Supplier Relationship Management For Contracts

Optimize your business value chain for the long term while reducing risk, cycle time, and compliance burden with 360-degree supplier relationship management.

The Challenge

Long Cycle Time and Low Visibility Due to Disconnected Vendor Management, Sourcing, and Contracting Processes.

To scale production and ensure quality, businesses are more reliant than ever on suppliers and contract manufacturers as they bring increasingly complex products to market, making supplier relationship management critical to their success. According to a recent Gartner webinar, nearly 6 in 10 organizations are planning to reinvent their supplier management process in the next three years to address existing and upcoming challenges. To gain a competitive advantage, they must find creative ways to manage risk and compliance and optimize collaboration with suppliers.

The Solution

Icertis Supplier Relationship Management (SRM) Application

Built on the Icertis Contract Intelligence (ICI) platform, the ICI Supplier Relationship Management (SRM) application enables businesses to handle both standard supplier management challenges and those unique to their business cases, processes, and policies.

Featured Testimonial

“Our mission at Elkem is to contribute to a sustainable future by providing advanced silicon, silicones, and carbon solutions, and adoption of new digital capabilities is a central part of our strategy. We saw a significant opportunity to compete more effectively in our global markets by connecting the data in our contracts to commercial and supply chain systems. Icertis’ advanced capabilities will drive analytics-based decision making and additional commercial opportunities as we continue to grow.”
Ole Garborg
General Counsel
Elkem

The Benefits

Reduce Cycle Time and Compliance Burden. Increase Transparency and Performance.

Contractual supplier commitments are often disconnected from supplier performance data available in operational systems, which can have a significant negative business impact. Contracts are the foundation of a company’s relationship with its suppliers, and hence they are an excellent basis for organizing a holistic procurement and supply management strategy including pricing, timeframes, specifications, SLA performance requirements, and so on.

Significantly reduce supplier onboarding cycle time

Reduce compliance burden through automated tracking of compliance certificate expiries

Manage diversity spend compliance more effectively and remain compliant for diversity spend goals

Improve governance and transparency in the supplier lifecycle

Optimize process efficiencies, risk management, and compliance

Enhance the supplier experience with deeper collaboration and engagement

Next Steps

Explore Icertis Contract Intelligence

Icertis Contract Intelligence

Standardize, streamline, and automate every contract – everywhere

Transforming contracts into structured, connected, and on-demand data is just the beginning. Discover the power of intelligent contract creation, automation, and insights to realize the full intent and maximize the value of every contract, clause, and obligation across the enterprise.

Explore Icertis Contract Intelligence