One of Germany’s Leading Manufacturers of Central Heating Systems will Integrate Icertis with SAP to Increase Efficiency and Improve Compliance
FRANKFURT, Germany, July 12, 2023 /PRNewswire/ — Icertis, the contract intelligence company that pushes the boundaries of what’s possible with contract lifecycle management (CLM), today announced that Vaillant Group has selected Icertis Contract Intelligence (ICI) to digitally transform its contract-driven processes across enterprise operations in 60 countries. Through integrations with Vaillant Group’s core systems, including SAP Ariba and Salesforce, Icertis will drive efficiency and enable increased visibility and compliance with obligations in the company’s business relationships.
Vaillant Group serves more than 30 million customers worldwide with energy-saving technologies for heating, cooling, and hot water supply. The company will rely on Icertis as the single source of truth for commercial agreements, equipping its leaders and employees with the transparency and AI-powered analytics the organization needs to promote future growth through unique insights into contract data. Vaillant Group will utilize the Icertis DiscoverAI application, which applies AI to connected contract data, enabling the business to further optimize negotiations and automate risk and compliance discovery in third-party contracts when paired with the core ICI platform.
“Contract intelligence is increasingly important for companies that operate under stringent regulatory requirements in multiple countries. Sourcing teams charged with manual compliance review for every new contract could be reallocating resources to more strategic initiatives with the right contracting solution in place,” said Roman Howe, Vice President, Europe, Icertis. “The power of Icertis Contract Intelligence integrated with SAP solutions will help Vaillant Group achieve the automation they need to move faster, realize value, and ensure compliance as new regulations become increasingly widespread – all while positioning their business for future growth.”
Icertis helps businesses increase revenue, reduce costs, improve compliance, and eliminate risk by structuring and connecting contract data across the enterprise and applying AI to ensure the intent of every business relationship is correctly captured and fully realized. The data from contracts offers one of the largest untapped opportunities for businesses to deliver outcomes that are critical in the current environment, positioning companies like Vaillant Group to outpace the competition by maximizing the value of their business relationships. Icertis also enables the scalability to manage the size and scope of complex contract portfolios, equipping Vaillant Group and customers globally with enterprise-grade functionality to support performance throughout contract lifecycles.
Icertis was the first company to grasp the true potential of CLM and has boldly pursued the vision of enterprise-wide contract intelligence for over a decade. The company continues to build momentum within the $30 billion CLM market1 as the world’s largest brands choose to turn their commercial agreements into strategic advantage with Icertis. To learn more about Contract Intelligence, visit www.icertis.com.
About Icertis
With unmatched technology and category-defining innovation, Icertis pushes the boundaries of what’s possible with contract lifecycle management (CLM). The AI-powered, analyst-validated Icertis Contract Intelligence (ICI) platform turns contracts from static documents into strategic advantage by structuring and connecting the critical contract information that defines how an organization runs. Today, the world’s most iconic brands and disruptive innovators trust Icertis to govern the rights and commitments in their 10 million+ contracts worth more than $1 trillion in 40+ languages and 90+ countries.
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1 MGI Research 2022: https://mgiresearch.com/research/mgi-forecasts-contract-lifecycle-management-software-global-tam-forecast-2022-2026/
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SOURCE Icertis
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