Icertis, which works in cloud-based enterprise contract management, said partnering with SAP will allow for SAP customers to use its Icertis Contract Management (ICM) program, thereby cutting out unnecessary risks and making for better relationships with suppliers, the release stated. ICM has been used in the past by companies like Microsoft, Sanofi and Daimler.
ICM is available on the SAP App Center, a digital exchange for affiliated products. The program promises to be “intelligent and flexible,” the release stated, and will allow a quicker process for SAP clients to go through the contract program, including streamlined creation, approval, negotiation and execution of sourcing contracts.
By establishing a lone source for all suppliers, Icertis asserts that it can make the process more trustworthy. There will also be a new feature that will offer a complete view of supplier relationships.
The program uses artificial intelligence (AI) technology to digitize contracts with legacy suppliers, import third-party contracts at scale and look into past vendor history to see what could potentially be improved upon.
By integrating ICM with SAP Ariba, there should be less of a necessity for multiple data entries across various points of the contract process, with more adoption and less maverick contracting, and ICM can also guarantee safety by tracking commitments, expirations, deviations and other obligations within a contract.
Icertis is also a member of the SAP PartnerEdge Program, which allows for a facilitation and sale of high-tech products in the SAP sphere, providing tools, benefits and the support necessary for businesses to build efficient and high-quality products, the release stated.
Recently, SAP Ariba also began working with more companies than ever after a deal with Goldman Sachs, which also gave SAP more access to cross-border deals and payment-simplifying tech that it didn’t have before.