Rosslyn Analytics has launched RA.Pid Contract Management Module Version 2.0, an analytic application designed to help enterprises monitor and manage supplier risks, compliance and business performance.
Rosslyn said that the pre-built applications run on rapidintel.com, a web-based automated spend analytics (SaaS) platform that aggregates data from multiple sources such as accounts payable, procurement, travel and procurement cards, into a single online view of all organisational spend.
According to Rosslyn, the enhancements in the new version include, real-time automatic triggers and alerting system based on dates and spend targets; more than 20 new ready-to-use reports and scorecards; predictive modelling tools to forecast the ‘what if’ value of future contracts; and a one drill-down dashboard of contracts linked to third-party data pertaining to market conditions and/or compliance such as supplier diversity.
Charles Clark, CEO of Rosslyn Analytics, said: “Rosslyn Analytics is addressing a gap in the market, which our customers asked us to fill, by developing a new contract management module that seamlessly links contracts to a company’s spend data, integrated from internal and external sources, into one shared dashboard for use by procurement and contract professionals.
“Knowing when a spend milestone has been achieved, or when a rebate is due, or how much has been spent on a particular category with a particular supplier over a particular period will probably astound many customers. Powerful web-based automated spend analytics platforms are changing the economics of contract management by giving users powerful analytics necessary to better forecast liabilities and accruals, negotiate better contracts and control how discounts are to be spent.”