SAP Ariba Contracts & Icertis Contract Intelligence
Improves Contract Visibility: Create a unified searchable repository of contracts including historical and 3rd party/external paper contracts. Provides deep insights into contractual terms, trends, deviations and risks. Automates Contract Requests & Authoring: Using an easy self-service interface to collect contract requests from business teams, contract managers can generate draft contracts that adhere to organization standards and policies. Rule-based dynamic contract assembly ensures that contracts are adaptive and clauses are automatically added depending on the context. Ensures Real-Time Compliance Monitoring: C ontinuously monitors contract performance against agreed terms, using smart rules and alerts to flag potential compliance issues. Improves governance across departments by aligning contract terms with procurement execution . Drives Contract Collaboration: Enables secure collaboration with cross-functional teams and external parties through integrated communication tools, and audit-ready workflows. Easily capture contractual redlines, analyze them and route deviations for approval to relevant stakeholders Identify and Mitigate Contractual Risks: Uses AI to identify common risk factors such as ambiguous language, hidden obligations, unacceptable positions, & third-party dependencies. Proactively manage legal, financial, and operational risks to ensure compliance and flag deviations early.
Business Outcome: ✓ 250K+ supplier contracts in 17 languages ✓ Enforce contract terms and purchase orders across 765 legal entities ✓ Cost savings of $70mil+ per year ✓ Supplier contract awarding accelerated by 60% ✓ 15-30% reduction in operational costs ✓ Compliance with standards like BAA, HIPAA, CCPA, GDPR, COPPA,ISO 27001
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