Skip to content
Contract Lifecycle Management – Icertis
  • Platform
    • ICI Platform
    • Business Applications
      • Clinical Trials
      • Collaboration Portal
      • GDPR Compliance
      • Matter Management
      • Obligation Management
      • Rebates and Promotion App
      • Proposal Management
      • Risk Management
      • Sourcing
      • Supplier Onboarding
      • Supplier Relationship Management
    • Experiences
      • Coupa
      • Microsoft
      • Salesforce
      • SAP
      • Workday
    • AI Applications
      • AI Studio
      • DiscoverAI
      • NegotiateAI
      • VisualizeAI
    • Blockchain
  • Solutions
    • Department Solutions
      • Corporate
      • Finance
      • Legal
      • Procurement
      • Sales
    • Industry Solutions
      • Consulting and IT Services
      • Distribution
      • Energy and Utilities
      • Federal
      • Financial Services
      • Healthcare Payer
      • Healthcare Provider
      • Life Sciences | Medical Technology
      • Manufacturing
      • Pharmaceutical
      • Retail
      • State & Local Government
      • Technology
      • Transportation
  • Customers
    • Customers
      • Best Buy
      • Daimler AG
      • Microsoft
      • Sanofi
      • Wipro
      • See All
  • Our Partners
    • Our Partners
      • Adobe
      • Microsoft
      • Salesforce
      • SAP
      • Workday
      • See All
  • Resources
    • Featured Resources
      • Analyst Reports
      • Blog
      • Case Studies
      • eBooks
      • Icertis CLM Toolkit
      • ICI Academy
      • Podcasts
      • Videos
      • Webcasts
  • Company
    • About
      • Leadership Team
      • Board
      • Corporate Responsibility
      • Careers
      • Events
      • Media Kit
      • Newsroom
    • Why Icertis?
      • Bold Vision
      • Enduring Commitment
      • Unrivaled Expertise
  • Links
    • Demo
    • Contact Sales
  • Platform
    • ICI Platform
    • Business Applications
      • Clinical Trials
      • Collaboration Portal
      • GDPR Compliance
      • Matter Management
      • Obligation Management
      • Rebates and Promotion App
      • Proposal Management
      • Risk Management
      • Sourcing
      • Supplier Onboarding
      • Supplier Relationship Management
    • Experiences
      • Coupa
      • Microsoft
      • Salesforce
      • SAP
      • Workday
    • AI Applications
      • AI Studio
      • DiscoverAI
      • NegotiateAI
      • VisualizeAI
    • Blockchain
  • Solutions
    • Department Solutions
      • Corporate
      • Finance
      • Legal
      • Procurement
      • Sales
    • Industry Solutions
      • Consulting and IT Services
      • Distribution
      • Energy and Utilities
      • Federal
      • Financial Services
      • Healthcare Payer
      • Healthcare Provider
      • Life Sciences | Medical Technology
      • Manufacturing
      • Pharmaceutical
      • Retail
      • State & Local Government
      • Technology
      • Transportation
  • Customers
    • Customers
      • Best Buy
      • Daimler AG
      • Microsoft
      • Sanofi
      • Wipro
      • See All
  • Our Partners
    • Our Partners
      • Adobe
      • Microsoft
      • Salesforce
      • SAP
      • Workday
      • See All
  • Resources
    • Featured Resources
      • Analyst Reports
      • Blog
      • Case Studies
      • eBooks
      • Icertis CLM Toolkit
      • ICI Academy
      • Podcasts
      • Videos
      • Webcasts
  • Company
    • About
      • Leadership Team
      • Board
      • Corporate Responsibility
      • Careers
      • Events
      • Media Kit
      • Newsroom
    • Why Icertis?
      • Bold Vision
      • Enduring Commitment
      • Unrivaled Expertise
  • Links
    • Demo
    • Contact Sales
Blog hero image
Home > Blog > How Better Contract Management Software Accelerates Time to Revenue
Contract Intelligence Blog

Mar 23, 2018

Anand Veerkar

How Better Contract Management Software Accelerates Time to Revenue

  • Businessman talking on cell phone and writing in office

The pace of commerce is accelerating, and today’s organizations face ever-growing demands to deliver faster time to revenue—the length of time from when contract negotiation starts to when it begins to generate income for the business. If a business deal takes twice as long to complete because of a suboptimal contracting process, it doesn’t just mean lost time; it also means lost revenue.

