Aviation Technology and Maintenance Market Leader Chooses AI-Powered Contract Intelligence to Improve Contracting Efficiency and Transparency
BELLEVUE, Wash. – AUG 30, 2022 – Contract intelligence company Icertis announced that Lufthansa Technik AG, the aircraft maintenance business of the Lufthansa Group, has selected Icertis Contract Intelligence (ICI) as its enterprise-wide contract lifecycle management (CLM) solution. The company plans to integrate the Icertis platform with its existing SAP CX solution to strengthen sales and improve compliance, risk management, and efficiency. Lufthansa Technik joins a growing list of companies in the aviation space, including several of the world's top manufacturers and airlines, using Icertis to transform contract management.
Lufthansa Technik is one of the world's leading providers of aircraft maintenance, repair and overhaul, and modification services, managing more than 4,500 aircraft under an exclusive contract. Like many companies, Lufthansa Technik is challenged with increasing uncertainty and competition, particularly as the aviation industry recovers from the effects of the COVID-19 pandemic. As a result, Lufthansa Technik sought solutions to accelerate business transactions and reduce process complexity.
"The Icertis Contract Intelligence platform and the company's deep partnership with SAP will deliver new insights and automated processes for our sales team to speed the drafting and negotiation of contracts. These efficiencies and insights are particularly valuable during economic fluctuations and will help to drive revenue, reduce risk exposure, and gain transparency into the performance of contracts," said Kai-Stefan Roepke, Vice President Corporate Sales EMEA, Lufthansa Technik AG.
Using the AI capabilities in Icertis Contract Intelligence, Lufthansa Technik will digitize the entire contracting process, structure the data in contracts, and connect this critical business data with operational systems. ICI will integrate directly into Lufthansa Technik’s SAP CX system, providing enterprise efficiencies and operational intelligence. The initiatives will extend business insights to more than 1,300 users and help ensure that the intent of every contract is correctly memorialized and fully realized.
"By choosing Icertis’ CLM solution, Lufthansa Technik can have continuous information flow throughout sales opportunities, providing teams with better information, improving forecast accuracy, and achieving more efficient customer management. This contract management transformation will both advance the organization's business and benefit the travel industry ecosystem overall," explained Roman Howe, Icertis Vice President of Customer Advocacy, Europe.
About Lufthansa Technik AG
With some 35 subsidiaries and affiliates, the Lufthansa Technik Group is one of the leading providers of technical aircraft services in the world. Certified internationally as maintenance, production, and design organization, the company has a workforce of more than 22,000 employees. Lufthansa Technik's portfolio covers the entire range of services for commercial and VIP/special mission aircraft, engines, components and landing gear in the areas of digital fleet support, maintenance, repair, overhaul, modification, completion and conversion as well as the manufacture of innovative cabin products.
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 10 million+ contracts worth more than $1 trillion in 40+ languages and 90+ countries.