Vertiv Upgrades Contract Management System
to Power Business Transformation

The technology infrastructure manufacturer migrated from Emptoris to the Icertis Contract Management (ICM) 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

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. The RFP issued for the project included over 250 business requirements. By collecting all contracts in a single repository, the company hoped to create a more structured process around contract authoring, as well as improve control over the entire contract lifecycle.

The new system had to be easy to use, and needed the capability to manage contracts in eight different languages, including Chinese.

Solution

The initial roll-out, focused on procurement, involved importing a vast library of legacy contracts from Emptoris into the Icertis Contract Management (ICM) platform.

Vertiv used the divestiture as an opportunity to identify inefficient processes and replace them with new, streamlined workflows. This would have been impossible without the enhancements provided by the ICM platform. The existing contracts were evaluated to determine which clauses to discard, and which ones to use as templates going forward. The new system simplified contract management from end to end.

With the new system in place and running smoothly, the company’s associates had time to focus on strategic initiatives designed to drive growth. As a result, Vertiv can build healthier relationships with both customers and suppliers.

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.

In the future the company plans to leverage their new platform to rollout phase two: a vendor contract management solution for Central and Latin America that will use artificial intelligence to identify metadata in third-party contracts.

Download the case study

ICM Toolkit

Everything you need for a thorough evaluation of a CLM Solution.

ACCESS RESOURCES

See Icertis in Action

Attend a demo to experience the full functionality of the ICM platform.

REGISTER NOW

Get Started

Talk to one of our contract management specialists.

Contact Us