The contract management software provider I-many has announced a B2B marketing alliance with Accenture. Initially, the alliance plans to serve pharmaceutical and consumer goods manufacturers, with the goal of expanding to chemicals and electronics.
“An overwhelming number of transactions are governed by some type of contract, which creates the challenge of tracking hundreds of agreements,” said Accenture Pharmaceutical & Medical Products partner David Blumberg. “Moreover, since pharmaceutical companies pay a substantial percentage of revenues in rebates to managed care organizations, group purchasing organizations and drug wholesalers, this alliance was formed to help the industry optimize and benefit from contract management.”
I-many solutions help companies manage contracts and trade agreements. Combined with Accenture’s supply chain skills and strong client relationships, they aim to help companies cut costs as well as enhance revenues through trading partner relationships.
A recent Goldman Sachs research report indicates that companies using contract management software can reduce contract management expenses by 20-50%.
Under the alliance agreement:
• Accenture will become the preferred business integration provider for the I-many contract administration and reporting system.
• An Accenture team will be trained to implement I-many contract management software applications.
• I-many will also become Accenture’s preferred automated contract management solution provider.
• If mutually established performance objectives are met, Accenture may earn warrants to purchase equity in I-many.
Accenture is a $10 billion global management and technology consulting organization. The firm is building a network of businesses to meet the full range of client needs – consulting, technology, outsourcing, alliances and venture capital.
The I-many CARS integrated system automates contract management systems and helps eliminate paper-based transactions. Cars®/IS analyzes contract performance, provides volume-based discount information, and determines how to structure the best contracts in different markets.
The company’s software is used by eight of the largest 10 healthcare manufacturers in the world and leading consumer goods companies.