Award Recognizes Innovation in the Application of Technology and Data Analytics to Commercial Contracts
New York, NY (October 21, 2015) -Dell, one of the world’s leading technology companies, and Axiom, a leading provider of technology-enabled legal and contracting services, have been named as the joint recipients of the 2015 IACCM Innovation Award for Outstanding Service Provider. The IACCM awards acknowledge those companies that are raising the profile of contract and commercial capability within their organizations. Specifically, the Outstanding Service Provider Award is given to those service or application providers who have led or enabled high-value initiatives at client organizations.
The award is an acknowledgement of the innovative transformation of Dell Legal’s sales contracting function, and the far-reaching commercial benefits of applying technology and data analytics to contracts.
Through the partnership, Axiom is delivering an as-a-service contracting solution, which involves the capture, management, reporting and analytics of legal and commercial information contained in Dell’s sales agreements globally.
The capability enables Dell to more effectively identify revenue and margin-improvement opportunities, for example, cross-selling, proactively managing contractual rights and obligations, and obtaining data on the impact of contractual terms. Equally as important, it allows Dell to continue to gain efficiencies in managing risk and effectively adhering to contractual requirements.
“The application of technology and data analytics to contracts can unlock real value for corporations, and we are thrilled that the IACCM acknowledged our partnership with Dell, a company that shares this vision,” said Paul Carr, Axiom’s President.
“Over the years we have had a number of software vendors try to sell us software-only contract management systems, but we needed a provider who could offer us a full contract-management solution … Tools and People,” said Scott Bialek, director of Global Sales Contracts at Dell. “Axiom provided that in an integrated as-a-service commercial construct.”
Axiom’s Contract Data Analytics Service is powered by IRIS, a proprietary, cloud-based technology platform, and involves the translation of clause level text contained in contracts to structured data elements that drive reporting and analytics in a flexible and powerful way. The data and analytics can be accessed via a self-service portal by Sales, Finance, or Legal professionals.
Axiom, a recognized leader in the business of law, provides tech-enabled legal, contracts, and compliance solutions for large enterprises. Axiom’s solutions combine legal experience, technology, and data analytics to deliver work in a way that dramatically reduces risk, cost and cycle-time. The firm comprises 1,500 lawyers, professionals, process engineers and technologists who serve over half the Fortune 100 across 15 offices and 5 centers of excellence globally. www.axiomlaw.com;www.contracts-as-a-service.com.