Icertis Contract Intelligence (ICI)
Contract Management – a key requirement in your company
Any company that does not observe contractually agreed clauses, deadlines, amendments or additions throws money down the drain. And the more complex an organisation, the higher the risk of loss.
The central challenge is this: How can you keep track of all important contractual provisions, particularly as they may have been agreed in several languages, are deposited in different directories and apply differently depending on the country or region? Our answer: Icertis Contract Intelligence, ICI for short.
What is Icertis Contract Intelligence (ICI)?
ICI is the AI-supported platform for your global Contract Lifecycle Management, which enables you to cover all types of contract relevant to you, from purchasing to sales to HR and corporate contracts.
With the aid of artificial intelligence, Icertis converts contracts into structured data, which is managed via a central platform. In simple terms, it allows transparent insights to be gained from complex contract texts and suggestions for required action to be generated.
This saves both time and money and makes many decisions easier. Your company’s compliance with regulations and legal provisions will improve.
Why should you decide to opt for ICI?
ICI will support you in measurably optimising critical business processes in the following categories:
Time
ICI networks individuals with contract data, creates transparency and makes important information available at any time. Your time-to-revenue will reduce thanks to shorter negotiating and review phases.
Spend
Contractual agreements have hidden savings potentials. But you need to be aware of them. Increased transparency and preset alerts will help you make sure you don’t waste these potentials.
Risk mitigation
Which contractual obligations do you need to observe and how high are the risks if you don’t fulfil them comprehensively? You can control your contract risks with intelligent risk scores and obligation trackers.
Compliance
ICI does not only help you enhance your regulatory compliance. You can also incorporate your own compliance rules and have them tracked automatically.
Negotiate, create, analyse & report
Use the numerous AI functions to avoid leaving potential inherent in your future contracts untapped.
Industry solutions
There are ICI use cases for all business sectors. Well-known automotive brands use ICI to shorten their time-to-market. The energy sector achieves greater transparency across the entire energy value chain. And the construction industry manages all contracts involved in major projects via a single platform.
Integration of ICI with special procurement and sales solutions
Integration with your procurement platform
You can integrate your SAP Procurement Suite with ICI via SAP Ariba Contracts. What this means for your business is that you link your entire source-to-pay process with your central intelligent Contract Lifecycle Management solution. Integration with SAP Fieldglass and SAP S/4HANA is possible as well.
Integration with Salesforce
Salesforce users can interact with their contracts and contract inquiries without having to leave Salesforce. New contracts and inquiries are initiated directly from the opportunity or account screens. The opportunity or account data can be conveyed seamlessly to ICI, making time-consuming duplicated data input unnecessary. Users can search for, display and track inquiries and contracts in Salesforce based on the ICI authorisation. Measures can be derived directly, ensuring total control via the integration.
Even greater AI power
Icertis offers further applications for optimising your contract management:
- AI Studio will enable you to adapt self-learning AI models to your requirements.
- Use DiscoverAI to match clauses in legacy and 3rd-party contracts to clauses in the ICI library.
- NegotiateAI will analyse your entire contract inventory and derive insights on how to optimise future contract negotiations.
- VisualizeAI will enable you to group contracts by different attributes, such as status or risk level, link them and thus identify patterns.
The Icertis app library is expanding all the time. Simply contact us if you are interested in receiving updates.
Why you should talk to apsolut about Icertis Contract Intelligence
apsolut has its roots in procurement using SAP. We were the first consulting company focusing on SAP SRM and subsequently on areas such as SAP Ariba, SAP Product Sourcing and SAP S/4HANA Central Procurement. Based on years of procurement expertise, we have developed our offering and now provide a comprehensive range of consulting services in the area of Contract Management.
But why would it be in your best interest to join forces with the pioneers? It’s because we will not only provide advice at the technological level, we are process experts as well. The benefit to you is that we won’t tell you about everything that is theoretically possible but specifically about what is useful for your organisation.
This does not mean that we want to downplay the technological aspects. We also know how to integrate your best-of-breed tools to form a functioning ecosystem. Using a lighthearted metaphor, you could say: If things don’t gel with each other, we will invent the right glue. Why not take a look around our apsolut Fluid page?
