Hummingbird Partners With Perfectus Solutions To Provide Key Component Of Contract Lifecycle Management Solution
Hummingbird Ltd. (NASDAQ: HUMC, TSX: HUM), a leading provider of enterprise content management (ECM) and network connectivity solutions, today announced it is partnering with Perfectus Solutions - a specialist supplier of automated document composition and process management software.
The Hummingbird Enterprise Contract Management solution seamlessly integrates with Perfectus Solutions' patented and multilingual document creation product based on an intuitive and highly reusable template driven approach to construct complex transactions and agreements. The template creation process is fully integrated with and is managed within the Hummingbird Enterprise content repository resulting in highly reusable agreements, reducing time and cost. This enables enterprises to automate repetitive tasks associated with contract creation, reduces errors and streamlines approval processes. In doing so, the Hummingbird Enterprise and Perfectus solution provides the key first step in the contract management process - the automated creation of compliant documents.
"Hummingbird has recognized Perfectus as the technology key to unlock the benefits of our patented contract creation process. It empowers our mutual customers to leverage line of business data in the creation of fully compliant content-centric communication," said David Cam, Chief Executive Officer at Perfectus Solutions. "In building a contract, Perfectus can pull information from its clause library maintained within Hummingbird and can also interact with line of business systems, such as ERP and CRM applications, ensuring up-to-date data is selected which improves the quality and accuracy of the contract."
Integrating the Perfectus document composition product with Hummingbird Enterprise offers customers a comprehensive solution to automate and manage the contract lifecycle processes from generation, through to secure collaboration during the negotiation process; proactive alerts relating to critical contracts that require review and renewal; and finally to satisfy compliance requirements relating to the business policies and procedures, retention, archival and disposition of contracts as part of an integrated solution.
Contracts and other official documentation form the lifeblood of business transactions. How these are generated, stored, reused and maintained has an immediate impact on how organizations can streamline such highly labour intensive processes, reduce contract administration costs, mitigate risk and exposure and foster more proactive client relationships.
"By partnering with Perfectus Solutions, Hummingbird is now able to offer a highly flexible multilingual content creation process as an integral part of the overall Hummingbird contract management solution," said Barry Litwin, President and Chief Executive Officer, Hummingbird Ltd. "Perfectus Solutions provides us with a document composition platform on which we can develop other content lifecycle solutions, adding functionality to our correspondence management solution and helping to build additional solutions such as agenda and case management."
About Perfectus Solutions
Perfectus Solutions specialises in sophisticated, easy-to-use, automated
document composition and process management software. Integrating seamlessly
with existing enterprise applications, Perfectus delivers a rapid return on
investment for businesses that depend on accurate, compliant and consistent
management of contracts and other complex documents. Perfectus reduces costs,
speeds contract approval and increases overall productivity for customers.
Perfectus has offices in London, Sydney, San Francisco and Auckland. Customers
worldwide include leading law firms, financial services institutions,
insurance companies and corporate legal departments. For more information
visit www.perfectussolutions.com.
About Hummingbird Enterprise
Hummingbird Enterprise provides an integrated platform for enterprise
content management that provides global organizations with solutions to manage
business interaction information such as documents, records, virtual deal room
exchanges, discussions, email or financial data - linking business processes,
information and people. Our solutions are designed as modular applications
that are fully interoperable with each other, enabling our customers to
incrementally build an enterprise content management solution to meet their
evolving information needs in a cost effective manner.
About Hummingbird
Hummingbird Ltd. (NASDAQ: HUMC, TSX: HUM) is a leading global provider of
enterprise software solutions. The Company's enterprise software solutions
fall into two principal categories: enterprise content management (ECM)
solutions, and network connectivity solutions. Hummingbird's ECM solutions
enable organizations to manage the lifecycle of enterprise content from
creation to disposition, thereby enabling organizations to address critical
business needs, such as information management, business continuity,
compliance and risk mitigation. The network connectivity solutions provide a
comprehensive set of core network technologies that enables the enterprise to
connect to any type of legacy system.
Founded in 1984, Hummingbird employs over 1,500 people and serves more than 33,000 customers, including 90% of Fortune 100. Hummingbird solutions are sold directly from 40 offices worldwide and through an Alliance Network of partners and resellers. For more information, visit www.hummingbird.com.