Realyst today announced that Mutual & Federal, one of South Africa`s leading short-term insurance companies, had adopted its contract management software.
"We have thousands of contracts to handle within Mutual & Federal," commented Gary Benton of Mutual & Federal. "In order to phase the overall implementation appropriately, we are commencing with our procurement and administration division and will be using the opportunity to establish best practices in this area of our business."
"Governance has become a significant issue for top management within most organisations and contract management is just one part, although a very important one, of this scenario," added Paul Maddison, Director of Realyst.
"Contract lifecycle management is just one aspect of the compliance issue that now face all organisations. However, addressing this part of the complete solution ensures a sound basis for tackling the other phases of this multi-faceted topic. Additionally, unlike other areas of governance, we know that the proper handling of contractual issues will add financial benefits to the bottom line of any company."
Mutual & Federal Insurance Company Limited was formed in May 1970 following the merger of two leading short-term insurance companies, Royal Insurance Group and SA Mutual Fire and General Insurance. This merger led to the emergence of one of South Africa`s largest short-term insurance companies, Mutual & Federal. Mutual & Federal provides personalised insurance service to the personal, commercial and corporate markets in South Africa, Namibia, Botswana and Zimbabwe.
For further information, please contact Paul Maddison: telephone (011) 463 5311, fax (011) 463 7179, e-mail pmaddison@realyst.com.
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