By ET Bureau - November 20, 2021 3 Mins Read
Accenture (NYSE: ACN) and Icertis today announced a strategic partnership that brings together Accenture’s digital transformation capabilities with leading contract intelligence technology from Icertis to help clients across industries get greater visibility into their contracts as well as manage risk and the contracting process more efficiently and effectively. The partnership builds on the success of Accenture’s own use of Icertis Contract Intelligence (ICI) across its global legal and procurement operations.
At a time when organizations are facing increasing pressure on many fronts—from reducing operational costs and risks to complying with growing cross-border regulations and improving speed to market contract intelligence is a business imperative for legal, sales, financial and procurement leaders. ICI is a modern contracting platform—centralized, industrialized and enabled with workflow functionality that promotes efficiency and transparency across jurisdictions, geographies, and the most complex client accounts.
“Contracts define what a business buys and sells and how it operates, making contract lifecycle management essential for top-line growth and effective risk management,” said Jason Dess, senior managing director, CFO & Enterprise Value, Accenture. “By partnering with Icertis to offer its industry-leading platform, we can work with clients to fully realize the inherent value of a digitized, intelligent contract management experience.”
Together, Accenture and Icertis will help clients accelerate the migration of contracting to the cloud and use artificial intelligence to speed up the process, track compliance, monitor enterprise-wide risks, reduce costs and improve business outcomes all of which provide greater value and a better experience for stakeholders.
The newly formalized partnership follows Accenture’s internal roll-out of ICI to support global procurement and its global legal team of nearly 3,000 professionals in 46 countries who negotiate and execute thousands of highly customized, multi-lingual legal documents every month. The solution is integrated with Accenture’s established systems and tools, including customer relationship management, legal, delivery, pricing and, risk to aggregate data and extract intelligence around regulatory risk, compliance, deal making and more.
“We can see across our contract portfolio like never before—whether it’s how long it takes to finalize deals or getting a complete view of the various agreements we have with an organization,” said Joel Unruch, general counsel and corporate secretary, Accenture. “This comprehensive view and depth of real-time insight is truly game-changing for our business and the value we can bring to our clients.”
“Accenture has a phenomenal record of helping clients embrace change to realize deeper, faster and greater value. We are pleased to bring together our innovative technology platform with Accenture’s world-class digital capabilities to help companies turn contract management into a strategic business function,” said Samir Bodas, CEO and co-founder, Icertis. “We are also privileged to bring the scope and scale of the Icertis Contract Intelligence platform to Accenture’s team and are excited about what the future holds for our organizations and mutual customers across the globe.”
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