Ecteon Rounds Out Contract Management Product Suite with Contraxx Team

BRENTWOOD, Tenn., Nov. 18, 2010 /PRNewswire/ -- Ecteon, the first company to develop working solutions for the most difficult large-enterprise contract management problems, introduces Contraxx Team. Contraxx Team extends Ecteon's product offering to allow businesses to buy the level of functionality that best meet their needs. Contraxx Team joins Ecteon's product suite Contraxx One, a turnkey software-as-a-service (SaaS) contract management solution, and Contraxx Enterprise, the company's large-scale, enterprise-wide contract management software.

Contraxx Team is ideal for mid-market businesses or large companies that need departmental contract management. Contraxx Team manages the entire life cycle of contracts from company management and counterparty management to relationships and document management. Contraxx Team is the one-stop shop for managing contracts through approval and negotiation in the pre-signature as well as post-signature phases such as tracking, dates, renewals and amendments.

Through working with hundreds of companies on their contract management problems, Ecteon learned that some of its customers needed a less complex solution that nevertheless captured much of the same knowledge embedded in Ecteon's enterprise-level solutions.

"We always want to help our customers optimize value," said Richard Eckerstrom, CEO of Ecteon. "With Contraxx Team, we ensure that customers are buying at the right level to achieve that optimum. And very important, our product suite lets customers easily move to the next level within the Contraxx suite as their requirements change."

Contraxx Team is available as a SaaS implementation or hosted on the client's servers. With implementation taking only two weeks, Contraxx Team is the ideal contract management solution for businesses of any size.

Contraxx Team features an easy-to-use, intuitive interface that allows for a rapid learning curve and adoption of organization-wide access. Team also features a robust repository information capture on contracting parties (vendors, customers) and contracts. Along with systematic capabilities, Contraxx Team tracks key dates and events and notifies the organizer in a timely manner.

Most reassuring of all, if an organization's requirements outgrow Contraxx Team, Ecteon stands ready with a full suite of contract management products to permit seamless transition to capabilities matching those new requirements.

Eckerstom commented, "Contraxx Team will allow many businesses to get much of the functionality of Contraxx Enterprise with lower cost and faster implementation. Ecteon is proud to say that we offer a complete suite of contract management solutions for every business and every need."

About Ecteon

Headquartered in Brentwood, Tenn., Ecteon recognizes that contract management is a complex function for most organizations, large or small. Ecteon provides a full range of contract management services, including strategic planning, implementation, training and support. The company has extensive expertise and knowledge across multiple industries and offers consulting services to help clients optimize their contract management systems. Ecteon's experience provides unique insights that enable customers to effectively and reliably manage their entire contract lifecycle. For more information visit: www.ecteon.com.

SOURCE Ecteon