50 Best Companies to Watch 2022
Rising complexities and growing customer expectations have led to a volatile market. Organizations are on the hunt for innovative solutions that help effectively manage contracts through their lifecycle and mitigate legal risks while saving precious financial and time resources.
Various factors have pushed digitization access and automated contract management into the spotlight. The recent COVID-19 pandemic generated a storm of force majeure as businesses reached a standstill, accentuating the risk of contract failure. And although four out of five force majeure clauses don’t mention “pandemic” or any global health-related crises, force majeure terms were widely reviewed, negotiated, and reframed across organizations and industries of all sizes.
Businesses adopt or create Contract Lifecycle Management (CLM) systems to help streamline and add structure around various aspects of the contract lifecycle, most commonly in contract management software. Some CLM solutions offer a way to affordably impact specific pieces of the process quickly. There is no one-size-fits-all CLM solution—every business has different challenges, requirements, and budgets, so it’s best to find the type of software that aligns with your unique situation.
From commercial agreements to service contracts, all businesses and organizations rely on contracts as a critical component of their business. By optimizing the processes involved in contract management and adopting contract lifecycle management, you have control over every stage of the contracting process, from risk assessment, through onboarding to contract renewal and termination, improving contract performance and value.
Between order and delivery, there are usually opportunities to save money, improve delivery and obtain products that may work better for you at a potentially lower price. There are also ways to lose money, waste time, and end up with a subpar product. CLM can make the difference between these two scenarios.
Terzo Technologies is one of the best companies to provide robust CLM services. Terzo empowers businesses to unlock strategic opportunities hidden within their supplier ecosystems. Terzo’s AI-powered contract intelligence helps customers gain insights that allow them to drive cost savings and reduce risk.
The firm offers more than a platform to centralize data. Terzo is designed to connect teams and break silos for improved collaboration—breaking walls along the way. Strong relationships are key to innovation. Terzo brings supplier data and people together for contextual insights that empower organizations to make smarter decisions, faster.
Terzo means “third” in Italian. Terzo’s founders have Italian heritage and chose it to describe what they set out to build: a platform that brings third parties together.
In conversation with Brandon Card, CEO, and Co-Founder of Terzo Technologies
Q. What is the vision of your organization?
Terzo’s vision is to be the supplier cloud platform for enterprise buyers and change the way customers interact with their suppliers. The goal is to be the supplier command center built on a foundation of contract intelligence.
Q. How do you continue to grow and develop the business?
Terzo continues to invest in the company and our product, each positioning us for scale and success. We’ve recently added proven executives and leaders to our team. We are building partnerships with organizations and customers to support our vision and influence the digital transformation occurring within enterprise businesses. Terzo will continue to invest in the supplier hub concept and aggregate data such as risk, compliance and performance.
Q. Considering the harsh market conditions currently, what plans have you made to pivot the company for future success?
We built the company under harsh market conditions. We launched in March 2020, right before the COVID-19 pandemic started, so we’re accustomed to harsh conditions. We believe helping enterprises optimize costs across their supplier base is critical during times like this. We can help them with fewer human resources.
Q. Why was Terzo started?
We help enterprises drive sustainable transformation.
Terzo unlocks insights so organizations can make smarter decisions and maximize value from their suppliers. Suppliers are more critical than ever, and relationships should be digitized and collaborative.
Q. How do you help companies maximize their teams’ value?
We enable teams to be more productive using AI and automation instead of spending time doing manual tasks. We also provide actionable insights so teams can make smarter decisions faster to save time and money for the organization.
Q. How does “no-code” increase productivity?
Our true no-code workflow engine allows business users to set up processes and approvals such as supplier onboarding and contract renewal approvals within minutes. Teams have increased visibility and can collaborate more efficiently by using Terzo workflows. This results in a 50% reduction in email and 3-5x faster buying cycles.
Enabling businesses to streamline processes and reap benefits
Brandon Card is the CEO & Co-Founder of Terzo Technologies. Brandon spent his career at the largest tech companies in the world, starting his career with Oracle in sales, then moving on to IBM, and most recently, five years with Microsoft. He is an active angel investor and advisor to startups across many industries. Brandon has experience managing Fortune 1,000 clients across many verticals.
Brandon founded Terzo Technologies in 2020—the world’s 1st Supplier Contract Intelligence software platform. Brandon graduated from Syracuse University with a degree in Economics and Finance.