Icertis Adds Former Airbus and BMW Chief Procurement Officer Dr. Klaus Richter to Board of Advisors

Veteran at Driving Unsurpassed Value from Global Supply Chains Joins Contract Intelligence Leader

BELLEVUE, Wash., November 23, 2020 – Icertis, the contract intelligence company that pushes the boundaries of what's possible with contract lifecycle management (CLM), announced today that global procurement expert and former Airbus and BMW Chief Procurement Officer, Dr. Klaus Richter has joined its Board of Advisors.

Klaus brings a wealth of experience in understanding what it takes to build, nurture, and optimize complex global supply chains and ensure they are flexible to ever-changing business needs and worldwide considerations. In addition to strategy, he knows technology will play a key role in ensuring global companies stay on top and ahead of cost and quality of globally sourced parts. His strategic guidance will help keep Icertis ahead of the competition and deliver even more value to our customers now and into the future.

Klaus currently works as an independent, senior advisor in the aviation and automotive industry. He serves on several boards and collaborates with Bain & Company. From 2007 to 2019, he served as a supply chain executive at Airbus Operations GmbH Germany, culminating in his role as CPO, Executive Committee Member, and Managing Director, responsible for all Airbus sourcing, including parts, components, and aircraft systems, as well as services and infrastructure, valued at over €50 billion from over 12,000 suppliers and more than 100 countries. Before joining Airbus, Klaus led global direct purchasing for BMW and was responsible for all equipment and materials for the automotive business. He began his career in 1993 as a professional consultant for McKinsey & Company, working in the automotive, aerospace, electric power, and automation industries, with a focus on business development and operations.

"We are thrilled that Klaus is joining the Icertis Board of Advisors and look forward to his strategic input, especially in these unique times, as we pursue our mission to be the contract intelligence platform of the world," said Samir Bodas, CEO and Co-founder, Icertis. "His decades of experience and deep understanding of supply chain realignment around the world, and the impact of that on sourcing and contracting for both direct and indirect procurement will be invaluable to Icertis. I am eagerly looking to his guidance as we evolve our strategy and products to deliver even more value to our customers."

Klaus has extensive experience in strategic sourcing and has advised numerous manufacturers on the challenges of configuration and demand. He is a champion of lean procurement and was credited with introducing car-making strategies at Airbus, Europe's largest aerospace group. He holds a Ph.D. in Robotics from TU München and served as President of the German Aerospace Industry Association (BDLI) from 2017 to 2019.

“Any large enterprise struggles with the management of large volumes of existing and new procurement contracts in different formats," said Klaus Richter, Senior Advisor and former CPO of Airbus. "Icertis empowers organizations to digitalize, analyze, and organize their content, and proactively manage all dimensions of supplier relations. I have spent my career working with and for global enterprises to refine procurement operations, and I am thrilled to be able to advise Icertis on delivering contract intelligence that empowers companies to build resilient supply chains."

Klaus joins the company as it celebrates its inclusion in Deloitte's Technology Fast 500TM for the second consecutive year. The company's momentum has been marked by global customer wins across key industries, including Auth0, Best Buy, Gateway Health, Porsche AG, and more. Icertis has also been recognized by industry experts, Gartner and Quadrant Knowledge Solutions, and named to several exclusive "Top Company" lists.

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About Icertis
With unmatched technology and category-defining innovation, Icertis pushes the boundaries of what's possible with contract lifecycle management (CLM). The AI-powered, analyst-validated Icertis Contract Intelligence (ICI) platform turns contracts from static documents into strategic advantage by structuring and connecting the critical contract information that defines how an organization runs. Today, the world's most iconic brands and disruptive innovators trust Icertis to govern the rights and commitments in their 7.5 million+ contracts worth more than $1 trillion, in 40+ languages and 90+ countries.

Icertis Media Contact:
Haley Flanagan
Manager of Corporate Communications, Icertis