SAP SE and Icertis announced an expanded partnership for enhanced contract management to help companies increase efficiency, minimize risk and realize the full intent of their agreements. The partnership, which includes a financial investment from SAP in Icertis, will lead to a joint product road map and deeper technological integration to deliver enterprise-wide value, including faster negotiations, greater compliance and AI-powered business insights and automation.
“The expanded cooperation with Icertis will help our customers take advantage of market-leading innovations for contract management from Icertis while managing core business processes with SAP solutions,” said Christian Klein, CEO and member of the Executive Board, SAP SE. “This partnership is a great complement to our portfolio, with multiple touchpoints to SAP systems across ERP, finance, procurement, sales and HR.”
Recommended AI News: Opendatasoft Raises $25 Million to Democratize Data Access Across Every Organization
This expanded partnership builds on the existing relationship between SAP and Icertis, which began in 2020 to transform the source-to-pay and lead-to-cash processes through the integration of Icertis Contract Intelligence (ICI) with SAP Ariba and SAP Customer Experience solutions. The enhanced partnership further leverages each company’s technology to deliver even more value to a growing list of joint customers. Customers will have the opportunity to benefit from ICI capabilities for smart contract creation, online negotiation, AI-assisted risk identification, obligation management and contract-driven insights for decision support while operating their core source-to-pay and lead-to-cash processes within SAP solutions.
“With this partnership, SAP and Icertis customers will be able to derive end-to-end value across the enterprise, so the intent of every contract is correctly memorialized and fully realized,” said Samir Bodas, CEO of Icertis. “Partnering with SAP to bring our AI-powered, best-of-breed contract intelligence to the market is another affirmation of Icertis’ strategy to become the contract intelligence platform of the world. It is also a testament to SAP’s forward-looking vision for the intelligent and networked enterprise.”
As part of the expanded partnership, Icertis Contract Intelligence (ICI) for SAP Ariba solutions and ICI for SAP Customer Experience solutions are now SAP Endorsed Apps, premium certified by SAP with added security, in-depth testing and measurements against cloud operations best practices.
Recommended AI News: ADP Advances the Benefit Experience for Large and Medium-sized Businesses with API Integrations
“SAP’s focus on the intelligent enterprise has enabled many organizations to move into the digital-first world, and the contracting process in SAP Ariba solutions has done much for the buying community,” said Mickey North Rizza, Program Vice President Enterprise Applications and Digital Commerce, IDC. “Icertis is named a leader in the IDC MarketScape: Worldwide Contract Life-Cycle Management Software for Corporate Legal 2021. With Icertis’ flexible platform and enhanced CLM capabilities, SAP can now manage the trading partner relationship for the enterprise in a much more integrated, innovative and tailored manner.”
Contracts are the foundation of commerce, governing the rights and obligations between parties. Traditional contract management is often manual and siloed, creating inefficiency and risk while leaving value unrealized. ICI helps structure and connect data within contracts across an enterprise, enabling businesses to increase efficiencies, identify and mitigate potential risk, and drive bottom-line value throughout the contract lifecycle.
Icertis solutions including ICI for SAP Ariba solutions and ICI for SAP Customer Experience solutions are available in SAP Store, the digital marketplace for solutions from SAP and its partners. SAP Store provides customers with real-time access to more than 1,800 innovative solutions from SAP as well as partner solutions that complement and extend their SAP applications.
Recommended AI News: Numonix Expands Compliance and Business Features for Its IXCloud Compliance Recording Service for Microsoft Teams
[To share your insights with us, please write to sghosh@martechseries.com]
Comments are closed.