Compare OpenText Contract Center vs. Newgen Provider Contracting and Servicing

OpenText Contract Center

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Newgen Provider Contracting and Servicing

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What is OpenText Contract Center?

OpenText™ Contract Center dramatically reduces the time taken for contract cycles and improves overall operational effectiveness. This innovative platform transforms the management of contracts by moving away from disjointed document practices towards integrated and intelligent workflows. It streamlines the entire contract lifecycle, which includes stages such as creation, negotiation, approval, management, and renewal, all through automation. The system promotes smooth collaboration by allowing both internal teams and external partners to access all contracts easily. Moreover, it enhances the contract creation process, manages document workflows efficiently, and strengthens compliance via advanced automation methods. Users benefit from the ability to generate extensive reports that pull together data from multiple sources, such as ERP and CRM systems, providing critical insights that can benefit the whole organization. In addition, the platform can automatically create contracts filled with pertinent terms customized for different business situations, while also permitting changes through pre-approved clauses stored in a clause library. This comprehensive strategy not only streamlines contract management but also significantly improves decision-making and strategic planning across the enterprise, ultimately leading to more effective business operations. Furthermore, the emphasis on collaboration and data integration ensures that all stakeholders are well-informed and aligned throughout the contract lifecycle.

What is Newgen Provider Contracting and Servicing?

Enhance the lifecycle of provider contracts by utilizing automation to effectively manage complicated care delivery models, intricate regulations, and constrained provider networks. It is crucial to uphold compliance with regulations to reduce the chances of facing financial penalties. By promoting the creation and oversight of value-based contracts, providers are empowered to deliver transparent and consistent care to their members. The entire contracting process should be expedited, covering initiation, negotiation, execution, archiving, amendments, and renewals. An automated contract creation system, supported by interview-driven contracting features, can streamline this process. A smart questionnaire can be employed to swiftly generate contracts from pre-defined templates, while integrating features like parallel editing, bind variables, reusable clauses, and templates will further accelerate contract development. Additionally, a systematic and organized approach to managing provider credentialing should be maintained, incorporating case auto-routing and intuitive checklists to decrease the likelihood of errors. This all-encompassing strategy not only boosts operational efficiency but also cultivates stronger relationships with providers, ultimately benefiting all stakeholders involved. Moreover, a focus on continuous improvement and feedback mechanisms can ensure the longevity and adaptability of these practices.