Contract Intelligence for Legal

Today’s legal departments are expected to be more than “protectors” of the enterprise– they are expected to be strategic partners leveraging their expertise to help their organizations move at the speed of commerce while improving enterprise risk management.

Contracts are a critical part of responding to this new reality: Contracts are one of the most common touchpoints between legal and the business, and organizations are looking to legal to innovate on how to make these powerful agreements a more strategic part of the enterprise.

Yet for many enterprises, contracts have remained static documents as the business around them has digitized. For legal, this can create the perception that they are slowing business down while also creating risk across the enterprise.

Icertis’ advanced, AI-powered contract lifecycle management (CLM) technology is used by legal departments at some of the most iconic enterprises in the world to achieve faster contract turnaround time and better risk and compliance management.

Icertis’ contract management software starts with easy-to-use, centralized clause and template libraries that enable legal to get a handle on what contract language is being used in the business. From there, teams can extend contract management self-service to non-legal users so they can generate standard contracts on their own without the support of legal. The system tracks if contract redlines are made so legal can get involved where needed.

Negotiations also move faster with a robust clause library with fallback and dependent clauses, version tracking, localization support, and one-click approvals.

But the most powerful capabilities lie in the platform’s AI-powered ability to help you improve risk management and compliance management across a portfolio of contracts after contracts are signed. Risk analysis reports, compliance and obligation tracking, plus customizable notifications and alerts, keep you ahead of any potential problems. The system becomes a critical compliance management system for the organization.

Users can quickly pull up associated contracts or documentation, like master service agreements and subsequent statements of work, providing a holistic view of each agreement and its dependencies. All of this information is available from a simple, configurable dashboard.

“We had no idea where our contracts were, what they said, or who had them...Now, if we have a contract with a supplier in the US, our team in China can easily leverage it.”

Ken Baughman,
Vice President & General Counsel, Supply Chain and Real Estate