8over8 releases update of contractual risk management solution
LONDON -- International software firm 8over8 Ltd. has launched ProCon 2014, the latest release of its flagship contractual risk management solution. ProCon 2014 enables owner-operators of large capital projects to establish a commercial firewall against value leakage from mismanagement of unforeseen change orders, missed contractual obligations and poor interface management of the portfolio of capital project contracts.
ProCon 2014 embeds discipline in the management of project contracts through standardization of the language and terminology that underpin contractual communications; a comprehensive communication audit trail; and automated monitoring of obligations and risk. Actionable analytics and predictive insights give advance warning of potential overruns and change requests that require management attention.
The solution is available globally and can be deployed on premise, or via a privately managed cloud delivered by both 8over8 and authorized partners. According to 8over8, ProCon is deployed in more than 60% of the world’s most capital-intensive energy projects.