Are You Maximizing the Value of Your Contracts?
As your contract management capabilities grow, you’ll experience dramatic improvements in speed and efficiency. Answer these 10 questions to determine your current contract maturity stage.
- Basic
- Intermediate
- Automated
- Integrated
- Optimized
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Yes
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No
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Basic
CURRENT CAPABILITIES
Contracts are created using spreadsheets or word documents, and stored in one or more simple repositories across the enterprise.
COMMON ISSUES
Contract management is a 100% manual process. Lacking standardization or any kind of meaningful controls, the system wastes time, money and resources, while exposing the enterprise to unnecessary risk.
UPGRADE TO INTERMEDIATE TO
Add search and other functionalities to benefit from improved efficiency.
Intermediate
CURRENT CAPABILITIES
Ability to identify duplicates, conflicts, obligations and rights with reports that are tied to transaction systems.
COMMON ISSUES
Although some controls are in place, the contract management process isn’t fully automated across all the steps, from authoring to optimization.
UPGRADE TO AUTOMATED TO
Add automation features to improve usability and realize significant productivity gains.
Automated
CURRENT CAPABILITIES
Simple workflow controls provide an ability to author contracts in compliance with legal standards and corporate guidelines.
COMMON ISSUES
Limited integration restricts the visibility into the process, making it difficult to identify areas for improvement.
UPGRADE TO INTEGRATED TO
Add detailed analytics to gain insights into every aspect of contract performance, make informed decisions and identify areas for improvement.
Integrated
CURRENT CAPABILITIES
More complete and effective compliance controls with contractual benefits and commitments.
COMMON ISSUES
Though the functionality is robust, the contract management system doesn’t scale across the entire global enterprise.
UPGRADE TO OPTIMIZED TO
Add the ability to adapt to changing business conditions, and receive the maximum business value from every contractual relationship.
Optimized
IT LOOKS LIKE YOU’RE ALREADY AN ICERTIS CUSTOMER!
You have full visibility and control over the entire process, from authoring and renewals to administration and optimization.
You have full integration into supply chain and revenue management systems, with the ability to make changes easily.
You can manage any type of contract, anywhere in the world, from one platform.
Icertis Is a Leader with the Highest Score in Current CLM Product Offering, According to 2019 Forrester Wave
- Icertis was ranked alongside 12 other vendors. The Icertis Contract Management (ICM) platform received the highest 5.0 score possible in 17 out of 22 current offering criteria–more than any other vendor evaluated.
- “Its contract creation, contract repository, contract approval, contract fulfillment tracking, importing of existing and third-party contracts, and support for both buy-side and sell-contracts continue to be outstanding,” the report notes about ICM.
- Icertis also received a 5.0 in customer reference.
Get the report
Icertis, the leading enterprise contract management platform in the cloud, solves the hardest contract management problems on the easiest to use platform. With Icertis, companies accelerate their business by increasing contract velocity, protect against risk by ensuring regulatory and policy compliance, and optimize their commercial relationships by maximizing revenue and reducing costs. The AI-infused Icertis Contract Management (ICM) platform is used by companies like 3M, Airbus, Cognizant, Daimler, Microsoft and Sanofi to manage 6.5 million contracts in 40+ languages across 90+ countries.