January 26, 2016
Boston, MA – January 26, 2016 – Exari, the leading provider of cloud-based contract lifecycle management solutions, today announced the latest release of its Universal Contract Data ModelTMfor Financial Services as part of the latest update of Exari ContractsTM, Version 7.0.1. Exari is the only software company in the industry to deliver a contract data model with 100% contract certainty. As a result, asset managers can reduce the time it takes to capture and analyze trading agreements, IMA’s, CSA’s and side letters from months to hours.
Firms often struggle with keeping track of rights, obligations, and terms within their most complicated agreements. Simple operational inquiries into proxy, tax, or most favored nation terms can take weeks or months and cost hundreds of thousands of dollars or more in outside legal fees.
With the Contract Data Model, users can properly understand the data contained in their contracts rather than relying on unsophisticated and often inaccurate key word searches. By automating the creation of relationships between correlating documents, this powerful approach streamlines visibility into contract risk for the financial services industry, helping to further decrease risk. Five of the world’s top fifteen banks already use Exari to improve contract certainty.
“Every financial services firm is under global pressure to provide deep visibility into the way they conduct business and how that business aligns with the needs of the target markets that they intend to serve across the globe”, said PJ Di Giammarino, CEO and founder of JWG Group, a leading think-tank to the financial services industry on regulations. “Using a proven data model to align transactions to regulatory obligations enables firms to manage market-sensitive trading data with lower risk of non-compliance and lower cost”.
“Exari customers are already using the new model to efficiently answer complex business inquiries without having to rely on outside legal resources,” said Jamie Wodetzki, Chief Product Officer at Exari. “For example, one Exari customer is now able to precisely identify which customers require disclosure in time-sensitive situations. This industry specific model gives them the speed and accuracy needed to provide sensitive information faster than ever before”.
Exari’s new Contract Data Model is available immediately. For more information, visit www.exari.com.
Exari is a market-leading Contract Lifecycle Management platform that unifies the processes of generating, managing and analyzing expansive document and contract portfolios. Exari solutions are used by hundreds of thousands of users worldwide.
Exari is headquartered in Boston with offices in London, Melbourne and Munich. Learn more at www.exari.com.