Epiphany: Maximizing Return on Contracts

As the enterprises are in search for next game-changing strategies to boost their finances, a potentially lucrative source of revenue—the contract management stares them in the face. An efficiently managed contract results in revenue gains from after sales activities such as services, maintenance, license renewals and extensions, and more. “The contract is the way for generating revenues from what have already been sold,” says Brenda Brinkley, President and CEO, Epiphany. However, achieving such a lucrative proposition is easier said than done. The contracts contain important details of enterprises’ services and products and customer agreements; a larger number of such contracts make it hard to track them. This is where Epiphany comes into the picture. The Cypress, TX based company helps enterprises move from paper or Excel based contract management to cloud-based solutions. “We automate contract management, making it simple and efficient. We ensure re that the contractual commitments are met, pricing and terms are optimized for better business gains and stronger customer relationships,” she adds.

Epiphany offers e-Contracts, an end-to-end contract management solution to effectively manage contract entitlements, usage, software licenses, warranty costs, and renewals, in turn boosting profitability. Whether it is a software company, service based business or a product reseller, who provides warranty and maintenance as the backbone of their service processes, e- Contracts connects various customer service and support activities into a single, integrated service lifecycle. The solution comes with contract dashboards offering a unified view of the entire contract portfolio, real-time contract KPIs, and contract lifecycle visibility. Its contract administration helps create contracts from sales orders, place multiple items on the contract, and easily update—add or delete them when needed—and maintains a case history from contract start to finish. e-Contracts’ contract renewals enable proactive renewal management, automated reminders, identifies upsell opportunities, co-terminates contracts, eliminates data reentry, and prevents revenue leakage. The contract accounting offers flexible billing schedules, improved billing accuracy, and fully integrated general ledger. “e-Contracts reduce the burden of contract administration ensuring each contract is profitable and maximizing the value of contract portfolio,” remarks Brinkley.