WEBINAR: Turbocharging Legal Contract Transformation in the Age of Generative AI

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?

The solution

Common Manufacturing Business Levers Enabled by Icertis Contact Intelligence

  • Revenue Leakage

    Manufacturers can link their contractual obligations to orders to rapidly identify purchase price, (manufacturing) schedule or order quantity variances. ICI enables interoperability with other systems of record.

  • Supplier Visibility

    Manufacturers can be confident that they are understanding and acting on all the information – down to the table, clause, attribute data, and handwritten notes – that lives in their contracts.

  • Risk & Compliance

    Manufacturers can find and analyze down to the word or table. Customers can connect to the other systems of record to eliminate the need for spreadsheets, increasing time to value and decreasing time to mitigation.

  • Margin Protection

    Manufacturers can compare variances between contracts and actuals to pinpoint factors that contribute to margin erosion (e.g., cost, labor, delivery).

  • Managing Flow Downs

    Manufacturers can be confident that flow down spans BUY SIDE (e.g., parts requirements to be met, allowance of defective PPM, quality specs, material grade) and SELL SIDE (e.g., creating an alert, notification of non-compliant scenario), and that they are compliant.

  • Operational Productivity

    Manufacturers can take all global supply chain requirements and move them into a centralized platform with flexible capabilities, meeting global language requirements and the need for seamless integration with other systems, including Microsoft Manufacturing Cloud solutions and SAP S/4HAHA.

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.

Get Started

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

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.

Read the Report

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.

Explore Icertis Contract Intelligence

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 Application

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.

Explore the Icertis Collaboration Portal

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.

Explore Integrations