HOW DO I MAKE THE MOST OF MY SERVICE CONTRACTS?

Every field organization needs to ask this question as service contracts are the lifeblood of these organizations. When it comes to providing high-quality services to your customers, your contracts need to be top-notch and watertight. Besides, optimizing your contracts provides speed and efficiency, both of which are critical to gaining a competitive edge.

However, the path to contract optimization is riddled with several challenges.

CHALLENGE ONE: “WHERE ARE ALL MY CONTRACTS?”

The first challenge to managing your contracts is finding all the contracts. Organizations have tried to create and manage contracts by implementing various solutions from document management solutions (SharePoint, FileNet, and Documentum), Contract Lifecycle Management (CLM) solutions, CRM, ERP, and more. Unfortunately, this has resulted in silos with less enterprise-level visibility.

SEAL + SERVICEMAX: ADVANTAGE

As a single enterprise-level solution to manage all your field service requests, ServiceMax helps organizations satisfy their customers, grow their service revenues and perfect how they deliver service to their customers. Field organizations can take customer service to the next level by deploying the Seal Platform along with ServiceMax. Consisting of the Seal Discovery and Analytics Solution, the Seal Platform delivers a comprehensive searchable contract portfolio containing ALL contracts of any type (Microsoft Word, PDF, image, others) located within any system (hard drives, network drives, software solutions, file shares, etc.) across their enterprise.

CHALLENGE TWO: “I CANNOT FIND MY SERVICE LEVEL AGREEMENTS (SLA) AND SERVICE ENTITLEMENTS FAST ENOUGH.”

Field organizations need fingertip access to their Service Level Agreements (SLA) and the service entitlements buried within them in order to address varying customer demands, determine whether a particular part/service is covered as per the contract and figure out associated service costs. The inability to do this quickly and accurately can easily result in unwanted costs in the form of extra/free services, longer delivery cycles or insufficient customer service, thus adversely affecting the service effectiveness and customer relationships.

SEAL + SERVICEMAX: ADVANTAGE

With Seal’s automated metadata extraction, organizations have the ability to quickly search and extract over 50 terms including SLA terms and service entitlements, to find the desired contractual terms. These terms can be fed into the ServiceMax platform and can be used to tailor service contracts to customer needs, define response and resolution time commitments and closely track them through service delivery cycles to measure service effectiveness.

CHALLENGE THREE: “I NEED TO KEEP TRACK OF MY SERVICE OFFERINGS GLOBALLY.”

As a field organization with offices all over the globe, it is inevitable that the contracts follow location-specific contract language standards. As a result, not only will your ocean of contracts be scattered across the globe, but the terms buried within them could differ dramatically based on region, as will the risk associated with them. The challenge with expanding your service business into new global markets is therefore two-fold – (1) maintaining access to all of your contracts, regardless of physical location, and (2) tracking the myriad variations of the same clauses based on regional standards.

SEAL + SERVICEMAX: ADVANTAGE

ServiceMax can help organizations seamlessly expand their service offerings into new markets with flexible Service Plans and simple Agreement creation to expand the tracking of entitlements and terms across regional service teams. Seal’s Advanced Policy Creation technology enables customers to “teach” the Seal Platform to detect and extract new clauses that were previously unstructured contract text - the match can range from a precise fit to those semantically similar.

This provides you dynamic access and insight to similar terms and clauses in contracts scattered across different countries/geographies, helping to ensure maximum compliance with regional contractual laws and internal corporate policies.

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