The strategic SAP-Icertis partnership has been established to allow enterprises to undertake a comprehensive transformation by leveraging contract intelligence.
SAP and Icertis’ powerful combination of technologies provides organizations with the opportunity to unlock valuable insights from their contracts and streamline processes, thus leading to increased operational efficiency and cost savings across their businesses. By utilizing Icertis’ advanced artificial intelligence (AI) capabilities, customers are able to gain detailed visibility into every aspect of their contracts, enabling them to make more informed decisions which will result in improved performance and greater agility. Consequently, the strategic alliance is helping enterprises reach new heights of success through intelligent contract management.
Expanding their customer base by a remarkable 50 joint customers, SAP and Icertis had an exceptional year in 2022. This growth is indicative of the increasing demand for contract intelligence solutions to drive digital transformation and unlock new opportunities for global brands like Lufthansa Technik, Mercedes Benz Group AG, and Ooredoo. These companies are leveraging the power of SAP and Icertis’ innovative technologies to address their unique business challenges.
According to SAP Chief Strategy Officer Sebastian Steinhaeuser, The cooperation with Icertis continues to strengthen the SAP portfolio by including contract intelligence as a vital system of record across the SAP suite and delivering significant contract insights directly into fundamental business functions. He further shared:
“The momentum we’ve experienced over the last year with Icertis is just the beginning, and we’re looking forward to further expanding the partnership to help businesses unlock the full value in their contracts across the enterprise.”
Since January of last year, SAP and Icertis have joined forces to develop a strategic product roadmap tailored to offer maximum enterprise-wide benefits. This roadmap links contract data with enterprise resource planning (ERP), finance, procurement, sales, and human resources (HR) software from SAP.
By connecting the said systems on a single platform, businesses can streamline their processes and gain an advantage over their competition. The collaboration has proved to be mutually beneficial for both parties as well as providing considerable value for customers across the globe.
Utilizing automation and analytics at scale to aid in business decision-making, the following SAP solutions now have tighter integration with the Icertis Contract Intelligence (ICI) platform:
- SAP Ariba
- SAP Fieldglass
- SAP CPQ solution, part of SAP S/4HANA
Leveraging Contract Intelligence Through SAP-Icertis Collaboration
As of last year, Icertis was offering an SAP Endorsed App, further cementing the two companies’ cooperation that began in 2020. The two businesses have agreed to work together to find novel applications for AI in the realm of contract data and opportunities to facilitate strategic outcomes through enterprise connections, all with an eye toward innovating for mutual customers in advance of their actual business needs.
Applications from third-party developers have been given the “SAP Endorsed” designation because they meet the German tech giant’s stringent requirements in terms of security, testing, and comparison to industry standards. All software integrations between SAP and Icertis have received premium certification and are offered in the SAP Store — the digital marketplace for SAP and partner solutions.
By combining cutting-edge AI with the one-of-a-kind contract data that powers source-to-pay and lead-to-cash processes, the ICI platform aims to provide more effective contract development, negotiation, and obligation management via integration with SAP solutions. When it comes to reconciling buy-side and sell-side agreements, ICI automates contract procedures and provides real-time data to support finance, legal, and procurement executives in ensuring that all conditions are satisfied and risks are reduced.
Icertis Chairman and Chief Executive Officer Samir Bodas explained that the SAP-Icertis partnership has resulted in integrations that streamline the user experience, allowing businesses to keep using SAP for their core business management while taking advantage of the best-in-class contract intelligence to speed up revenue, cut costs, boost efficiency, and lessen risk.
“Automating contract-driven processes helps ensure that the intent of every contract is fully realized, and surfaces savings and profitability opportunities contained within contracts. These insights better position businesses to face macro-economic factors like inflation and reach their strategic goals in the year ahead,” Bodas shared.
