"When we started the selection process, we thought we needed to a new contract management application. What we got was an entire platform."
That's how Scott Moore, Vice President of Contracts for Vallen Distribution, sums up his experience after choosing to upgrade to the Icertis Contract Management (ICM) platform.
Vallen's manually-based contract management system was holding the indirect materials distribution company back. Without the technology to support a standardized approval process, inefficiencies plagued every stage in the contracting process. It was time for an upgrade.
Vallen started with modest requirements for the new system: a centralized repository for contracts and some additional controls. But in the process of selecting a new solution, they discovered the additional value provided by the ICM platform. Here are a couple of examples.
Advanced analytics drive business insights that impact the bottom line
The advanced analytics engine built into the ICM platform analyses data gathered from every stage in the contract lifecycle. Now managers have an easy way to stay up-to-date on the dependences between suppliers and customers. For Vallen, that means being able to take full advantage of supplier rebates, and pass those savings on to the customer.
Self-service contracting accelerates time-to-contract
Vallen's redesigned approval process takes full advantage of the ICM platform. Yet, despite its powerful capabilities, individual uses can easily configure the system to suit their unique requirements. This is one just of the reasons why the time to generate a standard contract was reduced from a few days – to a few minutes. Moore puts it simply, "If we want to make a change, we do it ourselves. We don't need our IT team to do it."
These are just two of the reasons why the ICM platform is now an indispensable asset in Vallen's growing business. To learn more about the benefits of ICM, watch Vallen's customer testimonial here.
And to learn what the ICM platform can do for your business, give us a call.