegals to put the contracts into the system, extract the key dates, terms,
fees and penalties,
and then train the client on the ongoing use of the system.”
Ncontracts™ provides . . .
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A secure web-based document storage and retrieval solution.
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An organized central repository for contracts, prior drafts, attachments and
compliance
documents.
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Paralegal support to set up the system and train clients in its use.
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Email alerts so clients stay on top of payment schedules, renewals, and
automatic
increases.
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History tracking so modifications and addenda aren’t lost.
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Contract linking so related agreements can be tracked together.
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Analytical support and advanced reporting features, including ad-hoc report
creation.
Ncontracts™ is designed to help department-level managers and others with
financial
responsibility in the company keep track of contract documents and obligations.
Berman said,
“At the higher levels of the organization, managers gain visibility to the whole
constellation of
vendor relationships and can see where there are opportunities to eliminate
duplication or use
their leverage with vendors.”
Network Contract Solutions, LLC, based in Brentwood, Tennessee, was formed to
develop
business solutions that combine software and services. Its flagship product,
Ncontracts™,
combines a web-based contract management application with paralegal teams who
help clients
set up, organize and use the system. For more information, go to
www.ncontracts.com.
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