NEW REPORT: The State of CLM and AI-Powered Contract Intelligence

Life Sciences & Medical Technology

Drive contract management agility and efficiency in the MedTech industry with Icertis Contract Intelligence

The Challenge

Navigate complex commercial models and shifting regulations with ease

The Medical Devices and Technology (MedTech) industry is grappling with rapidly changing commercial models, supply chain uncertainty, and ongoing regulatory changes. To compete successfully in a dynamic and highly regulated market, you need industry-specific contract intelligence to quickly and seamlessly manage and update complex agreements and ensure adherence to regulatory and contractual compliance.

The Solution

Contract intelligence tailored to the Life Sciences and Medical Technology Industry

Icertis Contract intelligence enables you to unlock the data and information in all your contracts to make better-informed decisions, build stronger business relationships, and adapt quickly to fluctuating market conditions. This makes it easier to aggregate and analyze information in contracts across your organization to increase business agility, visibility, and velocity. The Icertis platform addresses key challenges across the contract lifecycle by managing payment models, multiparty agreements, and regulatory changes effectively in an evolving market. From aligning and managing agreements across GPOs, IDNs, PBMs, and HCPs to automating rebates, pricing, payment terms, and fee calculations, Icertis helps you move more quickly to optimize revenue while providing guardrails to protect business margins.

Featured Case Study

“Deploying the Icertis Contract Intelligence solution has been a critical enabler to our Contracting Centre of Excellence. It has significantly improved our performance, decreasing cycle times on various contract categories.”
Sandrine Fleischman
Global Head of Contracting Centre of Excellence

The Icertis Advantage

  • Close Deals Faster

    Empower your sales team to onboard new partners and customers in days, not weeks, with self-service agreements and automated workflows that streamline the contracting process and accelerate approvals.

    • Pre-built templates and configurable workflows
    • Domain-trained AI for contract intelligence
    • Robust API integration with third-party systems
  • Administer Pricing and Rebate Terms Efficiently

    Manage pricing and rebate terms effectively by tracking contract value utilization, managing complex rebate structures, and negotiating smartly across complicated multi-party agreements.

    • Configuration for complex rebate models
    • Auto reconciliation and rebate calculation
    • Mass amendments for product pricing
  • Stay Compliant Amidst Regulatory Changes

    Ensure your team complies with quick responses to regulatory and market changes.

    • Bulk amendments of agreements for regulatory changes with a single click
    • Management of complex product lists and their associations on the fly
    • Configurations for specific workflows and associations to meet geography-specific compliance requirements
  • Monitor 360° Performance

    Ensure your team stays on track and meets the terms of agreements with robust dashboards that give you real-time visibility into key aspects of performance.

    • Configuration for proactive alerts for contractual commitments
    • Insights for strategic account management
    • Visibility into amendments and latest pricing terms

Leading pharmaceutical and biotech companies trust Icertis

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

Icertis Obligation Management

Manage commitments and realize the full value of entitlements

Transform how your organization identifies, creates, manages, and fulfills obligations previously hidden in complex contract language with Icertis Obligation Management.

Explore Icertis Obligation Management

Icertis Sourcing Application

Place contracts at the center of the sourcing process

Ensure compliance, minimize risk, and create long-term strategic agility while gaining full visibility into supplier’s risk profile and ensuring compliance throughout the procurement process. 

Explore the Icertis Sourcing App