Contract Logix, a leading provider of data-driven contract management software, and TrailBlazer Consulting, a consultancy specializing in asset-centric information design, today announce a strategic partnership to help energy organizations accelerate their digital transformation through asset-driven contract lifecycle management (CLM). This formalized partnership comes in the wake of a five-year collaboration between the two companies as they worked together supporting energy companies in achieving their CLM goals.
Whether focused on fossil fuels or renewable energy sources, in production/generation or distribution, energy organizations face an increasingly competitive landscape, a rapidly changing regulatory environment, and complex information governance requirements. Contract Logix and TrailBlazer combine contract and asset data management expertise to provide commercial, legal, and operations leaders in all sectors of the energy industry with a blueprint to maximize asset revenue and mitigate business risk through CLM.
Key Facts:
- Extensive reach, encompassing businesses involved in all stages of fuel discovery, production, refinement, and delivery; evolving regulations and supply chain dynamics; increased M&A activity; and ensuring compliance without compromising speed are real business challenges facing the energy sector. The volume and complexity are staggering. Contracts, and associated contract data generated to protect the interests of the companies, their shareholders, their partners, and their customers, must adapt to changing customer expectations to allow companies to compete – and succeed.
- Contract Logix has over a decade of experience working with energy companies to automate, simplify, and optimize their CLM business processes. Its software allows companies to centralize, digitize, and analyze all contractual information while providing complete visibility into their contractual terms and obligations. Its platform also integrates with key business applications like CRM, ERP, business intelligence, and SCADA systems.
- TrailBlazer has more than a decade of experience working with companies across the energy industry to design information governance programs that meet regulatory and legal requirements and support safe operations and strategic growth. TrailBlazer’s asset-centric information management approach facilitates vital connections between operational data and the commercial contracts underpinning company revenue.
- With this partnership, the two companies will provide energy organizations with an asset-driven contract management solution that maximizes asset revenue by integrating contract and asset data. The solution includes the technology and process framework necessary for effective asset identification, counterparty management, and contract obligation tracking. By implementing asset-driven contract management, energy organizations can use real-time contractual information, combined with critical operational data, to identify opportunities for increased revenue and analyze the impact or mitigate the risk of lost revenue.
Executive Comments:
- “Managing the flow and sophistication of data generated at each stage of energy production, distribution, and consumption requires flexible and robust tools like CLM. Contract Logix has worked closely with our energy sector customers to remove barriers to successfully adopting contract management software, and we know firsthand how challenging CLM readiness and data organization can be. By working with experts like the TrailBlazer team, we believe we can help energy organizations solve the real business problems associated with asset data management and CLM.” – Karen Meyer, CEO, Contract Logix
- ”Asset data represent unique challenges in the world of information design. Energy companies build, maintain, and use physical assets for decades, making small changes over time that can have a big impact. M&A activity and changing technology add to the complexity of asset data making it hard to draw meaningful conclusions or make reliable, data-based predictions about the real value the asset brings to a company. Collectively, asset data may impact a company’s ability to maximize the revenue in its commercial contracts. Working with Contract Logix, we help energy companies connect key data from different parts of their organizations, allowing them to quickly compare revenue targets with actual production, identifying opportunities and potential issues before they happen. By synthesizing data and making it actionable, energy companies can optimize their asset value and we’ve developed a blueprint to make that goal a reality.” – Maura L. Dunn, President, TrailBlazer Consulting