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

Monish Darda, Co-founder & CTO
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.
Over the years, the firm has continually excelled in the market through rendering state-of-the-art solutions that enabled many of its clients to attain staggering ROIs. In one such successful project, the firm assisted one of its clients to address complexities in their contracting and sourcing processes with the ICM platform and the ICM Sourcing app. The association enabled the firm to commence seamless integration with third-party systems. The client was also able to support their entire procurement lifecycle through improving evaluation, selection, contracting and collaboration at the supplier end. The most noteworthy thing about the association was that both the platform and the app went live in record time and ensured agility in their various operations.


ICM renders intuitive user experiences and enables companies to configure it according to their business needs

Furthermore, Darda mentions that hiring skillful employees and building a great workplace has always been a part of their company’s culture. For the past two years, the firm was recognized by Seattle Business Magazine as one of the 100 Best Companies to work for. This follows the company being recognized by Glassdoor as a Top 50 Private Cloud Company to Work For. “We are proud of our values which sets us apart from other peers.” The firm was also named as the Microsoft US partner of the year for 2018.

Recently, Icertis appointed Madhu Khatri as the Chief Evangelist of their firm. Khatri brings over 25 years of global legal experience to Icertis and will help enterprises to navigate the complex challenges of contract management with the ICM platform. Icertis also brought in Neal Singh as the Chief Operating Officer. Singh will drive even greater value for Icertis customers looking to increase contract velocity, reduce risk, improve compliance and optimize the commercial value of their business relationships. In the days ahead, Icertis intends to focus more on AI, ML, and leverage these technologies to play an elemental role in transforming the foundation of commerce.

Company
Icertis

Headquarters
Bellevue, WA

Management
Monish Darda, Co-founder & CTO

Description
Helps companies to transform their commercial foundation ensuring compliance, improving governance, mitigating risk and enhancing user productivity

Icertis