Icertis: Transforming Enterprise Contract Management with Icertis Contract Management in the Cloud

Contract management systems are slowly becoming ubiquitous in organizations and are helping them to invigorate sales, increase cost-efficiency, and in adhering to the ever-changing regulatory compliance rules. Albeit contracts are foundational to commerce, the contracting process is often unorganized, which makes it tedious to execute and increases downtime when multiple owners and departments are involved in a deal. Often, lengthy contract cycle times slow down revenue recognition, and in many cases, companies lose revenues due to poor contract management.

Icertis came into the market to streamline the complexities of contract management and transform contracts into valuable business assets. The firm assists enterprises to maximize revenue, control costs, and manage risk with the Icertis Contract Management (ICM) platform. With the ICM platform, Icertis renders intuitive user experiences and enables companies to configure the platform according to their business needs. The platform also allows users to examine documents and third-party paper to mitigate any risks associated with unauthorized users.

Highlighting the importance of the ICM platform, Monish Darda, Co-Founder and CTO of Icertis says, “For the first time in history, we are seeing contract management being digitalized and scaled to such an extent.” The incisive leader further adds that in contract management if the procurement processes are not that efficient, it can significantly impact the bottom line of any business. “We always worked with the vision to provide a platform where sourcing and contracting processes can come together.” To this end, the firm offers an ICM Sourcing app that enables enterprises to place contracts at the center of the sourcing process and ensure compliance, minimize risk, and create long-term strategic agility. Overall, the ICM platform provides comprehensive compliance ability to enterprises and enables them to address the different challenges in contract management and complexities in procurement processes and sourcing. The other contrasting factor of the firm is that the ICM platform is API based and it can be configured according to the business in a very cost-effective manner.