Metaldyne Selects I-many Collections and Enterprise Contract Management Solutions
PORTLAND, Maine--Jan. 9, 2003--I-many, Inc. , the leader in enterprise contract management and trade management solutions, announced today that Metaldyne Corporation has selected I-many's collections and enterprise contract management solutions, enabling the company to centralize collections in a shared services environment across the enterprise as well as automate and streamline the administration of customer term sheets for visibility between sales, purchasing and collections.
Metaldyne will also be linking I-many's collections solution to its enterprise contract management solution so that Metaldyne collectors will be able to automatically access a customer's purchase order and compare it against the pricing in its billing system to determine any potential discrepancies. In addition, the I-many collections solution will provide collectors with work flow capabilities to dramatically compress the issue resolution time. I-many was the only company Metaldyne identified in their search that understood the critical linkage between collections and contracts.
"Very few companies have full and clear visibility into the increasingly complex contracts they have with their customers," said Terry Nicholson, Chief Operating Officer at I-many. "Savvy companies like Metaldyne realize the inherent link between collections and contracts and are using our enterprise contract management solution to automate the administration of purchase orders, allowing collectors to spend more time on resolving issues and less time on seeking paper records to validate their assertions."
About Metaldyne Corporation
Metaldyne is a leading global designer and supplier of metal-based components, assemblies and modules for transportation-related powertrain and chassis applications including engine, transmission/transfer case, wheel-end and suspension, axle and driveline, and noise and vibration control products to the motor vehicle industry. The company serves the automotive segment through its Chassis, Driveline & Transmission, and Engine Group. Headquartered in Plymouth, Mich., Metaldyne's annual revenues exceed $1.5 billion. The company employs nearly 9,700 employees at over 50 facilities in 11 countries.
About I-many's Enterprise Contract Management Solution
I-many's enterprise contract management solution increases contract revenues, reduces contract exposure, ensures contract compliance, tracks contract performance and automates contracting processes. It provides full lifecycle contract management capability with buy and sell-side contract management functions from contract planning, negotiation and document creation to accurate and timely transaction compliance, settlement and analytics.
About I-many's Collections Solution
I-many's collection solution is an integral part of the I-many enterprise contract management solutions suite. It improves cash flow and reduces Days Sales Outstanding (DSO) by streamlining and automating collections processes. The solution is web-based and optimised for global organisations that can benefit from user-defined workflows.
Because disputed invoices are often the result of non-compliance with contractual terms and conditions, I-many's enterprise contract management solution can be integrated with I-many's collection solution to reduce the number of accounts sent to collection by validating invoices and ensuring billing accuracy.
About I-many
I-many is the leading provider of enterprise contract management and trade management solutions. The company's solutions automate contracting processes, ensure contract compliance and track contract performance resulting in higher contract revenues and reduced operating costs. More than 250 life science, consumer goods, food service and manufacturing companies use I-many solutions. For more information, visit the company at http://www.imany.com.
This press release may contain forward-looking statements relating to the future performance of I-many, Inc. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially from expectations. These risks and uncertainties include the customary uncertainty associated with large software implementation projects and other risks described in I-many's filings with the Securities and Exchange Commission.