Icertis Partner Deloitte to Manage Solution Integrations and Deployment,
Helping EMAG Also Address Compliance and Risk Management Challenges
FRANKFURT, Germany – December 15, 2021 [Translated from German] – Icertis, Inc. the contract intelligence company that pushes the boundaries of what’s possible with contract lifecycle management (CLM), is now welcoming the EMAG Group, another German mid-size company, as a new customer. The mechanical engineering company from Salach, near Stuttgart, will use Icertis Contract Intelligence (ICI) to optimize contract processes in purchasing and sales, as well as address growing challenges in the areas of compliance and risk management.
The CLM solution will be integrated with EMAG’s SAP ERP software, with long-standing Icertis partner Deloitte managing the ICI integration and phased deployment. Upon completion of the implementation, 300 employees in sales and purchasing functions worldwide, spanning subsidiaries, will use the Icertis solution.
Like many other companies, the Swabian machine tool company is looking to contract intelligence to address a multitude of challenges. In addition to gaining greater business agility and speed, EMAG expects to improve compliance to address requirements from regulations such as the Supply Chain Act, and to minimize risks in national and international supply chains. Icertis contract intelligence helps companies to identify these risks already in the draft of contracts, to standardize contractual clauses accordingly across all agreements, and to minimize them in new contracts.
“We chose Icertis because ICI delivers value well beyond traditional CLM,” explains Jonas Woern, Finance Director of EMAG. “For us, the integration into our SAP system, as well as robust AI capabilities, are of great importance because they make our contract management much more productive. Additionally, ICI frees the teams in purchasing and sales from complex processes to set up contracts, to check clauses for their current validity, and much more. This provides a significant relief so that they can concentrate on their respective core tasks.”
The integration of Icertis into EMAG’s SAP system simultaneously integrates the contents of the contracts such as delivery conditions, prices and discounts, quality, service level agreements and other provisions, directly into the software for corporate management. Leading the SAP integration project, Deloitte has ensured that EMAG can more easily manage the obligations and entitlements within its contracts with customers and suppliers.
“The ability to more efficiently manage existing and third-party contracts played a major role for us in selecting Icertis,” says Woern. “We will be using the Icertis DiscoverAI app to automatically digitize our legacy and third-party documents, accurately extract their attributes and clauses directly into the ICI platform, and integrate them into SAP. This contract modernization will give us a complete picture of our obligations so that we can operate much more flexibly than in the past.”
Deloitte, an experienced professional services partner of Icertis, is responsible for the implementation of the project. “We have been working with Icertis in the CLM environment for several years. In this context, we advise our clients holistically on processes, data structures, and operating models along the value chain,” reports Mathej Jasniak, Director and CLM Lead, Deloitte. “It is important to us to implement sustainable solutions that will withstand regulation as well as economic dynamics.”
“With EMAG, we are now proving that CLM in the cloud also offers real added value for medium-sized companies. and not only for our large customers, such as Bertelsmann, Daimler, and Porsche,” says Martin Mohr, Vice President Business and Alliances, EMEA at Icertis. “Mid-market businesses are the engine of the German economy and can greatly benefit from intelligent contract management to automate and accelerate some administrative tasks. This transformation strengthens companies in global competition.”
About the EMAG Group
The EMAG Group is one of the few manufacturers of manufacturing systems that can cover the entire process chain from soft to hard machining. With access to a very wide range of technologies (turning, drilling, milling, gear cutting, grinding, laser welding, induction hardening, ECM deburring, PECM machining, automation), EMAG realizes complete process chains in the areas of transmission, engine and chassis component production as well as in the non-automotive sector. The traditional company based in Salach, Germany draws on the extensive experience of all companies gathered at the EMAG Group and offers its customers modular turnkey manufacturing solutions at the highest level.
Based on the latest technology and innovation, Icertis is setting new standards worldwide for intelligent contract management in the cloud. The basis for this is the Icertis Contract Intelligence Platform (ICI), which is based on artificial intelligence. In this way, static documents become business-critical decision-making bases that structure and bundle information and thus form the basis for strategic decisions. World-renowned brands rely on the Icertis platform, which manages more than 10 million contracts worth more than $1 trillion in more than 40 languages and more than 90 countries.