Icertis Contract Intelligence for Energy and Utilities

"At MODEC, we are committed to delivering and safely operating high-quality, innovative platforms for the offshore industry. Icertis will enable us to better collaborate with our partners while reducing risk and improving regulatory compliance."

William Main,

Operations Cost and Contract Lead, MODEC Ghana Ltd.

Common challenges.

Today’s energy companies are globally dispersed and rely on a diverse array of vendors and distributors to compete in a highly regulated marketplace. At their core, these business relationships are governed by contracts.

Ultimately, we find that energy companies and utilities face a broad set of contract challenges that span infrastructure and sourcing, risk/obligation management and collaboration with multiple stakeholders. If left unaddressed, these challenges can put energy providers at a competitive disadvantage, expose companies to serious regulatory compliance risks and lead to dissatisfied customers.

In working with some of the world’s largest energy companies, Icertis has identified a number of common contracting challenges:

A lack of visibility into complex contract operations impedes efforts to optimize performance of infrastructure asset management and sourcing, drive energy savings and control costs
Client-provider relationships are governed by strict but complex master agreements, raising risk of missed obligations
Legacy systems and operational inefficiencies slow deals and cause leakage
Fragmented processes and lack of integration between contract management systems and other enterprise systems cause terms negotiated during sales cycle to not be included in final contract

The Icertis solution.

Icertis has implemented enterprise contract management solutions for some of the world’s largest energy companies, leveraging the Icertis Contract Intelligence (ICI) platform combined with our powerful suite of applications.

While the ICI solution is ultimately configured for each customer, our implementations for energy companies typically include:

Role-based Data Access

that allows only those with the right permissions to see sensitive contract information

Deep Tracking and Reporting

on contract performance to drive savings and compliance

Full Obligation Tracking

to ensure contract entitlements are realized (and vice-versa)

Robust API

allow integration into enterprise processes

Collaboration Portal

drive seamless communication and workflow with vendors, customers and other contract partners

Icertis’ energy and utility solutions offer unmatched benefits across the entire enterprise. We handle all contract types, have integration adapters for other enterprise systems, and can ensure that companies continue to maximize the value of their contracts long after each one is signed.

Featured applications and integrations.

With unmatched technology and category-defining innovation, Icertis’ applications, experiences and integrations push the boundaries of what’s possible with CLM.

ICI Sourcing Application

Place contracts at the center of the sourcing process to ensure compliance, minimize risk, and create long-term strategic agility.

ICI Collaboration Portal app

Enable faster contract turnaround time through seamless collaboration.

ICI Obligation Management App

Significantly reduce risks by improving visibility into, and compliance with, all obligations.

Whitepaper

Enterprise Contract Management for Energy and Utilities

With the Icertis Contract Intelligence (ICI) platform, leading energy companies and utilities are adopting enterprise contract management software to optimize business operations, streamline collaboration, and improve compliance.

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Energy & Utilities