Mitigate risks, ensure compliance, gain visibility
into your Rail Contracts
Rail Contract Management
Using Icertis Contract management (ICM) platform, CloudMoyo enables railroads to lead the digital transformation across Procurement, Lease Management, Real Estate, Legal and Sales.
Why do railroads need Contract Management?
Just like any other freight transporter, railroads have multiple contracts related to various commercial activities such as third parties, vendors, suppliers, labor, procurement, regulations, compliance, commercial agreements.
Below, we highlight some rail areas that can be significantly impacted by contract management –
- Manage regulatory compliance with bodies such as FRA, AAR, APTA, ASLRRA
- Ensure compliance with Railway safety legislations
- Monitor labor union clauses and rules
- Enforce agreement terms, pricing and obligations with a single source of truth
- Enhancing visibility to global spend data
- Manage leases, renewals, expiries & penalties
- Rate Price Management: Ability to make quick and efficient updates
- Track lost revenue and negotiate favorable rates
- Comply with Rate EDI Network mandates as well as Interline Settlement System (ISS)
- Attain proactive visibility on efficiency, risk, obligations and effectiveness
- Enhance visibility on interchange rates, car-hires etc
- Systemize freight audits
Our offerings - Rail Contract Management
CloudMoyo is the Preferred Partner for Icertis Contract Management (ICM) – a leading Contract Lifecycle Management (CLM) software in the cloud – for implementation, legacy migration, contract process optimization, clause analysis services and contract analytics. With a team of over 40 implementation specialists, functional & technical consultants and lawyers, we bring experience of over 35 projects and a rich legacy of 8+ years of thorough contract lifecycle management knowledge-
- 360° ownership of project management right until hyper-care
- Deploy strong functional consultants with domain expertise
- Drive system configuration and adoption activities
Template & Clause Analysis
- Analyze agreement templates to find options for optimization.
- Identify common clauses among templates, consolidate them and remove redundancy
- Optimize templates to reduce implementation cost, time and effort
- Ensure error free and swift migration
- Extract Metadata and get ICM ready for use with historical data
- Adopt a smarter way to migrate legacy contracts
- Create custom reports focused on just the information that is very important
- Drill-down from summary-level to transactional-level detail
- Build charts and graphs to visualize the analysis using Power BI
Real Estate Lease Management System for Class 1 RailroadCloudMoyo helped an American Class I railroad with a contract management solution to manage its real-estate leases by creating a comprehensive store of real-estate inventory by organizing new and legacy agreements in one system. This mega-project handled over 35000 legacy contracts, 120000 documents and 250 inventory listings. The key benefits from this contract management solution were-
- Catalog and proactively manage lease contracts
- Automate financial processes (rental payments, price escalation and indexation, variable rent and concessions, settlement of service charges)
- Gain insight into costs, yield and occupancy
Talk to our Rail Contract Management Expert now!