Luminance Features
Key Features of Luminance
Luminance offers a comprehensive suite of features to manage contracts efficiently.
AI Insights Screen: Provides an instant overview of pre- and post-executed contracts, tracking activity across different functions and identifying bottlenecks in the contract lifecycle.
Contract Overview: Displays the number of contracts executed versus under negotiation, enabling business leaders to allocate resources effectively.
Contracting Parties: Identifies the most commonly negotiated contract types and frequency of contracting with specific parties, ensuring supply chain diversification and customer exposure assessment.
Alerts: Notifies users of contract termination dates, ensuring no renewal or upsell opportunities are missed.
Divisions: Allows authorised stakeholders to track activity across different functions, such as HR and Procurement, or subsidiary companies using Luminance.
Time Spent in Platform: Provides insights into individual user statistics, enabling team leaders to track performance according to targets or preferred business outcomes.
Pros
Streamlines contract management
Provides instant insights
Enhances operational efficiency
Maximises revenue opportunities
Cons
May require significant training for effective use
Dependence on AI technology can raise concerns about accuracy
Use Cases of Luminance
Contract negotiation and review
Supply chain management
Revenue optimisation
Operational efficiency improvement
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