A global leader in scalable revenue lifecycle management solutions, Conga, recently announced accelerated innovation in its contract intelligence and revenue lifecycle management products. Conga’s contract management business has seen a 123% improvement in win rate, positioning Conga for rapid growth with a $6.5 billion market opportunity, driven by innovative and market-leading new products.
Noel Goggin, the CEO, of Conga, said, “Conga has experienced strong growth over the past year, marked by the accelerated adoption of contract management solutions as organizations worldwide realize the imperative nature of accuracy in their contracting process. Whether a procurement, legal, or sales department, inaccuracy in contracts is no longer acceptable. We are in a unique position to address customers’ needs and offer sophisticated contract management capabilities that will ensure certainty at the highest rate possible.”
Conga Contract Intelligence uses natural language processing (NLP) and artificial intelligence (AI) to guarantee business accuracy and certainty, no matter the industry or size. Through the technology, teams can be more productive – from weeks and days to minutes – as they gain insight into contracts to manage risks and maximize revenue.
This product has several key benefits, including:
- By providing proactive alerts about contracts each stakeholder is responsible for, Contract Intelligence provides the only way to make sure that no revenue opportunity or obligation goes unnoticed.
- It replaces chaotic workflows with proactive insights and alerts that catch every opportunity to save money. The solution eliminates hours every week of tedious administrative tasks.
- Contract Intelligence identifies and compares key contract terms and clauses automatically with the option of human attorney review. This solution guarantees that the most accurate and reliable solution is used to identify key contract content and risks, eliminating manual work and lowering risk exposure.