The ICM Sourcing App Built on the Icertis Contract Management Platform Places Contracts at the Center of the Sourcing Process
Bellevue, Wash., September 18, 2017 – Icertis, the leading provider of enterprise contract management in the cloud, today announced the introduction of the ICM Sourcing application, expanding the company’s growing list of business applications built on the Icertis Contract Management (ICM) platform. The pace of business continues to accelerate and leading companies are re-imagining their foundation of commerce. With the launch of the ICM Sourcing app, forward thinking companies now have a foundational contracting platform and sourcing application for the next decade.
The Icertis approach
In today’s high velocity, rapidly changing, complex sourcing environment, procurement organizations must deliver value far beyond cost savings. Reimagining the contract management foundation and placing it in the center of the sourcing process is the key to that transformation – contracts are the single source of truth for the obligations, entitlements and risks in supplier relationships. This approach enables procurement departments to optimize the entire source-to-contract process, ensuring compliance, minimizing risk, improving collaboration in addition to increasing savings.
“To thrive in an era of increasing business velocity, changing regulatory requirements and supply chain risks, procurement organizations must create strategic agility in their sourcing process,” said Samir Bodas, Co-founder and CEO at Icertis. “The ICM Sourcing app leverages the enterprise-wide supplier relationships enshrined in contracts, and applies the ICM platform’s cognitive analytics, compliance framework, and risk management capabilities to proactively monitor contractual commitments and mitigate risks.”
ICM Sourcing Application Addresses Every Stage of the Sourcing Lifecycle
The ICM Sourcing application extends the value of the ICM platform, enabling procurement departments to improve collaboration and compliance at every stage of the sourcing lifecycle. The solution has the following differentiated capabilities:
- Integrated Risk and Compliance – Get full visibility into supplier’s risk profile and ensure compliance throughout the procurement process.
- Cognitive Analytics – Leverage AI/ML based contract terms and clause recommendations to better negotiate RFx events and surface opportunities for savings.
- Microsoft Excel and Microsoft Teams-Based Bid Evaluation and Selection – Use built-in team management capability to unite stakeholders. Perform side-by-side analysis of bids or proposals, and score them with both qualitative and quantitative criteria.
- Full 360 Degree Dashboard of the Supplier Relationship – Get a complete view of supplier relationships including current and past contracts, historical performance and complete risk profile for a unified view of sourcing events.
- Quick Deployment and Intuitive User Interface – Deploy within weeks not months, ensure rapid adoption, and easily to adapt rapidly changing business needs.
To learn about the ICM platform and new ICM Sourcing application, visit https://www.icertis.com/contract-lifecycle-management-platform/specialized-solutions/.
Icertis, the leading provider of enterprise contract management in the cloud, solves the hardest contract management problems on the easiest to use platform. Icertis helps companies transform their commercial foundation ensuring compliance, improving governance, mitigating risk and enhancing user productivity, thereby improving the bottom line. The Icertis Contract Management (ICM) platform is used by 1+ million users at companies like 3M, Abbvie, Cognizant, Daimler, and Microsoft, to manage 3.5+ million contracts in 40+ languages across 90+ countries. With its intelligent workflow and built-in analytics, ICM provides ongoing contractual insights and best-of-breed contract management.
Icertis Media Contact:
Barokas Public Relations for Icertis
Daimler recently deployed the ICM platform and ICM Sourcing app as key foundational elements for their digital transformation which will ensure agility and flexibility across global contracting and sourcing for their passenger cars, commercial vehicles, and financial services divisions.