Introducing dTrax - Deloitte’s award-winning AI-enabled Contract Lifecycle Management Solution Bookmark has been added
Introducing dTrax - Deloitte’s award-winning AI-enabled Contract Lifecycle Management Solution
Harness the power of Analytics and AI to better manage contracts
The pace of business is becoming faster and the demands on in-house counsel are continually growing. Organisations no longer have the time to waste valuable resources manually putting together, negotiating and managing contract portfolios.
Thanks to significant breakthroughs in technology, there is a better way.
Deloitte’s solution: dTrax
dTrax, winner of the “Intelligent Contracting” category at the 2019 Financial Times Intelligent Business awards, is Deloitte’s proprietary, end-to-end Contract Lifecycle Management solution that delivers improved contracting efficiency, visibility and compliance through advanced analytics.
Designed by Deloitte’s leading Analytics team – rated number one by both Gartner and Forrester – dTrax unlocks the power of your contracts by extracting contract-related data and integrating it with your business data, allowing you to diagnose problems, identify opportunities and drive value for your organisation.
dTrax streamlines the contract management process by standardising templates, automating first drafts of agreements and managing the full negotiation process and workflow, which consolidating all executed contracts in one place.
It is configured to the needs of your specific organisation, leveraging a customised suite of technologies which help reduce cost, minimise risk, reduce cycle time and increase accuracy by leveraging machine learning. This configurability enables your contract management solution to advance with changing technology and the evolving needs of your business.
dTrax can be configured as an end-to-end contract lifecycle management solution, or as a solution to manage specific projects, such as contract repapering exercises in response to regulatory change (e.g. GDPR, Brexit, Initial Margin or IBOR).
Key benefits of dTrax:
- Increased efficiency. dTrax speeds up the contractual process to help you negotiate deals more quickly.
- Increased compliance. dTrax increases visibility to contract terms and conditions, which improves compliance.
- Reduced costs. dTrax’s streamlined process and improved operational efficiency unlocks additional value from your contracts.
- Reduces risk. dTrax minimises risk by embedding your organisation’s playbooks into dTrax with micro-version control and audit risk.
dTrax Process Flow
How is dTrax different?
- It is highly customisable. We can tailor the solution for your specific needs and integrate it with your existing business systems and processes.
- You gain access to Deloitte’s fully integrated, end-to-end service offering, which provides advisory services, technology configuration and deployment and managed services. Deloitte is recognised as a global leader in data analytics services (by Gartner in 2019).
- It is contract agnostic. It has the ability to create, negotiate and execute any type of contract, regardless of complexity or length.
dTrax by Deloitte Legal
And don’t just take our word for it
We were recognised as the winner of the “Intelligent Contracting” category at the 2019 Financial Times Intelligent Business awards. Read about how we used dTrax to save 60% of the legal costs on a recent GDPR project in the FT’s Intelligent Business Special Report.
To find out how dTrax can help transform your business, please contact the dTrax team.