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

Contract Management for Utilities

Optimize business operations, streamline collaboration, and improve compliance with contract intelligence.

The power, utilities, and renewables sector plays a critical role in bringing electrification and low-carbon solutions across the globe through new business models and technology innovation in a world of rapidly changing regulatory requirements.

In working with some of the world’s largest utility companies, Icertis has identified a number of common contracting challenges

Today’s utility companies are globally dispersed and rely on a diverse array of vendors and distributors to compete in a highly regulated marketplace. At their core, these business relationships are governed by contracts.

Ultimately, we find that utilities face a broad set of contract challenges that span infrastructure and sourcing, risk and obligation management, and collaboration with multiple stakeholders. If left unaddressed, these challenges can put utilities providers at a competitive disadvantage, expose companies to serious regulatory compliance risks and lead to dissatisfied customers.

  • A lack of visibility into complex contract operations impedes efforts to optimize the performance of infrastructure asset management and sourcing, drive utilities savings, and control costs
  • Client-provider relationships are governed by strict but complex master agreements, raising the risk of missed obligations
  • Legacy systems and operational inefficiencies slow deals and cause leakage
  • Fragmented processes and lack of integration between contract management systems and other enterprise systems cause terms negotiated during the sales cycle to not be included in the final contract

The Solution

Icertis Contract Intelligence

Icertis’ utilities solutions offer unmatched benefits across the entire enterprise. We handle all contract types, have integration adapters for other enterprise systems, and can ensure that companies continue to maximize the value of their contracts long after each one is signed.

Icertis has implemented enterprise contract management solutions for some of the world’s largest utility companies, leveraging the Icertis Contract Intelligence (ICI) platform combined with our powerful suite of applications. It allows only those with the right permissions to see sensitive contract information on the contract and performance to drive savings and compliance.

  • Role-based data access

    that allows only those with the right permissions to see sensitive contract information

  • Deep tracking and reporting

    on contract performance to drive savings and compliance

  • Full Obligation Tracking

    to ensure contract entitlements are realized (and vice-versa)

  • Robust API

    allow integration into enterprise processes

  • Collaboration portal

    drive seamless communication and workflow with vendors, customers and other contract partners

Trusted by the world's leading utility companies

Next Steps

Explore Icertis Contract Intelligence

eBOOK

CLM 101: for Energy & Utilities Industry

Contracts touch every part of the energy and utility value chain—from upstream major capital projects, to midstream trading and transportation, to downstream product manufacturing and sales.

Get eBook

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 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.

Explore Icertis Obligation Management

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