GE Implements Contract Management and Document Generation Solution to Decrease Cycle Time
Octiv, the leading provider of contract management and sales document generation solutions, announced that General Electric (GE) has selected Octiv to serve as a contracting standard to deliver productivity across the company.
“We’re working hard to transition our company to digital-focused productivity products, and a big piece of that transition has to do with Octiv. Our employees are utilizing the speed and efficiency Octiv offers with digital documents and contracts, and we’re becoming more efficient holistically. Octiv will give our customers and partners the digital experience they expect from GE while ensuring accuracy and speed in our sales and legal document delivery,” said Nick Perugini, head of commercial digital technology at GE.
The multi-year deal expands on the pre-existing relationship between Octiv and GE, where over the past few years Octiv’s platform has supported GE’s digital transformation by delivering increased efficiencies and time savings into commercial workstreams. Focused on increasing velocity in sales, decreasing operating costs and simplifying operational processes, the Octiv solution has enabled various GE divisions to:
- Reduce document agreement cycle times by 70 percent, saving on average 80 minutes per document
- Reduce time to create and deliver proposals, quotes and SOWs by 90 percent
- Deliver value through increased time savings which translates into direct productivity
Also Read: Interview with David Kerr, CEO, Octiv
“Working with GE has been transformational for both of our organizations. Octiv has been working collaboratively with the GE team across the globe to drive contracting and sales efficiency. We are looking forward to expanding and accelerating our partnership,” said David Kerr, CEO of Octiv.
Octiv is also credited with enhancing GE’s customer experience by providing real-time, online negotiation capabilities, email and text notifications and mobile-enabled electronic execution of agreements.
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