Founded by Microsoft technology experts, Optimus BT utilizes metadata and cloud-based NoSQL architecture for effective contract management. Optimus BT leverages Microsoft Azure and inbuilt XML-based, scalable workflow engine to power its ECM platform. eContracts—the contract lifecycle management software available on both Office 365 and SharePoint—is a part of Optimus’ ECM platform. In addition to retaining customer documents in the SharePoint infrastructure, eContracts enables tracking of contract management lifecycle from drafting to review process, and involves electronic signature capabilities for smooth workflow management. “Based on workflow templates for reviews, ad hoc workflows, and configuration screens as opposed to code—our ECM platform can be configured on the fly. It is more of a plug and play,” highlights Prabhala. The company also excels in bringing the contract lifecycle management process to SharePoint— in both on premise and cloud environments. The clients can manage contract lifecycle in the SharePoint environment without disrupting their current workflow. The company plans to augment its ECM prowess by allowing configuration of governance and workflow differently for sales and contracts using individual dashboards.
Based on workflow templates for reviews, ad hoc workflows, and configuration screens as opposed to code—our ECM platform can be configured on the fly
The value proposition provided by Optimus BT has won the attention of several legal teams at the enterprise level in the pharmaceutical, biotechnology, and financial sector companies. A large financial service management company that funded different projects of enterprises, faced challenges in managing its legalities. Visibility of the contractual relations and obligations held by the company with all its customers emerged as a major pain point, which intensified further as the company engaged with clients across the globe. As the company began to look for solutions, Optimus’ eContracts proved to be the best fit. Optimus put in place a contract management system that helped the client manage all contracts and legal entities through a single module. The contracts could be reviewed and optimized across different units for visibility.
With the aim to improve business relationship management through ECM, Optimus plans to increase investments in R&D to expand their product line. The company intends to leverage Artificial Intelligence to automatically bring contract data into the systems and implement analytics to enhance legal and document management capabilities. A contract analytics hub to integrate enterprise data into the contract management system for improving visualization around enterprise contracts and spend analytics is also on the Optimus’ itinerary.