Contora is a platform that utilizes active blockchain contracts to create and manage Statements of Work (SOWs), ensuring real-time alignment of project plans with budgets and deliverables. It addresses the inefficiencies of traditional SOWs by providing multi-tier contract visibility, reducing unbudgeted spending, and enhancing supply chain transparency throughout the project lifecycle.
Funding
$245.3K raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Traditional Statements of Work (SOWs) often lead to project delays, unbudgeted spending, and lack of transparency across the supply chain. These inefficiencies stem from static contracts that fail to adapt to real-time project changes and lack multi-tier visibility.
Solution
Contora offers a platform that uses active blockchain contracts to create, manage, and execute Statements of Work (SOWs), ensuring real-time alignment of project plans with budgets and deliverables. By placing the active contract at the center of the project plan, Contora keeps spending aligned with purchase orders and provides a single source of truth for all stakeholders throughout the execution phase. The platform streamlines outsourced project delivery by ensuring consistent requirements and multi-tier contract visibility across the entire supply chain, from contract initiation to PO reconciliation.
Target Audience
Contora is designed for project, finance, and procurement professionals seeking to efficiently create and manage project scopes while ensuring governance during execution.
Features
- Active contract management using blockchain technology for real-time updates and transparency
- Multi-tier contract visibility throughout the supply chain
- Collaborative platform for creating and sharing detailed project scopes
- Spend management tools to align project plans with budgets
- Automated reconciliation of works orders and fees with invoices
- Pre-approval workflow for managing iterative changes
- Integration with existing procurement and finance systems