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Aircraft maker sprucing up buy-cum-sell side contract lanes

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Preeti
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PHILADELPHIA, USA: Revitas announced that a leading aircraft manufacturer has selected the Revitas Contract Manager solution, part of Revitas's suite of Enterprise Revenue Dynamics (ERD) solutions, to accelerate contract execution, gain increased visibility into its contracts, and support multiple lines of business across its global operations.

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The company will deploy the Revitas Contract Manager software to create a centralized contract repository for both supplier and customer contracts, as well as to accelerate its request for proposal (RFP) process as it seeks to enhance the efficiency of its buy-side and sell-side contracting. Through Revitas Professional Services and Revitas University, onsite and online training will also be provided to educate users on ERD best practices for optimizing contracts, pricing, and compliance, as added in the press note.

The company, a manufacturer of versatile and globally renowned aircraft, including defense aviation products for the U.S. government, needed an enterprise-class system that can handle the multiple languages and divisions of the global company.

As Gartner Research Vice President Deborah Wilson notes, "Supporting contract management with technology improves governance and obligation management, but also lays the groundwork for automated contract compliance."

Using the Revitas Contract Manager solution, the company can provide positive proof of compliance with the commercial terms and conditions of its contracts.

"Like many manufacturing and technology companies, this organization was seeking a more effective way to manage an increasingly complex global supply chain," said Al Smith, President and Chief Operating Officer at Revitas.