Princeton, New Jersey, March 26th, 2018 - Ultria™ today announced the addition of new features in its automated Contract Lifecycle Management (CLM) solution. The latest version of Ultria CLM comes armed with exciting capabilities that further simplify, streamline, and boost efficiency of an organization’s contract management processes.

Ultria Contract Lifecycle Management is an end-to-end contract management solution for enterprises. “We, at Ultria, strive to facilitate easy collaboration among all the contract stakeholders including legal, sales, HR, and other concerned teams, and in doing so, fulfill our mantra of ‘taking CLM to the edge of the organization’,” said Arthur Raguette, EVP, Ultria. “The latest version of Ultria CLM, in fact, transcends the boundaries of an organization by extending the tool’s access to our client’s external contracting parties as well.”

Ultria CLM’s latest features include:

Real-time Collaboration

Ultria CLM facilitates easy collaboration and information exchange among stakeholders. It allows users to create multiple conversations, add comments, receive replies, exchange files, and more, right from within a contract. This ensures that all discussions regarding a contract remain tied to that contract within the CLM application. It also speeds up the drafting and negotiation cycle, since users no longer have to communicate over emails.

External Party Portal

Ultria has developed a secure portal wherein the contracting parties of Ultria clients can log in, access the contract, perform redlining, share with fellow reviewers, and once all changes are done, send it back to the Ultria client. This ensures that the entire contracting cycle occurs within a secure environment (and not over emails) greatly reducing the chances of sensitive and confidential information being compromised.

Outlook Connect

Ultria extends the advantages of a CLM to the business teams as well. Users, such as sales teams, are typically required to use the CLM application just for contract requests, as the subsequent steps of a contract cycle do not concern them directly. This is not likely to drive the desired tool adoption. To fill in this gap, Ultria has come up with a powerful plug-in for Outlook that allows users to place request for a contract directly from their mailboxes—open the request form, fill in the important fields, and submit the request to Ultria, all via the familiar Outlook interface.

External Template Parsing

Many a time an organization must use the other contracting party’s template for contract creation. Using Ultria’s patented external template parsing functionality, companies can automatically parse the third-party template into sections and clauses, extract relevant meta-data into the corresponding fields within Ultria, and also estimate the risk posed by this template by comparing it with standard internal contracts. This feature also eases the process of capturing meta-data of legacy contracts.

About Ultria: Ultria, a division of Verdantis Inc., is focused on delivering robust, scalable user optimized solutions for enterprise Legal and Sales departments. Proven, scalable, SaaS-deployed workflow, and compliance engines leverage Artificial Intelligence and Learn by Example configuration to enable Ultria CLM to be robustly and rapidly provisioned into today’s complex landscapes. For more information on Ultria, visit www.ultria.com.

Press Contact:
Riddhi Shah,
Ultria Marketing,
+1 609 799 5665

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