Accenture, the consulting firm formerly known as Andersen Consulting, formed ties with I-Many, a maker of contract-management software, to tackle contract automation over online trading exchanges. Accenture said it will become the preferred systems integrator for I-Many's flagship contract-management software--applications that automate the complete life cycle of a contract such as outlining the terms and conditions, addressing revenue recognition and managing renewals.
Accenture consultants will be trained to implement the applications. In turn, I-Many, based in Portland, Maine, will also become Accenture's preferred provider of automated contract-management software. Initially, the two companies will work together to help pharmaceutical and consumer goods manufacturers automate and simplify their paper-based contract-management systems by moving the process over the Web. New York-based Accenture and I-Many said they eventually plan to target other companies in industries such as chemicals and electronics.