Leading American Financial Institution Chooses Determine's Innovative Contract Lifecycle Management Solution
SAN MATEO, CA--(Marketwired - May 16, 2016) - Determine (NASDAQ: DTRM), a leading global provider of SaaS Source to Pay and Enterprise Contract Lifecycle Management solutions, offered through the Determine Cloud Platform, which includes strategic sourcing, supplier management, contract management, and procure-to-pay applications, announced that one of the nation's top 10 largest bank holding companies has selected Determine Contract Lifecycle Management (CLM) as the solution to manage their contracting needs.
Determine's CLM solution streamlines the entire contract lifecycle, from contract request, authoring, negotiation, and approval, through contract execution, amendment, and renewal. The solution provides an enterprise view of contracts and comprehensive reporting capabilities which will allow this global financial services company to automate their ongoing supervision of contractual relationships by consolidating and maintaining accurate contract data, while also minimizing risk and improving compliance.
The customer's contract management solution selection process consisted of a rigorous evaluation of solutions from multiple vendors in the contract management space. The combined complexity of their agreements and stringent banking regulations necessitated a solution which was much more robust than their previous application. The customer ultimately decided in favor of Determine's solution based on several key business criteria, including; the flexibility of its authoring tools, the highly configurable nature of the system, and the ability to ensure compliance and governmental scrutiny.
"Leading financial companies are choosing Determine Enterprise Contract Lifecycle Management because of the bottom-line impact we have on their business." said Patrick Stakenas, President and CEO Determine, Inc.
"More and more financial services companies are putting enterprise contract lifecycle management solutions at the top of their agendas to significantly drive cost savings and compliance, increase revenue generation, and manage risk."
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About Determine, Inc.
Determine (NASDAQ: DTRM) is a leading global provider of SaaS Source to Pay and Enterprise Contract Lifecycle Management (ECLM) solutions. Our Gartner recognized visionary technologies allow our customers to effectively manage the full scope of Source to Pay and ECLM using our Determine Cloud Platform. Our Source to Pay software suite includes strategic sourcing, supplier management, contract management, and procure-to-pay applications.
The Determine Cloud Platform gives procurement, finance, and legal professionals the ability to deliver profound insights through analysis of their supplier relationships and contractual requirements. Our customers leverage the Determine Cloud Platform to discover previously unseen supplier and spend data; make more informed and smarter business decisions; drive new revenue; control costs; improve workflow efficiencies; and mitigate risk.
Our customers benefit from the Determine Cloud Platform's robust suite of integrated applications. Whether they start with a full-suite implementation or choose to implement just one application and build over time, each additional application allows for the automatic sharing of data already in place on the Determine Cloud Platform.
For more information, please visit www.determine.com.
