Contract Management Challenges for Retailers
Today’s retailers compete in a highly fluid market with tight margins. In order to compete, companies must have full visibility into supplier relationships and sales performance to reduce leakage and optimize operations. Contracts are key to meeting these challenges.
In working with some of the world’s leading retailers, Icertis has identified a number of common challenges:
- Promotions, incentive agreements and Market Development Funds (MDFs) with product manufacturers and wholesalers are difficult to manage at scale across thousands of SKUs throughout their lifecycle
- Collaboration with third parties for contractual commitments like report submissions and claims initiations is slow, leading to a lack of agility when responding to market demands
- Direct and indirect procurement contracts lack the visibility to ensure profit margins are met
If left unaddressed, these challenges have the potential to lead to ineffective sales programs, promotional budget leakage and delayed responses to competitive pressures.
Icertis Solutions for Retail
Icertis has implemented Contract Lifecycle Management (CLM) solutions for some of the world’s largest retailers, leveraging the Icertis Contract Management (ICM) platform combined with our powerful suite of applications.
While the ICM solution is ultimately configured for each customer, our CLM for retail capabilities include:
- Full lifecycle management of promotions and rebates, including incentive terms, budget management for MDFs, and calculation and validation of program performance
- Built-in support for creating and monitoring performance against industry contracts including Vendor Master Agreements, Vendor Program Agreements, and MDFs
- Third-party collaboration portal that enables partner self-service and request-oriented contract lifecycle management
- Integration adapters that pull sales data into ICM while pushing contract terms to sales and distribution systems
- Specialized capabilities to handle contracting for large volumes of SKUs, sales data, pricing terms, tiered discounts, and incentive plans
Icertis’ retail solutions offer unmatched benefits across the entire enterprise. The easy-to-use platform ensures retailers continue to maximize the value of their contracts long after each one is signed.
Learn More About Icertis Solutions
Featured Solutions for Managing Retail Contracts
Within the ICM product portfolio, these solutions enable retailers to drive even more value from their contracts.
ICM Promotions, Rebates & Royalties
Reduce leakage with better product promotion management.
Gain complete visibility into sourcing events, with analysis of bids and proposals.
ICM Collaboration Portal app
Enable faster contract turnaround time through seamless collaboration.