Opportunities for contract management digitalization in railroads today
Functioning within a complex, highly-regulated supply chain, railroads are no stranger to the contract. Binding and defining relationships with partners, vendors, suppliers, regulators, and labor unions, contracts permutate many areas of the rail business, from real estate leasing to interline agreements and procurement and sourcing.
Given the impact of rail contracts on a company’s revenue, compliance, and mitigation of risks, digitalizing of contract management has tangible commercial outcomes. More and more railroads are looking for opportunities to maximize commercial opportunities and mitigate risks when it comes to managing their contracts, moving to a digital, cloud-native contract lifecycle management (CLM solutions).
in this Industry Perspective, you’ll get a look at opportunities for digital transformations in contract management in the areas of leasing, pricing, right-of-way, and labor union agreements and contracts. You’ll be able to walk away with examples of how to leverage the technologies available, including:
- The cloud, providing a secure, central repository to store and access historic, current, and in-progress contracts
- Automation capabilities to establish complete control of the contract management process
- Artificial intelligence (AI)-powered risk assessments and reviews of third-party contractual agreements to maintain business continuity
- Deep search functionalities to ensure no contract gets lost and provide access to contractual data to safeguard your business
Download your copy of the Industry Perspective today to identify opportunities for contract management digitalization in your organization today.
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CloudMoyo empowers rail and transportation companies to gain greater insights, unlock efficiencies, and improve agility in operations, revenue and asset management as well as critical areas of safety, crew scheduling and maintenance. Combined with deep rail industry expertise, our cloud-based, AI-driven solutions leverage cutting edge technology to reimagine railroad digitization.
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