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Enterprise Contract Management for Professional Services: An Industry Overview

With the Icertis Contract Management (ICM) platform, leading professional services companies are optimizing their projects with unprecedented control over customer obligations and supplier dependencies.

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Contract Management Challenges for Professional Services Companies

Today’s professional services companies operate in a customer-focused environment in which firms must often assess customer-generated contracts for risks and obligations.

If left unaddressed, these challenges have the potential to lead to slower time-to-revenue, dissatisfied customers, and possible legal liability.

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

  • Lack of Customer Relationship Management (CRM) integration impedes intake of customer contracts on third-party paper and slows cycle times
  • Large volumes of third-party contracts require manual review to identify compliance
  • A wide distribution of Statement-of-Work (SOW) and Work Order (WO) operations that lack proper governance under Master Service Agreements (MSAs)
  • Supplier contracts are disconnected from customer contracts, raising the risk of missed deadlines/deliveries due to unforeseen dependencies, especially in situations where work is outsourced
  • Critical project obligations and commitments are difficult to track, and work may deviate from contract rate cards, billing milestones, etc.
  • Insufficient agreement-relationship management for complex contract hierarchies makes it difficult to flow-up and flow-down terms, obligations and financials across the hierarchy

Icertis Solutions for Professional Services

Icertis has implemented Contract Lifecycle Management (CLM) solutions for some of the world’s largest professional services providers, leveraging the ICM platform combined with our powerful suite of applications.

While the ICM solution is ultimately configured for each customer, our CLM for professional services capabilities include:

Icertis’ professional services 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.

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Featured Solutions for Managing Professional Services Contracts

Within the ICM product portfolio, these solutions enable professional services companies to drive even more value from their contracts.

ICM Obligations Management app

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

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ICM DiscoverAI app

Process third-party contracts faster, while reducing risk and improving performance.

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Seamless CRM Integration

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