PHILADELPHIA--(BUSINESS WIRE)--Today iMANY, Inc. officially becomes Revitas, Inc. and announces the integration of its Enterprise Revenue Dynamics (ERD) solutions for the automation and management of contracts, pricing, and compliance through its scalable and standards-based Flex™ software platform. The company’s rebranding is designed to reflect a changing global supply chain, where contracts are viewed as a source of strategic advantage in driving revenue and mitigating risk.
It is estimated that businesses worldwide lose billions of dollars by mismanaging contracts, pricing, and compliance functions, which drive relationships with customers, partners, and vendors. Revitas’s ERD solution set integrates contracts, pricing, and compliance across the enterprise, improving business performance and enabling companies to:
- Close sales deals faster and improve bottom-line performance. Managing complex contracts over an extended lifecycle is full of compliance obstacles, particularly when executed apart from pricing considerations. By integrating contracts, pricing, and compliance on the Flex strategic platform, companies minimize the risk of accidental renewals while efficiently managing agreement milestones and ensuring compliance with commercial contract obligations.
- Increase profitability and improve organizational performance. Revitas empowers organizations to protect profit margins by breaking down the walls that limit contract integration and sharing key terms, obligations, and opportunities across the enterprise.
- Ensure, document, and report compliance. As financial, regulatory, and commercial compliance obligations increase, Revitas provides organizations in highly regulated and public markets an integrated platform to meet all requirements and provide positive proof of compliance. For instance, in the pharmaceutical and life sciences industries, Revitas offers the leading solution for complying with the new requirements of the Physician Payments Sunshine Act which go into effect this year.
“Sales teams face a universal pressure to close deals faster and more efficiently, even in the face of increased compliance requirements and competition,” says Peter Ostrow, VP/Group Director, Customer Management and Principal Analyst, Sales Effectiveness at the Aberdeen Group. “We see sales contract management solutions as a crucial tool in helping them address this major pain point, particularly when they help sellers of complex solutions or services integrate multiple products into one comprehensive offer.”
ERD impacts organizations on three key levels. Financially, ERD is increasingly important to CFOs eager to automate, monitor, and manage the revenue opportunities and prevent the margin erosion that is often obscured by the fragmented nature of contract creation and pricing execution. For sales and marketing teams, ERD enables a faster, more productive contracting process, resulting in more timely deal closures. For compliance officers, ERD establishes and documents compliance, not just for regulatory and legal requirements, but also for commercial commitments found within contracts.
“Our new brand, evolving market position, and innovative platform provide an enterprise-scale solution for optimizing the opportunities that complex contracts with multi-faceted pricing structures present to companies,” says Paul Winn, Chairman and CEO of Revitas. “Enterprise Revenue Dynamics is quickly transforming the way companies view, manage, and measure the relationship between pricing, contracts, and compliance while improving profitability and minimizing risk. Revitas is pioneering the industry with the only strategic platform that fully integrates these functions to optimize revenue opportunities and empower companies with greater visibility and control within their B2B relationships. Our solution set integrates with SAP, Oracle, and other enterprise systems, centralizing these business solutions into one complete platform.”
About Revitas
Revitas™, the leader in Enterprise Revenue Dynamics, delivers integrated solutions for contracts, pricing, and compliance that drive higher profitability and lower risk. Revitas empowers companies to optimize contract performance by defining, managing, and analyzing complex, multi-tier pricing incentives and enables positive proof of compliance with commercial, financial, and industry requirements. Powered by the secure, scalable, and standards-based Flex™ platform, Revitas applications speed time to market and improve visibility across B2B relationships. Hundreds of organizations across the most highly regulated and challenging industries leverage Revitas integrated solutions to save money, make money, and reduce risk. For details, visit www.revitasinc.com.