When Accenture needed a global contracting solution at enterprise scale to help reduce risk, it chose the Icertis Contract Intelligence (ICI) platform to meet its needs.
The value of adopting ICI to transform its business was clear.
As a global professional services business, Accenture's legal teams, with over 2,800 professionals in 46 countries, negotiate and execute thousands of highly customized, multi-lingual legal documents every month. Accenture sought a modern contracting platform to transform its legal services from a transactional function to a data-driven internal partner for Accenture sales based on valued guidance and better service levels.
Icertis worked with Accenture to configure the platform and deliver all the necessary features. This included basics such as automated routing, search and reporting. More sophisticated functions included automated electronic signature, a clause library and guided contracting, the ability to create contract families, and integration with other key sales and contract systems. In conjunction with Accenture's global IT team, Icertis leveraged its unmatched AI technology to digitize Accenture's contracts and move them to a central platform that optimizes workflow and promotes transparency.
ICI digitally transformed Accenture's contracting experience, equipping it with new capabilities, data analytics and integration with key systems. It made the contract request process efficient and seamless. Most importantly, the solution helped Accenture see the big picture and get full value from contracts and the critical business data they contain.
Contract Value for Clients
After adopting ICI, Accenture recognized the opportunity to improve the legal experience and unlock the value of contract data not only within its own operations but those of its clients. Now Accenture and Icertis are working together to transform contracting and bring contract value to more enterprises.
The Icertis-Accenture partnership is helping businesses structure and connect the critical information found in their contracts, dynamically analyze this information in the context of their systems and processes, visualize how contracts drive all aspects of their business, and ensure that the full intent and value of every contract is realized. We call this contract intelligence.
Contract intelligence delivers value to Accenture clients in three key areas:
Intelligent Contract Transformation
85% of enterprises do not have a digital solution to contracting. To help them progress and achieve more, Accenture and Icertis enable companies to consolidate their end-to-end management capability, collaborate through a single platform, accelerate the contract lifecycle and gain insights into contract performance.
Intelligent Risk & Compliance
Accenture and Icertis provide companies with proactive risk and compliance detection and risk mitigation through enterprise integrations that connect contract data to the systems and processes they touch, and AI-powered apps that generate deep insights into risk-scoring, regulatory impacts and obligations. At this stage, companies have a firm grip on what their contracts do.
Accelerated Value Capture
Accenture and Icertis bring advanced value-capture capabilities through AI-enabled advisory on negotiations, pricing, and entitlements for enterprise-wide contracts tailored to industry-specific needs. With contract intelligence, companies ensure the full value of every business relationship, and every business interaction, is correctly memorialized in the contract, then carried out in practice.
The Benefits of Contract Intelligence Are Clear
These value centers translate into measurable benefits for the organization:
Speed and Efficiency: contract intelligence streamlines and automates all contract-powered processes, from structuring and signing to dynamic obligation management, in ways that minimize internal and external resources consumed by contracting tasks.
Increased Bottom Line: contract intelligence helps enterprises negotiate better deals with AI-powered insights and improves cash flow by ensuring all entitlements are fully realized as conditions are met.
Risk Reduction and Full Compliance: contract intelligence protects brands and businesses by proactively monitoring contractual obligations with intelligent rules that dynamically trigger actions as conditions are met.
It's not every day that a customer ends up being a partner. The Icertis-Accenture relationship is a clear testament to the strength of our client-facing solutions. We're excited about this next step in our customer-partner relationship, which delivers value to clients from whatever position they occupy in their journey toward realizing contract intelligence.
Paul Gleeson is Icertis’ Senior Vice President of Global Alliances and Partners.