Contract Management for Utilities

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

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.