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

Contract Management for Manufacturing

Contract intelligence: Lower costs, reduce risks with AI-powered contract digitization and insights

Leading manufacturing companies are embracing contract-centric sourcing to lower costs, reduce supplier risk, and accelerate time-to-market with Icertis Contract Intelligence

The Challenge

Leverage the Full Value From Every Commercial Relationship

Contracts are the foundation of commerce, and they support the entire manufacturing value chain including Engineering & Technology, Procurement, Production & Operations, Human Resource Management, Partner Management, and Sales & Marketing.

    • Suboptimal contract terms combined with suboptimal fulfillment can cause an erosion of value equal to 9% of a business’ annual revenues. (World Commerce & Contracting Association).
    • Growing customer expectations, disrupted supply chains, and changing regulatory requirements.
    • Manufacturers are under pressure to leverage the terms contained within contracts to increase top-line and bottom-line revenues to minimize cost from suppliers.
    • The problem can’t be solved with a contract repository alone. It’s not just a contract management problem, it’s an intent problem. How can you ensure the intent of every contract is fully realized and incorporated in the operations of the organization.

Contracts have a direct impact on the revenue and spend of an organization. But have you ever measured how well your contracts are performing for your enterprise?

EBOOK

Contract Lifecycle Management 101 for the Manufacturing Industry

This eBook provides six critical insights to understanding how CLM delivers value to today’s manufacturing companies to jumpstart your journey to realizing business excellence through contract intelligence.

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The solution

World Commerce & Contracting reports that around 29% of a company’s staff is involved in the contract process.

This means optimized contract management process can deliver value across an enterprise – from engineering, supply chain, procurement and production to operations, human resources, partner management, sales, and marketing. Contract Intelligence helps you to manage your contracts better and more efficiently, in ways that strategically and proactively improve six key drivers in a manufacturing business:

  • Revenue Leakage

    Record and track rebate and incentive terms to maximize revenue realization.

  • Supplier Visibility

    Integrate sourcing, contracting, and execution tools to measure variance in price, capacity, volume, quality, compliance and delivery.

  • Risk & Compliance

    Proactively identify regulatory and compliance concerns to mitigate financial and supply chain risks.

  • Margin Protection

    Compute variances between contracts and actuals to pinpoint factors that contribute to margin erosion

  • Managing Flow Downs

    Cascade information and directives into your supply chain.

  • Operational Productivity

    Improve cycle times to onboard customers and suppliers.

Icertis Offers Best in Class CLM Capabilities

  • Self Serve Contracts

    Contract templates can be accessed across the organization to quickly send a MSA to a supplier

  • Contract Review

    Key stakeholders can easily compare redlines from multiple contract versions

  • Repository

    Buyers and sourcing teams can easily create a single source of truths for all supplier agreements

  • Search

    View contextually relevant, mission-critical information quickly on demand without having to request it.

  • Reporting Analytics

    Sourcing gains visibility into SLA obligations to ensure providers are meeting the agreed-upon timelines

EBOOK

Unleash the Full Value of Your Manufacturing Business with Contract Intelligence

As highlighted in the eBook, contracts can shape your value chain in ways that drive success today, tomorrow, and into the future. But first, you must centralize agreements and related data on a unified, AI-enabled platform and extend them across your business systems and processes.

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Industry experts agree

Icertis is the #1 CLM Vendor

Industry experts agree. In a recent report, MGI Research said, "Icertis achieved the highest total MGI 360 Rating™️ in CLM and demonstrates the greatest ability to handle highly complex and high-volume use cases.

Gartner-logo

Icertis has been named a Leader in the latest Gartner® Magic Quadrant™ for Contract Life Cycle Management. This is the third consecutive Gartner® Magic Quadrant™ to recognize Icertis as a Leader in the category.

Icertis received the highest 360-degree rating from MGI Research in the firm’s Contract Lifecycle Management (CLM) Buyer’s Guide, earning the top position among CLM vendors and No. 1 for mega companies.

spend-matter-logo

Icertis is proud to once again be SolutionMap Validated by Spend Matters. See why Icertis is considered above the industry benchmark on Contract Information Management, CLM Integrations, Specialty CLM Analytics, and more.

EBOOK

World Commerce & Contracting Contract Management Benchmark Report for Manufacturing

Manufacturing is a contract-intensive industry, with commercial relationships defining both buy-side and sell-side operations. Revealed in the World Commerce & Contracting Benchmark Report for Manufacturing, the manufacturing and processing industry as a whole lags behind in its contract management capabilities. Download this report to learn how you can create a plan for change.

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Trusted by the world's leading manufacturing companies

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.

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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. 

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Icertis Collaboration Portal

Enable secure communication with your suppliers, customers, and partners

The Icertis Collaboration Portal extends controlled access to the Icertis Contract Intelligence platform to outside organizations for more effective collaboration throughout the contract lifecycle.

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Integrate

Advanced automation and deep, native experiences

Seamlessly connect with your enterprise systems such as Microsoft, SAP and Salesforce to automate end-to-end business processes and enjoy a richer experience.

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