Introducing the World’s first Blockchain-powered Contract Management Solution, providing savings of up to 85% * of Contract Management costs.
Business Challenges in Procurement Contract Management
Multiple versions of truth from contradicting & siloed databases
Time and money expenditure on keeping databases and contracts in sync.
Manual process of reconciliation
Continuous delays in value settlement.
Duplication, tampering, data corruption
Time expenditure on finding the original source.
Lack of a real-time management dashboards
Inefficient management decision-making alongside with inaccurate budget forecasting
Non-compliance and complex dispute resolution
High legal department costs.
Why use KCS for Contract Management
Single-Source of Truth
Provides a distributed ledger kept between multiple parties → Up to 85%* cost reduction on reconciliation
Automatic Value Settlement
Provides instant access to financial obligations of contracts → Up to 12 months* time savings compared to manual reconciliation and value settlement
With tamper-proof and immutable blockchain records → Audit costs reduction by 80%*
Real-Time Analytics Dashboards
Management can have full confidence in financial processing
Integrated Dispute Mechanism
Built-in resolution mechanism and smart legal language that enables seamless dispute resolution with legal costs reduction by 50%*
* Average data calculated after KCS deployment to our customers