November 20 by Steve Feyer
Lights, Camera, Contract!
The soaring orchestra of a great soundtrack; the irresistible dances of a Bollywood hit; the slapstick humor of a comedy great. When you see these classic movie moments on the big screen, it all seems so effortless.
But creating great entertainment and media takes an incredible amount of complex work—and none of that work can get started without approved contracts. Compared to other businesses, Media & Entertainment companies face special contract management challenges:
• Many contracts are issued for a particular production—such as a movie—yet all contracts must comply with master agreements at the corporate level.
• An explosion of new channels and markets makes distribution rights far more complicated than it was even just a few years ago.
• Many contracts cover the work of “talent”—such as a musician—and can be difficult to negotiate and execute among the corporate and individual parties.
• With these and other considerations, Media & Entertainment contracts are very intricate. For example, a typical production services agreement contains more than 450 data points and clauses on average, and a single production can require hundreds of contracts.
It’s no surprise that Media & Entertainment companies desperately need modernized Contract Lifecycle Management (CLM) software.
Birlasoft has created a contracting solution designed to meet the needs of complex Media & Entertainment companies. Birlasoft demonstrated their solution, called TruView CLM, to an attentive audience on the third day of Dreamforce 2017.
The TruView Contract Management Solution
The TruView solution is built with Apttus Intelligent Contract Management on Salesforce. With this solution, companies are seeing significant benefits:
• Full compliance with contract terms
• 100% capture of all options, so no option expires without consideration
• 20% faster deal closure
• Correct selection of contract type every time with contract wizards, even with 500+ templates in use
• Replacement of 10 or more existing contract systems with a single CLM solution
TruView CLM is a perfect partnership serving the needs of Media & Entertainment businesses. Using the full capability of Apttus Intelligent Contract Management to solve unique industry needs, TruView CLM shows why 94% of customers call Apttus an innovator, and why Apttus is the Contract Lifecycle Management leader.