Contract Management for IT Departments

The Challenge

Businesses rely on their IT departments to enable digital transformation with internal and external systems that connect and automate business.

Yet for many companies, contract management workflows remain manual and disjointed across departments and business units. According to a recent report from World Commerce & Contracting, contract data is stored in an average of 24 different systems at the typical business!

For IT, this means maintaining a massive amount of infrastructure while realizing limited value for the effort. With so many systems in place, gaining a unified view of contract data and defining a roadmap for process improvement can be impossible.

As demand for AI-powered solutions increases, these challenges only become more pronounced. This explains why Gartner notes the trend in CLM is to move to “an enterprise-wide strategy that considers the interdependencies among contracts, business processes, [and] operational and financial results.”

The Solution

Icertis is the recognized leader in CLM and contract intelligence technology and trusted by 35% of the Fortune 100 to transform their contracts into action and insights.

IT departments prefer Icertis thanks to its ability to manage use cases from across the business, integrate into enterprise systems, and deliver cutting-edge AI that drives significant ROI.

Enterprise-wide capabilities

Contract use cases can vary widely across departments or business units. Icertis’ highly configurable platform can model all of these use cases on a single instance, greatly simplifying IT infrastructure maintenance.

A single source of truth for contract data

Creating a single source of truth for all contracts not only streamlines data management but also enhances the visibility and accessibility of contract information, allowing contract stakeholders to manage contracts more efficiently and effectively.

Integrations drive adoption and value

The Icertis platform is designed to enable IT departments to integrate it into its existing tech stack, with more than 160 pre-built APIs. Embedded experiences in SAP Ariba, Salesforce, and Microsoft Office drive adoption and productivity by allowing users to access Icertis capabilities in the system they are used to (e.g., lawyers and Microsoft Word, sales and Salesforce), while also automatically syncing data between the systems.

Industry-leading AI

Gartner reports that the demand for AI-powered contracting solutions is surging. IT teams can meet this demand with Icertis’ industry-leading artificial intelligence. Built with the enterprise security of Azure OpenAI, Icertis AI delivers advanced capabilities that enable users to gain insights and detect risk in contracts far faster than is possible through manual review.