Icertis and SAP Deepen Partnership to Accelerate Time to Value with AI-Powered Contract ...........
Icertis, the global leader in
AI-powered contract intelligence, announced plans to make its Icertis Contract
Intelligence platform available as a solution extension under the name SAP
Ariba Contract Intelligence by Icertis. SAP Solution Extensions undergo a
premium qualification process, exclusive to SAP Solution Extensions, and are
supported with available SAP support services. This milestone builds on the
longstanding partnership between Icertis and SAP, helping to enable faster
product deployment and time to value for customers with one-stop licensing,
deeper preconfigured product integrations, and an improved user experience.
Contracts are the foundation of
every business relationship, establishing the rules of business for how
enterprises buy, sell, and partner to drive global commerce. Icertis transforms
traditionally static contracts into actionable business rules within the SAP
user experience – enabling customers to drive revenue, control costs, mitigate
risk, and ensure compliance by integrating structured contract data directly
into core business processes.
“Contract intelligence plays an
increasingly critical role in enterprise operations. This expansion in our
partnership with Icertis aims to help more businesses reimagine how they
leverage contracts as an essential pillar of their long-term growth
strategies,” said Manoj Swaminathan, General Manager and Chief Product Officer,
Business Suite, Finance & Spend, SAP.
“Contracts define the rules of
business yet 90 percent of CEOs believe they’re losing money in contract
negotiations and more than 9 percent of a contract’s value is lost
post-signature – adding up to billions of dollars in potential lost revenue and
overpayment,” said Anand Subbaraman, Chief Operating Officer, Icertis. “For
years, managing the full scope of global contract obligations felt daunting,
but together, SAP and Icertis have transformed that challenge into an opportunity
through AI-powered contract intelligence. Our plan to become a solution
extension underscores our partnership and reinforces the vital role of
contracts in a holistic technology strategy that accelerates measurable
outcomes.”
Icertis is the AI-powered
contract intelligence partner of choice for leading technology companies and
global systems integrators and 3x the size of the next pure-play contract
lifecycle management vendor, according to MGI Research.
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