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What is EY OpsChain Contract Manager?

Procurement acts as a critical link for organizations to connect with their external business partners. As the networks of suppliers and buyers become increasingly intricate, many organizations find themselves using outdated technologies and processes to manage these relationships. Although procurement teams are adept at negotiating favorable contracts, they often struggle with effectively implementing them in practice. Historically, the functions of legal, procurement, supply chain, and finance have worked in silos, focusing on optimizing their individual processes without any unified integration. This situation is exacerbated by traditional ERP systems that fail to efficiently handle business rules and volume discounts across multiple divisions, subsidiaries, and partners. As a result, the growing complexity surrounding contract execution leads to substantial contract leakage within large organizations, causing a noticeable gap between negotiated savings and the actual savings realized. Therefore, it is essential for organizations to reassess their procurement strategies in order to bridge this gap and improve overall operational efficiency. By adopting more modern and integrated approaches, businesses can better align their procurement functions with their broader operational goals.

What is ChainPact?

ChainPact is a decentralized application designed for payroll and peer-to-peer contracts, offering two distinct types of agreements: Gig pact and Proposal pact. The Gig Pact facilitates the creation of employment or freelance contracts on the Blockchain, functioning as a time-sensitive agreement where the employer disburses payments at predetermined intervals, effectively serving as an "escrow smart contract." On the other hand, the Proposal pact enables users to launch fundraising initiatives similar to Kickstarter, allowing the contract creator to establish a timeline for voting and determine the duration for which contributors can decide whether to release the funds to the creator or return them to the backers. This dual functionality of ChainPact not only streamlines contract management but also enhances transparency and trust among all parties involved.

Media

Media

Integrations Supported

Apollo GraphOS
Avalanche
BNB Smart Chain (BSC)
Ethereum
Polygon

Integrations Supported

Apollo GraphOS
Avalanche
BNB Smart Chain (BSC)
Ethereum
Polygon

API Availability

Has API

API Availability

Has API

Pricing Information

Pricing not provided.
Free Trial Offered?
Free Version

Pricing Information

$0
Free Trial Offered?
Free Version

Supported Platforms

SaaS
Android
iPhone
iPad
Windows
Mac
On-Prem
Chromebook
Linux

Supported Platforms

SaaS
Android
iPhone
iPad
Windows
Mac
On-Prem
Chromebook
Linux

Customer Service / Support

Standard Support
24 Hour Support
Web-Based Support

Customer Service / Support

Standard Support
24 Hour Support
Web-Based Support

Training Options

Documentation Hub
Webinars
Online Training
On-Site Training

Training Options

Documentation Hub
Webinars
Online Training
On-Site Training

Company Facts

Organization Name

EY

Company Location

United Kingdom

Company Website

www.ey.com/en_us/blockchain-platforms/contract-manager

Company Facts

Organization Name

ChainPact

Date Founded

2022

Company Location

India

Company Website

chainpact.xyz

Categories and Features

Categories and Features

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