Contracts are foundational to commerce, governing every dollar coming in and going out of the enterprise. Yet inefficient contracting processes remain a common challenge for organizations.

Automating these processes helps organizations accelerate time to revenue. Sixty-three percent of companies with the right contract management software report faster and more profitable negotiations.

Consider the following examples of Lufthansa AirPlus, a leading provider of payment solutions for the day-to-day management of business travel, and MindTree, an information technology solutions company:

Accelerated Time to Revenue in the Real World

Lufthansa AirPlus, which handles 167 million transactions per year for 49,000 corporate clients in 60 countries, wanted to transform its lead-to-cash process to more aggressively compete in the rapidly moving financial services market. In December 2017, the company selected the Icertis Contract Management (ICM) platform to serve as the contracting foundation for its global sales operations’ digital transformation.

One advantage offered by ICM is seamless integration with other vendors, including PROS configure-price-quote and VeriPark digital customer experience applications. These integrations create end-to-end solutions that enable companies’ sales teams to create contracts with a single click and manage associated workflows.

According to AirPlus executives, by streamlining the contracting processes, AirPlus will decrease operating costs and improve contract turnaround for their field sales teams.

“The ICM platform equips our team with an intelligent, enterprise-wide solution that allows us to optimize our commercial relationships and speed time to revenue,” said Spencer Hanlon, Chief Operating Office at AirPlus International.

In a similar case, the global information technology solutions company MindTree was relying on a manual contract lifecycle process that was entirely people-dependent. Without a centralized repository, it was difficult to track commitments, expiries and other milestones.

With ICM, MindTree was able to improve contract turnaround times by 40 percent, resulting in substantial productivity improvements and shorter time-to-revenue cycles.

Reserve a Live Demo Seat

The Icertis platform helps organizations boost contract velocity, decrease operating costs, reduce risk, and shorten time to revenue. It also accelerates contract development by automatically suggesting the correct structure for each agreement, and by improving negotiation governance with redlining and version management.

Interested in learning more? Join us for a live group demo to see how your organization can accelerate the pace of business with Icertis. Reserve your seat today.

Icertis Remains a Leader in the Q1 2021 Forrester Wave

Icertis has again been recognized as a Leader in the Forrester Wave: Contract Lifecycle Management For All Contracts Q1 2021 report. This is the second consecutive Wave report to recognize Icertis as a Leader. Read the report and learn more about the impact of CLM and why Icertis has been named a Leader.

Download the 2021 Forrester Wave Report

2019-06-04T20:38:15-07:00
❮Prev
Blog
Next❯

Explore more topics

  • Artificial Intelligence (AI)
  • Blockchain
  • Company Updates
  • Contract Intelligence
  • Contract Management Software
  • COVID-19
  • Icertis Culture
  • Industry News & Insights
  • Legal
  • Partner Stories
  • Risk and Compliance
  • Sales
  • Sourcing
  • Success Stories
The recognized analyst leader for CLM.
  • See a Demo
  • Contact
  • Platform & Software
    • Contract Management Platform
    • Blockchain Contract Framework
    • Customers
    • Experiences
    • Our Partners
    • Support
  • Solutions & Applications
    • AI Applications
    • Business Applications
    • CLM Solutions by Department
    • CLM Solutions by Industry
  • Resources
    • Analyst Reports
    • Blog
    • Case Studies
    • COVID-19 Resources
    • eBooks
    • Icertis CLM Toolkit
    • Icertis Group Demo
    • Podcasts
    • Webcasts
    • What is CLM?
    • What is Contract Management?
    • What is Contract Management Software?
  • Company
    • About Icertis
    • Awards
    • Careers
    • Contact
    • Leadership Team
    • Board Members
    • Events
    • Foundation
    • Newsroom
    • Media Resources
    • Why Icertis
  • English

© Copyright 2022 Icertis. All rights reserved.

  • Privacy Statement
  • Disclaimer
  • Cookie Policy
  • Sitemap