FinQuery, a provider of solutions built to manage companies’ largest areas of spend, has launched FinQuery Contract Management, an AI-enabled solution that centralizes business contracts, enhances visibility and empowers wiser spending decisions.
FinQuery said Contract Management fills an important gap. Until now, contract management solutions have been geared primarily toward legal departments and have omitted essential post-signature business and financial needs, which lead to inefficiencies, errors and missed opportunities to optimize costs. Recognizing this challenge, FinQuery has developed a solution that streamlines the post-signature contract management process, providing financial and business leaders with valuable control and insights into spend and how to actively manage contractual relationships.
FinQuery Contract Management offers a range of features to empower businesses with contract and spend intelligence, beginning with AI-enhanced entry. Users can save time and resources by loading contracts into an AI-enabled interface.
Accurate budgeting and forecasting lets users leverage data in contracts to forecast cash flow and improve budgeting with just a few clicks. Automated alerts let customers stay updated on crucial dates and milestones with automated alerts, preventing missed deadlines.
A centralized repository lets users securely store all contracts in a central location, enabling access to all relevant employees. Quick search and retrieval facilitates swiftl access to contracts, identification of key terms and provisions, and extraction of valuable insights through the dashboard and robust search functionality. A full audit trail lets customers track contract changes and contracts with a detailed audit trail.
“FinQuery Contract Management bridges a crucial gap left by traditional CLM solutions that gives business leaders the information they need to make wiser spending decisions,” said Justin Smith, CFO at FinQuery. “By extracting business insights that are otherwise buried within thousands of pages across hundreds of documents, it allows managers to work ‘on’ the business and not ‘in’ the business. Whether a team wants to understand committed spend vs. available spend, renewal windows and other critical dates, counterparty exposure by contract or other key provision, FinQuery Contract Management is a vital tool to help drive insights and ultimately better results.”
