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OpenSource Inc. Announces OSCM3, Next Generation Contract Management

OSCM3 Sets the Bar for Flexible, Cost Effective CLM Implementations

8 April 2015, Foster City, CA. openSource Inc., a developer of SaaS Contract Lifecycle Management solutions, announces availability of OSCM3. "OSCM3 takes CLM customizability, ease of implementation and speed of implementation to an entirely new level", states Yakir Green, head of R&D at openSource. “It also includes a wealth of new functionality”.

“The philosophy of openSource has always been to flexibly adapt to customer business processes, while embracing contract management best practices” states Rick Mellor, openSource VP of Sales and Marketing. “Too many CLM solutions require customers to accept their “canned” processes and methodologies, including pre-defined database fields and document types, require a huge upfront investment with long implementation cycles and are difficult to change once implemented. OSCM3 is the antithesis of “canned”, offering a tabula rasa approach, but without issues related to working from a completely blank slate. If an openSource customer has a business process that works, openSource replicates it. If a customer is seeking business process improvement which reinforces best practices, OSCM3 can be used to great advantage. Not only is implementation extremely fast, but openSource’s administration tools allow customers to extend and change their solutions easily. Combined with openSource's historic intuitiveness and ease-of-use, OSCM3 capabilities translate into an extremely fast Return on Investment (ROI) and the opportunity for dramatically improved operational efficiency”

“OSCM3 uses a true multi-tenant architecture” states Nathan Brand, openSource VP of Engineering. "It uses a common underlying framework leveraged across all customers, but with an easy ability to flexibly customize customer front ends. Each customer also uses its own separate instance of the openSource database, so its data is securely isolated from that of other customers. OSCM3, currently available in English, Spanish and Hebrew, also utilizes a database which supports 190 international languages. When uploading a text or MS Excel document in any one the 190 supported languages, during document uploading OSCM3 OCR’s, indexes and then recreates each document as an HTML document, allowing easy document comparisons (i.e. between MS Word and scanned PDF’s docs, as one example), but also provides the ability to find words, values, phrases, terms of art or specific legal language within documents that are hyperlinked to the actual highlighted location in each document. This can be accomplished across document data sets that may comprise tens of thousands of documents.”

“OSCM3 is in use at new and current customers, available as a free upgrade to existing customers through their openSource licensing, an extraordinary value that our upgrade program affords”, states Zvi Margalit, openSource CEO. “We are truly excited by the opportunity that OSCM3 provides to support highly diverse contract management requirements. With the release of OSCM3, I see exciting possibilities for exceptional openSource growth.

openSource Inc. is a privately held corporation based in Foster City, CA, with East and West coast offices in the US and offices in Israel. For more information please contact Rick Mellor at rick.mellor@opensourceinc.com. www.opensourceinc.com

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