Rx Savings Solutions Selects Contract Logix to Streamline and Scale Contract Lifecycle Management
Innovative Prescription Cost-Savings Provider Leverages Intelligent CLM Software to Increase Visibility and Control of Governance, Risk, and Compliance
Lowell, MA – September 25, 2019 – Contract Logix, a leading provider of intelligent contract management software, today announced its Premium™ platform has been selected by Rx Savings Solutions, an innovative pioneer in providing cost-saving solutions for prescription drug purchasing, to streamline and scale contract management while improving visibility and control over its processes.
As Rx Savings Solutions’ business continues to rapidly grow, so does the volume, complexity and risk associated with the agreements. The solution from Contract Logix will allow for increased automation and efficiency in the contract management, while also enforcing governance and compliance.
The Contract Logix Premium platform was selected by Rx Savings Solutions to manage both the pre- and post-execution phases of its contract management. The manual contract processes that Rx Savings Solutions previously used became too difficult to maintain due to the company’s tremendous growth. The solution from Contract Logix will enable them to securely centralize their contracts and related data in single contract repository and more efficiently request, create, negotiate, execute, and manage agreements.
A key driver for Rx Savings Solutions was the need to increase visibility and control over the governance, risk, and compliance of its contracts. With the Contract Logix platform, the company will have a holistic view of the entire contract process and every contract in it. The solution will provide Rx Savings Solutions the ability to never miss another date, deadline, or obligation; enforce the use of approved language; and easily maintain version control. In addition, the data intelligence, search, and reporting capabilities of the system will ensure that Rx Savings Solutions is always audit-ready with its contracts which is a critical requirement in today’s highly regulated healthcare industry.
“The team at Rx Savings Solutions is delivering incredible value to consumers by empowering them with choices when it comes to prescription medicine, said Jim Averill, VP of Customer Success at Contract Logix. “We’re honored to be supporting the contract and risk management needs of such a game-changing innovator in healthcare.”
About Rx Savings Solutions
Rx Savings Solutions offers an innovative, patented engagement software system empowering employers and employees to be educated consumers of healthcare. In addition to large, Fortune 500 Employers, Rx Savings Solutions also services health plan clients. Founded and operated by a team of pharmacists and software engineers, Rx Savings Solutions supports a collaborative, cost-saving solution for purchasing prescription drugs. For more information, visit rxsavingssolutions.com or follow them on LinkedIn and Twitter.
About Contract Logix
Contract Logix is a longtime leader, innovator, and provider of intelligent contract lifecycle management software. The company’s software empowers legal, administration, IT, procurement, finance, and sales professionals across dozens of industries to draft, negotiate, approve, execute, and manage their contracts. Hundreds of brands have partnered with Contract Logix to automate their contracting processes while minimizing risk, increasing compliance, and driving profitability. For more information about Contract Logix, visit https://www.contractlogix.com and follow us on LinkedIn.