IBM DB2 Viper Set to Extend Reach of Contract Management across Enterprise
Approximately 90% of the valuable data in contractual agreements are unstructured, such as service level agreements, revenue sharing models, intellectual property ownership, fees and penalties. Therefore, the ability of XML technology to work with unstructured data is essential in tapping into this hidden reservoir of information, enabling companies to actively manage and maximize customer, supplier and partner relationships.
Donald Feinberg, vice president and distinguished analyst of Gartner's data management and integration group, explained, "Some of XML's greatest value today lies in enabling enterprises to finally look at their business from beyond the limited view provided by transaction systems, which deal only with structured data. With XML databases, they can now directly work with contract language as well, which is largely unstructured data and contains information not found anywhere else. Because managing contracts (as contract management systems) is such a foundational area of business, XML databases therefore will be critical in driving such things as financial performance, corporate reporting, risk management and other enterprise initiatives."
Nextance Inc., the solutions provider setting the standard for contract performance management (CPM), today announced that it is working with IBM (NYSE:IBM) on the next version of DB2, code-named "Viper", which will support both traditional relational as well as native XML data. IBM has also invited Nextance to demonstrate its XML-based technology at IBM's exhibit at XML 2005 Conference & Expo this week, the largest independent XML conference of the year.
posted by Igor Gramc @ 12:23 AM
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