Vertiv Upgrades Contract Management System to Power Business Transformation
The technology infrastructure manufacturer migrated from Emptoris to the Icertis Contract Intelligence (ICI) platform.
Objective
Migrate from a legacy contract management system to a new platform capable of supporting Vertiv’s growing business.
Highlights
- Vastly simplified procurement process
- Improved visibility into contracts world-wide
- Significant reduction in missed milestones
- Fewer deviations from pre-approved contract language
Vertiv
Vertiv Upgrades Contract Management System to Power Business Transformation
Business Challenge
When Vertiv was divested from their parent company, Emerson Electric, they seized the opportunity to replace their legacy contract management system, Emptoris. Not only was Emptoris soon to be sunsetted, but Vertiv reported poor visibility into its contracts, not knowing where they were or what they said.
Solution
The initial roll-out, focused on procurement, involved importing a vast library of legacy contracts from Emptoris into the Icertis Contract Intelligence (ICI) platform.Vertiv used the divestiture as an opportunity to identify inefficient processes and replace them with new, streamlined workflows.
Results
The initial phase piloted with 750 contracts, and was deployed in under six months. In addition to procurement contracts, the solution covers NDAs and real estate and logistical agreements. Contract metadata is automatically updated whenever terms are changed.Just a year later, the system successfully manages over 9,000 contracts in eight languages.