Contract Intelligence Objective
Contribute to a sustainable future through responsible manufacturing processes supported by advanced contract intelligence capabilities.
Solution Highlights
- Siloed, fragmented contract management systems consolidated onto a single intelligence platform
- Accelerated supplier onboarding and visibility drives agility and compliance to sustainability goals
- Seamless integrations with Salesforce, SAP ECC, and the company’s existing supplier relationship management system drive efficiency and value by connecting contracts to the processes they touch
Business Challenge
For Elkem, a Norwegian-based manufacturer, sustainability is central to what they do. In fact, its stated mission is to “contribute to a sustainable future by providing advanced silicon, silicones and carbon solutions, adding value to our stakeholders globally.”
Recently, the company’s legal and procurement organizations joined together to explore how improved contract insights could further this effort. Contracts define what a company buys, what it sells, and how it runs. Without sufficient visibility into a company’s contracts, however, it can be difficult to leverage contracts in sustainability efforts.
Elkem recognized that it needed a single, advanced contract lifecycle management (CLM) system deployed across its entire organization to provide the level of contract visibility it needed to ensure compliance with internal and regulatory policies. The company wanted a system that could integrate with its other systems and serve as a solution for both its supplier and sales contracts.
The Solution
Elkem chose the Icertis Contract Intelligence (ICI) platform to serve as the single source of truth for all contracts organization-wide.
Elkem selected Icertis for its ability to seamlessly integrate with core business platforms, including Salesforce, SAP ECC, InforM3, and the company’s supplier relationship management system.
To reduce risk and improve agility in its supplier onboarding process, Elkem will use the Icertis Supplier Onboarding and Diversity Compliance Application and the ICI Sourcing Application. The ICI Sourcing Application places contracts at the center of the sourcing process to ensure compliance, minimize risk and get a complete view of supplier relationships.
The Icertis Supplier Onboarding and Diversity Compliance Application will enable Elkem to evaluate suppliers quickly and rapidly onboard them while providing collaboration capabilities to ensure suppliers are compliant with organizational and customer policies, including diverse supplier initiatives.
“Our mission at Elkem is to contribute to a sustainable future by providing advanced silicone, silicon, and carbon solutions, and adoption of new digital capabilities is a central part of our strategy,” said Ole Garborg, General Counsel, Elkem. “We saw significant opportunityto compete more effectively in our global markets by connecting the data in our contracts to commercial and supply chain systems. Icertis’advanced capabilities will drive analytics - based decision making and additional commercial opportunities as we continue to grow.”
