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The contract with AIMCo provides a turnkey solution which includes contract and invoice management system design, implementation and support services to one of Canada’s largest institutional investment managers and confirms the ongoing growth of its best-in-class CLM solution
MONTREAL, Jan. 12, 2021 (GLOBE NEWSWIRE) -- mdf commerce inc. (TSX:MDF), a leader in SaaS commerce technology solutions, is thrilled to announce an agreement with the Alberta Investment Management Corporation (AIMCo) and the successful implementation of CLM tools and services from its Strategic Sourcing ASC solution.
The solution implemented for AIMCo enables effective online contract and invoice management, document storage and administration, robust searching and reporting as well as many other powerful features designed to streamline the contract and invoicing process and save the organization thousands of work hours through automation. From February to June 2020, close to 1,000 invoices were processed on the mdf commerce CLM system, representing $19 million in invoices.
AIMCo is one of Canada’s largest and most diversified institutional investment managers. It invests globally on behalf of pension, endowment and government funds in Alberta. AIMCo has $115 billion of assets under management and earned $11.5 billion in net investment income in 2019.
“The mdf commerce ASC solution provided AIMCo with automated workflows, electronic signature, visibility and reporting that met our unique business needs in terms of CLM and invoice management,” said Marc Tomlinson, Senior Manager, Procurement, AIMCo. “We are seeing online approvals for invoices occur in as little as five minutes — making us much more efficient across the organization.”
"We are delighted that the implementation of our contract and invoicing solution was so successful for AIMCo," said Mark Eigenbauer, President, Strategic Sourcing at mdf commerce. "We are convinced our Strategic Sourcing solutions can dramatically improve processes through intelligent integration, digitalization and automation."
About mdf commerce inc.
mdf commerce inc. (TSX:MDF), formerly known as Mediagrif Interactive Technologies Inc., enables the flow of commerce by providing a broad set of SaaS solutions that optimize and accelerate commercial interactions between buyers and sellers. Our platforms and services empower businesses around the world, allowing them to generate billions of dollars in transactions on an annual basis. Our strategic sourcing, unified commerce and emarketplace platforms are supported by a strong and dedicated team of more than 600 employees based in Canada, the United States, Denmark, Ukraine and China. For more information, please visit us at mdfcommerce.com, follow us on LinkedIn or call at 1-877-677-9088.
For further information:
President, Strategic Sourcing
Toll-free number: 1-877-677-9088, ext. 6250
Vice President, Marketing and Public Affairs
Phone: +1 (514) 961-0882