Bertelsmann is an international media, services and education company with global operations and €17 billion in annual revenue. Recently, its Group IT began investigating how it could improve the management of its sourcing contracts. As a global company, Bertelsmann was searching for a Contract Lifecycle Management (CLM) solution that provided a single source of truth for contracts from negotiation to signature to expiry.

Following an extensive RFx process, the Icertis Contract Intelligence (ICI) platform emerged as the clear choice. The selection team was impressed by ICI’s ability to handle the entire contract lifecycle: templating, negotiation, contract authoring, approval, signature (including e-signing), storage and analysis.

Today, Meyer says, users can find the contract templates they need and send them out for signature without having to worry whether they are updated with the latest language.

“If it’s in the system, you don’t need to call a lawyer for an NDA,” he says. “This is important for using expert resources like lawyers or tax experts efficiently.”