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Contract management software for legal departments & information services teams

Easily compare contract data to actual usage to optimize contract renewals

Is there a better mechanism than an Excel spreadsheet where all my contract details can be stored? Can my contract be linked to usage data for the related online subscriptions & installed applications? Will the system remind me when a contract is up for renewal, helping me proactively prepare for negotiations with the vendor?

ResearchMonitor acts as contract management software for legal departments as well as other information services teams. It is a one-stop shop to view, control and report on online research and other web-based enterprise subscriptions.

Contract management for online subscriptions

Data management is already a complicated environment. Having a solution for managing online subscriptions’ contracts — such as market data, research, SaaS, and information services licenses — centrally is the need of the hour, especially when you need to compare one contract with the other. It is even critical when you are likely to have multiple web-based subscriptions that cater the same industry.

Comparing usage between multiple providers & contracts allow strategic decision based on a cost-benefit analysis model. With each firm undertaking multiple contracts to cater their research & other information needs, managing all these can be a challenge. The system is expected to help librarians & other information professionals with the process, providing correct reporting as well as reminders to ensure you have enough data to negotiate with the vendor.

Ready to compare contract data to actual usage to optimize contract renewals?

Learn how you can optimize your contract negotiations & renewals.

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Optimized contract negotiations & renewals

ResearchMonitor Contract Management does this for you. The simple user interface allows you to fill in your basic contract details, attach your T&C’s as well as other documents, and link the resources covered in contract so you can get a usage summary. The child contract concept is there if you want to create a follow up contract.

Once the data is all set, ResearchMonitor does the job for you. Providing different reports to compare the contract data, usage summary data at session and user level that helps you identify how the resources were used at the time of renewal, and much more.

Automatic reminders can be configured per contract allowing you to proactively stay on top of your contract negotiations as well as having flexibility based on the type of contract.

Key takeaways

  • Store contract details centrally, giving you quick access to all these details
  • Link contracts to actual usage data, providing you with cost-benefit analysis for a resource
  • Custom reminders for contracts, allowing you to stay on top of contract negotiations
  • Seamlessly integrates with TRG Screen’s enterprise spend management software solution — Optimize Spend — to give you total visibility over both spend and usage to allow you to truly optimize your subscription expenditure
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ResearchMonitor provides financial institutions, law firms, and professional services firms with a central system to manage and analyze all of your online subscriptions — such as market data, research & SaaS licenses — as well as installed desktop applications & terminals.

Usage tracking of web-based subscriptions & applications

Other processes ResearchMonitor optimizes

Key Benefits
  • Usage & trend analysis
  • Contract compliance
  • Access controls & user workflows