SAN MATEO, CA, May 16, 2016 – Determine (NASDAQ: DTRM), a leading global provider of SaaS Source to Pay and Enterprise Contract Lifecycle Management solutions, offered through the Determine Cloud Platform, which includes strategic sourcing, supplier management, contract management, and procure-to-pay applications, announced that one of the nation’s top 10 largest bank holding companies has selected Determine Contract Lifecycle Management (CLM) as the solution to manage their contracting needs.
Determine’s CLM solution streamlines the entire contract lifecycle, from contract request, authoring, negotiation, and approval, through contract execution, amendment, and renewal. The solution provides an enterprise view of contracts and comprehensive reporting capabilities which will allow this global financial services company to automate their ongoing supervision of contractual relationships by consolidating and maintaining accurate contract data, while also minimizing risk and improving compliance.
The customer’s contract management solution selection process consisted of a rigorous evaluation of solutions from multiple vendors in the contract management space. The combined complexity of their agreements and stringent banking regulations necessitated a solution which was much more robust than their previous application. The customer ultimately decided in favor of Determine’s solution based on several key business criteria, including; the flexibility of its authoring tools, the highly configurable nature of the system, and the ability to ensure compliance and governmental scrutiny.
”Leading financial companies are choosing Determine Enterprise Contract Lifecycle Management because of the bottom-line impact we have on their business.” said Patrick Stakenas, President and CEO Determine, Inc.
“More and more financial services companies are putting enterprise contract lifecycle management solutions at the top of their agendas to significantly drive cost savings and compliance, increase revenue generation, and manage risk.”
About Determine, Inc.
Determine (NASDAQ: DTRM) is a provider of leading enterprise cloud software solutions with over four decades of collective technical and process knowledge in the areas of strategic sourcing, enterprise contract lifecycle management, and procure to pay solutions. We provide the next generation of agile, enterprise cloud solutions for managing the needs of modern business. Using our intuitive applications, organizations can effectively manage the full scope of source to pay and enterprise contract lifecycle management requirements using the Determine platform.
The Determine platform is an open technology infrastructure based on smart process application models. The goal of our platform is to establish awareness of relevant data, manage business documents, embed analytical tools, create a means for collaboration, and provide advanced process management tools for fully integrating business processes through an open API infrastructure. Built on a unified and highly scalable platform, we deliver deep and innovative capabilities in strategic sourcing, supplier management, enterprise contract lifecycle management, e-procurement, invoicing, and other business operation areas.
In addition to our source to pay and enterprise contract lifecycle management solutions suite, we also provide a powerful, patented configuration engine solution, which Global 1000 companies use to increase revenue by facilitating the right combination of products, services, and price.
For more information, please visit: www.determine.com.