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EY OpsChain Contract Manager

Revolutionize how you manage contracts using blockchain technology.

As digitally enabled businesses scale globally, so do their contractual engagements. Often contracts are signed only to have important details forgotten when the contract is implemented. EY OpsChain Contract Manager (OCM) revolutionizes how enterprises help manage their contracts by harnessing privacy-enabled blockchain technology to streamline processes and enhance transparency.

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Contract Wizard

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User-friendly interface to assemble contract terms into a customizable business flow.

Streamline the creation of contracts through a no-code interface, helping enable collaborative customization, role definition, event chain design, and external input integration.

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Contract Privacy

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Using the latest privacy technology across the power of public blockchain.

Implement the power of zero-knowledge proof methodology to help provide critical contract terms, transaction details, and value chain confidential information remain shielded, granting enhanced privacy.

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Real-Time Monitoring

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Real-time checks

Automatically help reconcile contract terms with real-time checks, monitor policy adherence, and receive instant alerts on discrepancies, while helping prevent transactions not compliant with the contract terms from passing through.

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Plug in and play

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Experience the ease of integration with API-enabled features, including compatibility with Electronic Data Interchange (EDI) messages. Seamlessly plug into the world of OCM, effortlessly integrating with your existing systems.

Build, test, and deploy directly from the developer environment through the robust API, gaining a full control over your contract management processes.

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Dynamic Parameters

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Integrates adaptable parameters into contracts.

This allows automatic adjustments to shifting market conditions and other variables. Value: Keeps contracts relevant and equitable over time without manual renegotiation, saving time and preserving the integrity of agreements.

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With Privacy

EY OpsChain Contract Manager plans

Basic

Plan for applications with low volume of transactions

Polygon or Ethereum

Private smart contract deployment

External System Integration

900 transactions/month

Multiple Contract Templates

Administrator console for managing API usage

Standard support

US$ 900/month*

* The price includes gas fees when running on Polygon network

Paid monthly / 12 Months subscriptions

Enterprise

Plan for enterprises running high volume of transaction

Polygon or Ethereum

Private smart contract deployment

External System Integration

Tailored transactions/month

Multiple Contract Templates

Administrator console for managing API usage

Standard support

Standard SLA’s

Paid monthly / 12 Months subscriptions

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Efficient contract management

OCM simplifies the contract management process. By removing intermediaries and Increases organizational efficiencies, OCM helps make contract processes fast and cost-effective.

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Reduce value leakage

Build contracts that helps to confirm every transaction aligns with the agreed-upon terms, effectively safeguarding against value leakage and that maximum value is derived from every agreement.

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Enhanced transparency and trust

OCM helps make sure that every transaction is securely and transparently recorded on a public blockchain. Providing tamper-proof records, giving stakeholders confidence in the integrity of every agreement.

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Error mitigation

OCM is designed to alert users of any discrepancies in real-time. By stopping transactions that deviate from the agreed contract criteria, OCM effectively prevents erroneous contract fulfilment, safeguarding the interests of all parties involved.

Thought Leadership

Explore what EY leaders have to say and learn how blockchain could help your organization.

The team

Paul Brody

EY Global Blockchain Leader

Konstantin Nikolaev

EY OpsChain Global Product Manager

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Frequently Asked Questions (FAQs)

Blockchain is a type of distributed ledger technology that allows data to be stored across multiple systems in a secure, tamper-proof manner. It stores data in blocks, each one linked to the next via cryptographic signatures, creating a chain. This chain ensures that records cannot be altered without the changes being visible to all participants. Blockchain provides the foundational elements that support OCM.

Implementing a blockchain-based solution for contract management like OCM has several benefits. Often, once a contract is signed, those involved in executing the contract sometimes cannot easily recall the details of the agreement. OCM fosters transparency and traceability, helping provide all parties with one version of the truth. Smart contracts efficiently automate the enforcement of terms, which reduces the likelihood of dispute. Furthermore, with Zero-Knowledge Proof technology (ZKP), confidential information can be validated without exposing the data, ensuring privacy is maintained. Blockchain’s immutable nature, meanwhile, provides a reliable audit trail, enhancing accountability and confirming any decisions made are based on current and complete contract information.

OCM is designed to handle a wide range of contracts, including sales, procurement, and partnership agreements. Its versatility makes it suitable for a comprehensive number of industries and business models.

OCM uses ZKP technology to help provide privacy of all contract terms and conditions. This cryptographic method allows parties to verify the accuracy of information without revealing the information itself.

OCM integrates seamlessly with ERP systems using Electronic Data Interchange (EDI). EDI allows for the structured transmission of data between different software systems, effectively enabling OCM to exchange necessary contract data with existing ERP systems.

While OCM streamlines contract management and increases transparency, it is not a replacement for ERP systems or other business operation systems. It won’t automate routine tasks or replace human decision-making. Rather, its primary function is to help improve accuracy and consistency in contract execution and compliance, thereby reducing errors and inefficiencies.

OCM can benefit various industries that rely heavily on contract management, such as manufacturing, retail, healthcare and finance, among many others.

OCM is highly versatile, with use cases across a multitude of sectors. In the procurement industry, it can handle complex multi-party contracts, enabling efficient tracking and execution of agreed terms. For royalty and subscription management, it helps ensure accurate and timely disbursement of payments, according to contract terms. Power Purchasing Agreements (PPA) can benefit from OCM by securing the agreed energy transaction terms and prices. In the insurance sector, OCM can streamline policy management and claims processing. Overall, any industry or sector that relies on complex contractual relationships can benefit from the transparency, accuracy and efficiency offered by OCM.

No, your vendors don't necessarily need to have their own OCM license to achieve benefits. OCM is designed to streamline the contract management process primarily for the license holder. However, having both parties on the OCM platform can amplify the collaborative, transparency, and efficiency benefits. Vendors can still interact with your smart contracts and follow the terms defined, even if they're not OCM license holders. But, for a more seamless and integrated experience, it is recommended for key partners and vendors to also consider adopting OCM.

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EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients.