Conga Launches First “Truly Open” RLM Platform

Recently, market leader in Revenue Lifecycle Management (RLM) Conga announced its new Conga Advantage Platform, promising to deliver a complete, customer proven, and open solution that integrates with customers’ business infrastructure via connectors and a comprehensive open API.

The Conga Advantage Platform will allow companies to capture more revenue, increase profit, manage obligations, win more deals, and deliver a faster, more responsive customer experience. Additionally, the RLM platform enables business leaders to easily and fully understand contractual obligations, the revenue impact of product decisions, and identify missed opportunities to maximize revenue capture from new and current customers.

“We’re very excited and proud to deliver on our vision for an open and integrated RLM platform and bring this groundbreaking solution to market. The speed at which our team executed this launch is a testament to our commitment to innovation and customer success,” said Grant Peterson, Chief Product Officer of Conga. “We’re proud of the impact that Conga solutions already have for our customers, enabling them to reap the benefits now of gaining full control over and visibility into revenue optimization opportunities to unlock new efficiencies, scale with agility, and drive meaningful outcomes in their businesses.”

Components of the Conga Advantage Platform

This new RLM platform consists of a single, consistent data model that connects every revenue business function and powers the adoption of AI capabilities to accelerate product sales, legal review, product fulfillment, revenue and service billing, and product renewals which result in closing deals faster, at lower cost, and with a higher renewal rate.

Furthermore, the platform is powered by a unified revenue data model, complete revenue intelligence, and purpose-built AI that helps organizations address their most complex revenue-related contract questions across departments. The platform handles the following tasks across departments:

• Legal: Identifies risks faced across the contract portfolio while ensuring strict compliance without slowing down sales cycles.
• Sales: Pinpoints which customers are best suited for cross-selling or upselling, and with what offerings while understanding the options for price increases.
• Procurement: Determines which contracts should be consolidated under a single supplier based on terms and volume pricing discounts.
• Finance: Distinguishes which contracts should be consolidated under a single supplier based on terms and volume pricing discounts.
• IT: Uncovers how to eliminate integration challenges and reduce cost structure.

“This first fully open and integrated Revenue Lifecycle Management platform from Conga marks a pivotal moment for companies seeking to optimize their revenue operations,” said Noel Goggin, CEO and Culture Leader at Conga. “With the ability to seamlessly integrate multiple functions through the Conga Advantage Platform, businesses can drive more revenue, attract new customers, and extend the lifetime value of existing relationships. This launch represents our dedication to helping customers achieve sustainable growth by equipping them with the tools they need to stay competitive and thrive in today’s fast-paced market.”

Additionally, the platform opens the door for accelerating positive business results with embedded AI, which includes:

• AI capabilities that quickly summarize contracts and find answers with ease.
• Automated contract review, risk scoring, redlining, and table extraction.
• Self-service custom multilingual models.

AI capabilities are being included in various solutions and platforms from leading IT services providers. Read more about what considerations your organization should have on an AI journey.