Contract management pain points
Poor contract management would have a sub-optimal impact on business functions. Following reasons show key challenges that exist in managing contracts during each stage of its lifecycle.
Lack of workflow
Multiple contract versions
Dead paper contracts
Long negotiation cycle
Outdated collaborative modes
Siloed contract process
Visibility on Obligations
Create, manage and monitor your contracts using Contracts Plus
Collaborative workflows allows streamlined contract creation process and shortened approval cycles
Robust version control, discussion forum and audit log shows contract evolution history and collaborators involved
Self executable contracts allows critical data captured into code during contract creation stage itself
Inference engine performs auto reconciliation of contract performance data and identify deviations
Leveraging blockchain for
We create self-enforceable smart contracts by leveraging blockchain technology. Blockchain is a decentralized peer-to-peer network that improves transparency, security, and provides immutability.
P2P - changes committed only upon agreement by all contracting parties
No leakage of confidential data via third party apps
Data becomes accessible only to intended parties
No intermediaries or central authority
Immutable transaction records
Non-repudiation - Digital signature & time stamping
Verifiable audit trail
Distributed mutually controlled ledger kept between buyer and supplier
Near-zero reconciliation costs with shared single source of truth
Parties can share and collaborate on a contract in real time
Breaks silos with a unified database
Secure with advanced cryptography
No single point of failure
Banking & Finance
Media & entertainment
Founded in 2019 and based in Chennai, India, Koncord law is a legal technology startup specialized in creating blockchain-powered digitized contracting solutions. We offer a suite of contract workflow and performance management capabilities to improve efficiency, reduce risk, and identify contract leakage. In addition to the easy creation of self-enforceable contracts, our solution enables businesses to reconcile contract data with enterprise systems data in order to identify contractual deviations.
To empower businesses to realize the maximum potential of their contracts
At Koncord, we are transforming the way that businesses create and manage their contracts. By leveraging latest technologies, we are creating unique capabilities that empower our customers with all-around contract visibility and actionable insights on contract performance.
For instance, our smart contract solutions deliver seamless, automated execution of transactional data, including invoice and contract information. This unique approach has the potential to dramatically enhance cash flow performance and reduce revenue leakage from unrealized contract benefits.
Founder & CEO
Mr. Anand Babu
Anand is a visionary founder having over 10 years of experience in the legal services industry with special focus on contract management solutions. He specializes in development of innovative product strategies, service offering designs, market penetration approaches, client engagement models, and strategic business partnerships.
In 2016, he co-founded "Surukam Analytics" and successfully launched an AI-powered contract analytics tool, which eventually got acquired by a US-based AI company. With a strong background in Law, Anand has worked at various technology companies including HCL Technologies, Technosoft Corporation, and Krystal AI.
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