Business Challenge
This iconic winemaker and wholesale distributor is one of the five biggest wine companies in the world, comprising more than 50 different wine brands and spirits; 10,000 acres of vineyard land; and sales of 20 million cases of wine annually—both wholesale and direct-to-consumer.
To better handle the complexities that come with this volume and variety of consumer products, the organization has sought to improve consistency and repeatability in all its processes. This included contracts: The procurement department recognized that contract review depended on the interpretation of the reviewer.
Contract review was also a difficult process to learn, meaning years of training could be necessary to ensure contract reviewers properly vetted these critical assets.
The Solution
The iconic winemaker selected the Icertis Contract Intelligence (ICI) platform for its advanced AI capabilities, which enable the extraction and interpretation of third-party contracts.
Icertis’ AI has been trained on millions of contracts managed on its platform, delivering category-defining capabilities to quickly identify and extract natural language contract components for review. These capabilities come in addition to Icertis’ unmatched contract lifecycle management (CLM) technology, which empowers companies to get more out of CLM than they ever thought possible and improve their business in ways they never imagined.
Within six months of selecting Icertis, this winemaker had a contract intelligence platform that could ensure the consistency and repeatability it needed to remain a leader in the industry.
Today, their category manager of indirect procurement says the company has immediately found value in the solution.
"It's like having Excel—what did we ever do before we all had Excel?" she says. "Icertis has become a technology that, once it's available, you can't live without it."
