TrustHall - Contract Management System

Overview

TrustHall by WNS-Vuram is a fully configurable, user-centric solution for agile enterprises. You can generate, organize, collaborate, review, store, and track contracts effortlessly across the organization in a single application. With built-in configurable workflows, clause bank, reusable templates, centralized storage, AI/ML-based actionable intelligence, version comparison capabilities, flexibility to adapt to business models, and multi-language support, WNS-Vuram's TrustHall can be seamlessly extended to manage the entire contract life cycle for enterprises.

Challenges/Problems Solved: TrustHall solves the following challenges/problems:

• Contracting Risks: Reduces contract risk with Doc AI capabilities that help organizations understand the clause differences and improve negotiations.
• Inefficient Negotiation Process: Extract key attributes, categorize and classify contract clauses to automatically generate context-based clause comparison match scores for collaborative and efficient negotiations.
• Complex Contract Flows: Simplifies complex approval flows, hierarchy, department & organization structure with business-process-specific configuration options for business users that require minimal efforts for additional changes to fit the application to the industry layer.
• Large Volume of Contract Data: Establishes CLM best practices and performance metrics even if your enterprise frequently manages a large volume of complex contracts with suppliers and customers.
• Lack of Visibility: Provides better visibility over contract process, data, obligations, and renewal, as well as performance tracking with a single view of all contracts and contract metadata in a unified interface.
• Delays and Errors: Overcomes the delay in the contract life cycle, errors caused by manual handling of contract data, risk of regulatory compliance, and fragmented manual process.

Key Features & Functionality

• DOC AI: Improves visibility and reduces risks with AI-enabled contract classification, data digitization & extraction.
• Efficient Workflow Management: Effortlessly creates multiple approval groups for any contract type with configurable workflows & handles end-to-end contract life cycle.
• Speedy Contract Creation: Easily creates contracts single/bulk, chooses any available template, fills variables, and generates contract documents in no time.
• Clause and Template Management: Adds terms and clauses to the templates and handles different versions, auto-updates terms and clauses. Adds parameters to clauses, sections, and templates and generates values dynamically during contract creation.
• Centralized Document Storage: Creates multiple contracts and stores versions in dedicated folders. The system comes with the inbuilt capability to integrate with Sharepoint, Google Drive.
• Configurable Notifications: Gets notified of any change made to the clauses and templates. Configures contract-specific notifications and milestone reminders to avoid undesired expiry or late contract renewals.
• Prebuilt Reports: Gets detailed reports on contract status, different contract types, date of expiry, contract cycle time, etc.
• Multilingual Support: The application supports Spanish, Dutch, and English, and it is compatible with mobile phones, tablets, and desktops.
• Hassle-free Approvals: Edits, comments, or red-lines in the contract document during approvals and negotiation. Easily tracks obligations and approvals. Signatories can e-sign the contract documents.
• Contract Search: Secured, searchable repository. Locates contracts better and faster with metadata, text search.
• Smart Admin Configurations: Configurable signatories, Email Template configuration, Site Branding configuration, Parallel workflow, etc.
• AI-powered Clause Creation: Gets AI suggestions to create and phrase clauses with proper context.

Benefits & Business Impact

Business Impacts:

• Reduced audit, admin & unplanned costs
• Improved revenue management
• Increased governance and compliance
• The accelerated pace of business
• Reduced financial and legal risks
• Strengthened business relations & reputation

Benefits:

• 100% web-based & secure - The solution can securely be accessed by multiple users
• Easy to adapt with agility - Easily integrates with existing systems to manage data and adapts quickly to diverse business needs
• Plug-N-Play solution - Gives a jump-start advantage to any enterprise by quickly adapting and customizing
• Highly extensible & Reusable - The solution can be extended to other functional areas with minimal effort due to its low-code capability
• Scalable & Integratable - Scale-up, Customize and add as needed by integrating with third-party systems
• Mobile-enabled & Globalized - The solution is mobile-enabled out of the box and comes with multi-language support.

2021 Solution Success Award Winner The Solution Success Awards recognize the best of the best partner solutions on the Appian AppMarket