At Trakti, we are honoured to announce and share the prestigious recognition of special “President’s Award – Designing for the Future” at the Innovation & Excellence Awards 2022 received together with Leonardo, on the 23rd of June 2022 by Word Commerce & Contracting (WorldCC) in London.
“Contract management is a true force for change, it is the entity for change. We all have to make our contribution”… Smart Legal Contracts and Blockchain will radically change access to contracts, their efficiency and the collaborative approach with Customers and Suppliers”.
With these words, Prof. Tim Cummins, President of World Commerce & Contracting last June 23, during the Europe Summit 2022 awarded Trakti and Leonardo the “President’s Award – Designing for the Future” within the “Innovation & Excellence Awards” of World Commerce and Contracting for having built an excellent digital ecosystem using smart legal contracts thanks to Trakti framework. The gala ceremony of the ‘Europe Summit 2022’ took place at the IET London Savoy Place in the stunning frame of the River Thames.
The words of Tim Cummins remarked on the importance of contract management and on its strength towards change. During his speech the President of WorldCC underlined how blockchain and other technologies can fundamentally change the access to contracts, powering their inclusivity and effectiveness. The award was also an occasion to highlight the value of WorldCC which offers the opportunity for its members from all around the world, to talk about several topics related to contracts, researching, advocating, improving capabilities, sharing knowledge and leading practices to embrace change and innovation.
Prof. Tim Cummins concluded his speech by recalling the importance of everyone “being a contributor and leader to the change”. At Trakti, we strongly believe that technological innovation is the real engine to ignite economic growth. The recent Covid-19 emergency has pushed many businesses to quickly identify effective solutions for the survival of their company.
Most companies have faced the emergency with greater dynamism having been invested in innovative solutions. Not only the introduction of new digital technologies but also collaborative work of innovation of processes and procedures can contribute to creating a more agile, smart, and effective environment to easily deal with even the most unexpected events.
Luigi Telesca, Trakti Co-founder and CEO has recently stated that “smart legal contracts play a fundamental role for company automation since they are binder of information and that they can become with the right approach dynamic connectors and process orchestrators for all companies around the world. By automating contracts, we can streamline processes, automate rules and payments, and track all changes, offers, approvals, and reviews making companies more efficient and transparent”.
Trakti is the first end-to-end contract management platform for smart legal contracts offering the possibility to integrate with multiple public and private blockchains. Our compliant platform accelerates the contractual flow and integrates the implementation of Smart legal contracts for the automation of payments and the management of obligations thanks to the power of the blockchain. Automating control with blockchain is the next step in the digital transformation of companies of all sizes and types. Blockchain technology can create greater efficiency while reducing delays, costs and errors.
This technology is transforming the business world, by revolutionising record keeping, automation, security, and traceability. Automating control with blockchain represents one of the key elements for the future of business. The potential of blockchain technology is extensive as it can increase efficiency along the entire contractual settlement process including execution, payment, and dispute resolution. Blockchain is a decentralised ledger that follows the principles of a peer-to-peer network by providing transparency, security, and immutability, effectively improving various business processes, and empowering contract management solutions.
The objective of Trakti is to support businesses in optimising the management and facilitating the automation of their contracts, in a fully compliant way.
Trakti operates in the English, French, Dutch and Italian markets and works with medium and large companies. “Our goal is to explain why Smart contracts will be a key element in the management of relationships and process automation” – Telesca explained.
The award by WorldCC encourages us to continue our commitment to research and development to facilitate digital transformation.
Trakti unified end-to-end platform offers over 30 features and manage contracts from start to end, payments and e-signature included. Trakti smart legal contracts can help to improve compliance, facilitate collaboration, automation and reduce costs and risk. Our user-friendly, fully customizable, and compliant no-code platform, is accessible also to those who have no coding skills.
With Trakti, Contract Lifecycle Management becomes efficient, safe, and traceable. Our smart legal contracts and blockchain infrastructure are an excellent opportunity today for companies to increase operations between the parties, transparency of contractual terms, efficiency through some automation, reducing risk, and improving mutual trust and mutual commitment.
At Trakti, we believe in business innovation and our aim is to continue to promote it as a growth process to ensure the efficient execution of business processes across multiple verticals.