Mercedes-Benz Drives Enterprise Transformation with Icertis Contract Intelligence
Iconic automaker gains efficiency and performance with a smarter approach to contracts
The Challenge
Mercedes-Benz, the luxury German automotive manufacturer, competes in a market defined by disruption. Constantly facing new competitors, new regulations, and new technologies. To stay out in front of this revolution in the car industry, they recognized the need to rethink the systems that run their business.
“What we figured out is you need the revolution behind that revolution, and that’s the enterprise transformation that’s all about digital,” says Jan Brecht, Chief Information Officer of Mercedes-Benz.
The Solution
This digital transformation began with their contracts and the supplier relationships they defined. The carmaker needed a system that could provide a single source of truth for all contracts, provide data insights across those contracts, and enable it to ensure suppliers were performing against their commitments.
Benefits
With the Icertis Contract Intelligence (ICI) platform, Mercedes-Benz was able to decrease its contract turnaround time by 83%, moving from an average of six weeks to just one. The company was able to centralize contract data from over 500,000 suppliers and connect that data across enterprise systems.
In the future, Brecht says, forward-looking analytics provided by ICI will allow them to track patterns in contract data that will help them realize value for years to come.
