Seattle, WA, October 23, 2019 – Icertis, the leading provider of enterprise contract management in the cloud, today announced that it was recognized by the Financial Times, the world's leading global business publication, and RSG Consulting as a top ten company globally for its work developing groundbreaking blockchain technology, which empowers companies to leverage contracts to create a more sustainable and ethical supply chain.
The FT/RSG Intelligent Business Awards, now in their second year, recognize outstanding digital transformation effortsin the legal space. Icertis was cited for its work with a leading car manufacturer to deploy the Icertis Contract Intelligence (ICI) platform and the Icertis Blockchain Framework to bring more transparency to the carmaker's extensive supply chain.
"We are elated by the Financial Times' recognition of our work using cutting-edge blockchain technology to solve previously intractable contracting challenges," said Samir Bodas, CEO and Co-founder of Icertis. "The Icertis Blockchain Framework opens up new frontiers in contract management, revolutionizing how companies manage contracts across their value chains–delivering velocity, compliance and value never before thought possible."
As global supply chains become more complex, ensuring contractual commitments to sustainable and ethical practices are met at each link in the supply chain becomes more challenging. Manufacturers want to ensure their suppliers comply with standards and contractual commitments around privacy, sustainability, ethics and labor laws. Suppliers similarly want to prove that they comply, but do not want to expose the details of their subcontracts within the supply chain.
The Icertis Blockchain Framework, built on top of the ICM platform, offers an elegant solution to this problem.
The automaker and its suppliers will place their compliance terms on the blockchain, ensuring that the required terms are present in all contracts constituting the supply chain. Visibility of contracts in the chain is restricted based on privilege so sensitive commercial information is not exposed. This ensures the tracking of commitments across suppliers, enabling a new level of commercial collaboration, visibility and accountability.
Icertis is committed to being at the forefront of this new technology and is working with customers around the globe to leverage blockchain to address real-world business challenges, such as ensuring sustainability across global supply chains, maintaining compliance with complex supplier diversity programs, or even making true outcome-based pricing a reality.
As part of the recognition, Icertis is featured in the FT Intelligent Business insert in today's edition of the Financial Times.
To learn more about the Icertis Blockchain Framework, visit icertis.com.
Icertis, the leading enterprise contract management platform in the cloud, solves the hardest contract management problems on the easiest to use platform. With Icertis, companies accelerate their business by increasing contract velocity, protect against risk by ensuring regulatory and policy compliance, and optimize their commercial relationships by maximizing revenue and reducing costs. The AI-infused Icertis Contract Intelligence (ICI) platform is used by companies like 3M, Airbus, Cognizant, Daimler, Microsoft and Sanofi to manage 6.5 million contracts in 40+ languages across 90+ countries.
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