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Equinor Deploys Icertis + SAP Ariba to Maximize Contract Asset Value

Equinor, a leading broad energy company, relies on a wide range of assets to drive its $100 billion enterprise.

Equinor sees contracts as important company assets

As IT manager Kristoffer Kaald shares in this video, for Equinor, these assets include its contracts.

“Assets can be quite tangible. It can be our pipelines, our refineries, our shipping, our wind farms, our fields out in the North Sea and elsewhere,” he says. “But also a very important asset is our contracts.”

That is why Equinor has chosen to transform its contracts and contracting processes with Icertis.

“To really get the most value out of these contracts, it's key for us to have a state-of-the-art contract intelligence platform,” he says.

“To really get the most value out of these contracts, it's key for us to have a state-of-the-art contract intelligence platform.”

The integration of Icertis with SAP Ariba is crucial for Equinor's marketing and supply functions, with a strong focus on asset-backed trading. By leveraging the advanced functionalities of these platforms, Equinor aims to streamline and optimize its procurement and contract management processes.

By implementing Icertis and SAP Ariba, Equinor can achieve greater efficiency, transparency, and value extraction from their contracts. This strategic move is part of a broader effort to harness the power of digital technologies and intelligent solutions to drive operational excellence and competitive advantage in the energy sector.

Equinor's deployment of Icertis and SAP Ariba represents a significant step towards maximizing the value of their contractual assets. Through the integration of these platforms and the exploration of AI functionalities, Equinor is poised to enhance its procurement and contract management processes, ultimately driving greater value and efficiency in its operations.

To learn more about Icertis’ solutions for energy companies, visit our Energy page.

Icertis Contract Intelligence for Energy

With AI-powered contract digitization and insights

Icertis has a team of over 700 research and development professionals looking at manufacturing contracts and training AI on them, so the AI can recognize language to identify inflation and price locks, milestone data, penalty clauses, rebates, incentive clauses, etc.

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