Contract Intelligence for Finance

Gain total visibility into the risks, obligations, and entitlements hidden in contracts across your enterprise.

Finance departments at some of the most iconic companies in the world use Icertis Contract Intelligence to centralize contract information to improve financial performance and drive down risk.

The Challenge

Poor visibility into contracts means poor visibility into financial obligations, financial entitlements, and critical risk management levers.

Finance leaders are under more pressure than ever to precisely measure and manage cash flows in and out of the business and manage enterprise risks to the company’s well-being.

However, for many of these leaders, contracts represent a blind spot in their enterprise outlook. 

Contracts govern every dollar in and out of the business, and contain critical financial risk management levers for contingencies around events like supplier failure, force majeure, inflation, and other disruptions.

When these contracts are managed in siloed repositories across a business, it is impossible for finance to properly track what’s being committed to across the business, meaning a nasty surprise may be hiding in the business. 

Poor contract management has been measured to cost the average enterprise 8.6% of their contract portfolio’s value, a major source of revenue leakage. Other studies have shown poor supplier contract management to increase the total cost of ownership of supplier relationships by 10-20%, according to McKinsey.

The Solution

Finance leaders are turning to AI-powered Icertis Contract Intelligence to create a single source truth for contracts and contract data across the enterprise.

To get a handle on their contractual commitments, leading finance departments are turning to Icertis Contract Intelligence. Whether the deployment is led by legal, sales, procurement, or finance itself, finance departments benefit from the enterprise-wide visibility and control that Icertis delivers. Icertis customers in the finance department say Icertis allows them to be more responsive to the needs of their stakeholders and the Street.

Featured Case Study

“As one of the world’s leading professional services companies, it is critical we closely manage the obligations enshrined in our contracts,” said Frank Marty, Global Head of CLRM at Cognizant. “Understanding and fulfilling our commitments to customers and realizing the full value of our entitlements is critical to successfully delivering shareholder value. The ICI Obligation Management app will positively impact our bottom line.”

Read the Customer Story

Key capabilities for finance departments include:

  • Powerful reporting and dashboard capabilities allow companies to track obligations, contract values, renewals and expiries in a single location—allowing finance teams to optimize revenue forecasts and renewal management 
  • A single repository of active contracts simplifies access to contracts based on parameters like company, region, or category
  • Obligation management and milestone alerts ensure the company avoids penalties for non-compliance
  • Tracking of entitlements like volume discounts eliminates revenue leakage associated with overlooked commitments  
  • Accelerated contract settlement for faster cash into the business

Our customers have used the Icertis platform make faster, better business decisions in the face of global pandemics, supply chain disruptions, record inflation, and more.

Benefits

Whether you’re looking at Icertis for your own use, or evaluating it for another department, the ROI on Icertis Contract Intelligence is clear.

70%

Best Buy accelerated rebate settlement by 70% through automated tracking.

90%

Cognizant digitized thousands of customer contract to achieve over 90% obligation fulfillment.

100

Sunstate Equipment standardized risk management processes across 100 retail locations with standardized contracting.

EBOOK

Contracts govern every dollar in and out of the enterprise

How can your finance department most effectively execute a defensive strategy that at the same time prepares the company to thrive in the months and years to come? The answer is locked in a company’s contracts. Access this executive guide to learn more.

Get the eBook

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.

Explore Icertis Contract Intelligence