Manage Contracts & Compliance
Complete visibility into key contract data elements
Greater efficiency via digital workflows
Automated reminders for expiry and renewals
Collaborative authoring & Editing
Contract Repository
Create a single system of truth with a robust document library for contracts, amendments, and supplier documents. Manage & access contract documents with auto-indexing, enhanced search (using boolean, keyword & proximity search terms), OCR, and more.
Automated Renewal & Expiry Reminders
Never miss contract reviews, renewals & other essential dates across the contract lifecycle with automated reminders and notifications for key contract dates.
Contract Change Management
Automate the contract change management process by tracking the Change Impact records (such as new Expiry Date, Pricing elements or SLAs or Deliverables & Obligations) and automatically applying the changes to the various impacted elements.
Clause Library
Use enterprise-approved clause library including core and alternate clauses. Standardize contract language across the enterprise with pre-approved contract templates with the ability to create contract templates and update/maintain current versions of contract templates by category, upload the Templates created outside the platform, split the Template into unique, identifiable, comparable sections/clauses, and dynamically select a template based on user-defined rules or manually populated based on user input.
Contract Extraction, Analysis & NLP
Leverage the power of machine learning, artificial intelligence & extraction rules to extract metadata from contract documents, perform contract analysis, identify performance, compliance & financial data and update the same for ongoing governance of contracts across multiple suppliers. Automate the identification of documents types (MSA, NDA, SOW, etc.) & extraction of key terms, dates, deliverables & obligations, SLAs, etc. Create records and apply updates to existing SLAs, Pricing Records, Obligations, expiry dates, & contract values. It can also enable enterprises with the clause library populated with crucial contract clauses and contracts can be searched for such clauses. Furthermore, the data from the clause repository can auto-populate section fields in contract templates.
Collaborative Document Authoring/Editing
Effortlessly author contracts with MS Word integration, templates, and a robust clause library. Leverage wizard-based contract authoring as a self-service tool for contract creation from contract Templates, Clause Library, contract properties, and automated contract data from Enlighta. Gain visibility with comprehensive contract version tracking of Artifacts/Attachments associated with a contract.
Enlighta Spice Can Also Be used for
Third-Party Risk Management (TPRM)
- Design & Distribute Assessments
- Collect & Review Evidences
- Compliance Task Automation
- Risk Tracking & Mitigation
- Audits & Audit Findings
- Issue / Incident Management
Supplier Portal & Onboarding
Automation
- Supplier Master
- Vendor Profiles
- Hierarchy
- Onboarding Automation
- Compliance Screening (Sanctions & PEP)
- Supplier Contacts
- Supplier Feedback
- Communication
Supplier Performance Management
- Service Levels, Measures & KPIs
- Goals & Objectives
- Monthly Requests
- Self Reporting & Exceptions
- SLA Scorecards
- Issue / Incident Management
Governance & Compliance Management (Obligations Mgmt.)
- Deliverables & Obligations Management
- Automated Reminders
- Deliverable Approval
- QBRs, Meetings & Schedule Calender
- Action Items
- Issue / Incident Management
Supplier Financial Management
- Contract Value & Spend
- Contract Pricing
- Consumption Management
- Invoice Validation
- Savings / Benefits Tracker
Enlighta Solutions are used & trusted by Leading Enterprises
Used across 10s of thousands of suppliers & third parties and for well over $50B of spend by several F500 enterprises.
Learn how Enlighta Spice can help Streamline your ongoing compliance efforts
