Professional services firm reduces contract risk and improves visibility with the Icertis Contract Intelligence (ICI) platform.
Mindtree is a $400 million global information technology solutions company and a strategic partner to over 40 Fortune 500 enterprises. They employ 11,000 experts to engineer meaningful technology solutions to help businesses and societies flourish.
Mindtree Improves Contract Turnaround Times by 40%
Mindtree wanted to move away from a manual and siloed contracting process for handling its large global portfolio of contracts. The Icertis Contract Intelligence system was designed to meet Mindtree’s unique contract management challenges. It allowed them to manage worldwide consulting business, and delivered measurable results in the areas of cost reduction, improved compliance and timely revenue recognition.
Mindtree
Professional services firm reduces contract risk and improves visibility with the Icertis Contract Intelligence (ICI) platform.
Business Challenge
Mindtree had a large number of customer contracts, created by business units around the globe. The entire contract lifecycle process was manual, which meant that meeting contractual obligations was people dependent.
Solution
Mindtree selected Icertis the Contract Management solution based on its end-to-end functionality, ease of use, and quick time to deployment. The solution was specifically designed to meet Mindtree’s unique contract management challenges.
Results
The Icertis Contract Intelligence system improved contract turnaround times by 40%, resulting in substantial productivity improvements and most importantly, shorter order-to-cash cycles. Different functional areas found it easier to work together. Timely contract renewals had a positive impact on revenue recognition. Mindtree gained tremendous value through cost reductions, and achieved 100% compliance.