MILFORD, Mass., Nov. 2, 2015 (GLOBE NEWSWIRE) -- Prime Numbers Technology (PNT), long-standing provider of data analysis solutions, and the independent development force behind industry-leading travel reporting and benchmarking platform, Prime Analytics, has today announced the release of its latest data analysis tool: Contract Monitoring. This release marks the second phase of PNT's contract and vendor analysis software, Prime Sourcing, which was unveiled late 2014.
Contract Monitoring is a contract definition tool which builds upon the analytic framework established in Prime Sourcing's first module, Dynamic Analysis. Within the tool, users are guided through an intuitive configuration and contract data loading interface, which provides real-time feedback and validates entries against historical data and PNT's proprietary rules engine. Once contract data and discounts are loaded into Contract Monitoring, they become fully functional components within Dynamic Analysis, offering further dissection and benchmarking of contract performance.
"At its core, Contract Monitoring is an agreement optimization tool," explained Doug Vasquez, Vice President, Software Development at Prime Numbers Technology. "On a corporate direct level, businesses can explore the performance of their current and historical contracts, which can assist in discount negotiation and preferred vendor analysis. Through the interface, corporations can further visualize the 'Where?' and 'Why?' of their current contract performance, and learn exactly which factors can help their company improve, or stay on track."
Travel management companies (TMCs) can also leverage Contract Monitoring to gain new perspective into agency-wide contracts and supplier agreements. By defining targets for their contract and discount goals, TMCs can track the effectiveness of their negotiated agreements to reveal hidden potential for greater ROI, as well as supplier discounts.
"This new module of Prime Sourcing is a powerful tool for corporations and TMCs alike, and we're looking forward to seeing how users interact with the tool," added Vasquez. "We'll be utilizing user feedback to fine-tune the last module of Prime Sourcing – Contract Modeling – which is planned for release in 2016."
Prime Sourcing's first modules, Contract Monitoring and Dynamic Analysis, are available for TMC and corporate commercial licensing now. For more information, including demonstration and licensing inquiries, please visit www.primenumberstechnology.com.
About Prime Numbers Technology
Prime Numbers Technology (PNT) is dedicated to helping clients drive significant savings in business spend through industry-recognized data analytics and benchmarking solutions. PNT is in continuous development for a comprehensive suite of solutions including data analytics and benchmarking, dashboards, policy management, best practices and ROI maximization. PNT technology is licensed by some of the most recognized names in business travel, with global representation by many Fortune 250 corporations and top 10 travel management companies. PNT is a division of Atlas Travel & Technology Group Inc., based in Milford, MA. For more information on Prime Numbers Technology, please visit www.primenumberstechnology.com.
CONTACT: Andrew Carriere Marketing & Communications Coordinator Atlas Travel & Technology Group Inc. +1 (508) 488-1260 Andrew.Carriere@atlastravel.com
Source:Prime Numbers Technology, LLC.