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

Contract Intelligence for Retail & Consumer Goods

Improve margins and safeguard your supply chain through the power of Contract Intelligence

At Icertis, we help retail and consumer goods companies transform contracts into structured, connected, and on-demand data. Allowing them to 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.

The Reality

To digitally evolve, retail and consumer goods companies need to rethink backend contract processes

Retail & consumer goods companies face rapidly changing customer expectations, behaviors, and loyalty that drive new business models and increased digital engagement. To meet these challenges, key stakeholders from across the organization – including brand managers, category buyers, field sales, merchandising, sourcing teams, IT, legal and others – must think differently about their contracts and the benefits of digital transforming the processes.

Let's look at rebates as an example. With manual tracking, supply chain issues, and labor shortages, monitoring all the vendor rebate programs is challenging. ICI automates the reporting of rebates for suppliers.  Automating rebate management allows retail & consumer goods companies to realize their total revenue commitments. Simply said, a company would need to sell an incremental $38M in toplines sales if they didn't collect on just $5M in already negotiated rebates!*

*Source: 3.62% avg profit margin from Brex.com 

The Solution

Contract intelligence reduces revenue leakage and maximizes contract value

The retail and consumer goods sector experiences an average revenue loss of 2-4% due to contract mismanagement, according to World Commerce & Contracting. With Icertis Contract Intelligence, these missed opportunities can be reclaimed, directly impacting the bottom line. Consider a company with $1 billion in annual sales: to compensate for the typical 3% revenue loss (equivalent to $15M) due to contract mismanagement, they would need to generate an additional $418 million in sales. Icertis Contract Intelligence ensures that potential revenue leakage is minimized and profits are maximized.

*Source: 2023 World Commerce & Contracting Report and 3.62% avg profit margin from Brex.com

EBOOK

Contract Lifecycle Management 101 for the Retail & Consumer Goods Industry

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

Get Started

Benefits

Transform static contracts into digital assets

  • Maximizing Profits

    Optimize financial management by efficiently monitoring large volumes of vendor contracts featuring diverse financial terms to prevent revenue leakage and double dipping while effectively identifying and managing financial commitments like incentives, rebates, and penalties.

  • Streamline Workflow

    Streamline the creation, negotiation, execution, and management of compliant contracts, including managing flow-downs, all in a fraction of the time, effectively preventing unnecessary bottlenecks in the supply chain.

  • Improve Compliance & Risk

    Safeguard financial integrity through strategic risk and compliance management. Employ AI-driven insights to enforce compliance and commitments, automatically adapting to changing conditions and continuously improving platform speed and intelligence.

  • Shared Visibility into executed contracts

    Take informed actions based on all the information within your active contracts – ranging from tables, clauses, attribute data, to handwritten notes. This heightened visibility equips your teams with the knowledge needed to swiftly adapt to supply disruptions in a fraction of the time.

Featured Case Study

Best Buy deployed the Icertis Contract Intelligence (ICI) platform which improved contract turnaround time by 70% and reduced time for payments from 12 weeks ​to 2 weeks, improving cash flow.

Trusted by these companies

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 ExploreAI

Bringing the power of generative AI to enterprise contracting, responsibly

Icertis ExploreAI is your next-gen AI-powered Contract Intelligence Partner, with generative, assistive, natural language capabilities that enable even greater customer value from unstructured and structured contract data, connected across the enterprise.  

Explore Icertis ExploreAI

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

Rebates & Growth Incentive Application

Manage complex rebate and growth incentive program management

The Rebates and Growth Incentive application enables organizations to take a smart, holistic approach to their rebates and incentive programs— allowing them to automate the calculation, reconciliation, and reporting of rebates for suppliers and customers.

Learn More