Reduce risk and improve compliance at enterprise scale with the ICI Obligation Management application

Challenges with Traditional Obligation Management

Ensuring contracts perform to their full potential requires parties to deliver on all promises enshrined in them. Non-compliance not only has an adverse impact on performance, but also can expose businesses to substantial risks – including reputation damage, financial loss, and soured partner relationships. Manually managing these promises in the form of obligations, commitments, SLAs, and entitlements enshrined in contract clauses and terms has many challenges:

  • Obligations are often hidden in contract language and must be manually identified and extracted
  • Manual processes are error-prone, not scalable and do not proactively surface obligations
  • Missed obligations hurt performance and reduce the value derived from contracts

Benefits of the ICI Obligation Management App

Built on the Icertis Contract Intelligence (ICI) platform and infused with artificial intelligence, this app transforms how organizations identify, create, manage and fulfill obligations that were previously hidden in complex contract language. This enables businesses to:

  • Operationalize contracts quickly after execution with AI-assisted obligations discovery
  • Significantly reduce risks by complying with all contractual obligations to run a compliant business
  • Reduce costs and save time by automating the obligation lifecycle
  • Improve customer and supplier relationships
  • Leverage insights for better outcomes in contract negotiations & renewals
  • Recover financial compensation for unfulfilled counterparty obligations
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“As one of the world’s leading professional services companies, it is critical we closely manage the obligations enshrined in our contracts,” said Frank Marty, Global Head of CLRM at Cognizant. “Understanding and fulfilling our commitments to customers and realizing the full value of our entitlements is critical to successfully delivering shareholder value. The ICI Obligation Management app will positively impact our bottom line.”

Learn how the Icertis Contract Intelligence Obligation Management App is being used by Cognizant.