Icertis Internet of Contracts whitepaper

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In the last few years, contracts have started coming out of drawers and file cabinets to start interacting with their environments – and not just when something bad happens. Sales contracts are actively referred to at each milestone and procurement contracts are married to service level agreements, which are actively measured against the contract. Increasingly, contracts are becoming integral components of long-term, dynamic collaboration and cooperation between organizations - they're essential to deliver lasting benefits and satisfaction for all parties. Contracts that suitably modify themselves to adapt to changing conditions are poised to become the standard mode of working together. As enterprises realize that every dollar in and out of the enterprise is linked to a contract, they increasingly view contracts as the repository of rules on which the enterprise runs. And the expanding regulation and compliance requirements that come into play as enterprises go more global (studies suggest that the number of companies across the world that address global markets has doubled in the last five years!), the interconnection and interdependencies between the enterprise and its customers, suppliers, employees and governing agencies, has substantially increased. And these interconnections are driven by contracts! Executive Summary Continued on next page Contact us: icertis.com/contact 3

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