Epiphany: Maximizing Return on Contracts

Brenda Brinkley, President and CEO
As the enterprises are in search for next game-changing strategies to boost their finances, a potentially lucrative source of revenue—the contract management stares them in the face. An efficiently managed contract results in revenue gains from after sales activities such as services, maintenance, license renewals and extensions, and more. “The contract is the way for generating revenues from what have already been sold,” says Brenda Brinkley, President and CEO, Epiphany. However, achieving such a lucrative proposition is easier said than done. The contracts contain important details of enterprises’ services and products and customer agreements; a larger number of such contracts make it hard to track them. This is where Epiphany comes into the picture. The Cypress, TX based company helps enterprises move from paper or Excel based contract management to cloud-based solutions. “We automate contract management, making it simple and efficient. We ensure re that the contractual commitments are met, pricing and terms are optimized for better business gains and stronger customer relationships,” she adds.

Epiphany offers e-Contracts, an end-to-end contract management solution to effectively manage contract entitlements, usage, software licenses, warranty costs, and renewals, in turn boosting profitability. Whether it is a software company, service based business or a product reseller, who provides warranty and maintenance as the backbone of their service processes, e- Contracts connects various customer service and support activities into a single, integrated service lifecycle. The solution comes with contract dashboards offering a unified view of the entire contract portfolio, real-time contract KPIs, and contract lifecycle visibility. Its contract administration helps create contracts from sales orders, place multiple items on the contract, and easily update—add or delete them when needed—and maintains a case history from contract start to finish. e-Contracts’ contract renewals enable proactive renewal management, automated reminders, identifies upsell opportunities, co-terminates contracts, eliminates data reentry, and prevents revenue leakage. The contract accounting offers flexible billing schedules, improved billing accuracy, and fully integrated general ledger. “e-Contracts reduce the burden of contract administration ensuring each contract is profitable and maximizing the value of contract portfolio,” remarks Brinkley.
In addition, e-Contracts offer visibility into contract profitability; were the services and products offered for the contract profitable? This is crucial to know at the time of contract renewal.


e-Contracts reduce the burden of contract administration ensuring each contract is profitable and maximizing the value of contracts portfolio


Complimenting e-Contracts is Epiphany’s e-Service Light, an integrated service scheduling and work order management solution that enhances productivity across the service order lifecycle and helps fulfill contract obligations. It can create service schedules from the sales order and generate printed work orders.

Epiphany specializes in medium-sized businesses, but has worked with hundreds of companies, from Fortune 500 to small twenty-person shops, wholesale, manufacturing, and service industries. For instance, one of the Epiphany’s clients, a fortune 500 manufacturing company, needed to automate thousands of contracts generated by product sales. The manufacturer managed contracts manually, using more than one system that resulted in data inconsistencies and an inefficient contract management system—leading to revenue loss. Using e-Contracts, the client was able to manage all the contracts by one system. It covered all the contract data from the time the customer ordered products to its delivery and after sales services. “e- Contracts automatically created the contracts, tracked all the renewable, saving clients thousands of hours and generating revenue,” claims Brinkley.

The company is all set to further its innovations in contract management by incorporating the latest technology trends such as IoT and Big Data. Epiphany is leveraging IoT to auto trigger and notify the OEM for upcoming service and maintenance or upgrades. On the other hand, the company’s contract analytics collects and consolidates data from disparate sources in the B2B cycle and turns it into actionable business insight.

Company
Epiphany

Headquarters
Cypress, TX

Management
Brenda Brinkley, President and CEO

Description
Epiphany offers e-Contracts, an end-to-end contract management solution to effectively manage contract entitlements, usage, software licenses, warranty costs and renewals, in turn boosting profitability.