Supplier Relationship Management
Optimize Your Supply Chain for the Long Term While Reducing Risk, Cycle Time, and Compliance Burden
Contractual supplier agreements hold the key to building a holistic procurement and supply management strategy. Learn how Icertis can help.
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
The Benefits
Reduce cycle time and compliance burden while increasing 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.
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.