SAP and contract intelligence pioneer Icertis are delivering a new integration that connects AI-driven contract intelligence with SAP S/4HANA in order to enable more profitable and compliant procurement operations.
Icertis Contract Intelligence (ICI) for SAP S/4HANA (buy side) marks the next milestone on the SAP and Icertis joint product road map, as the companies continue to transform contract-driven processes by integrating contract intelligence with SAP solutions.
Contract intelligence enables procurement teams using SAP S/4HANA to streamline sourcing, negotiate better commercial terms, and improve adherence to regulatory and corporate policies. The ICI platform accelerates value and increases savings both pre- and post-signature by automatically recommending clauses based on historical business relationships and tracking obligations to ensure the intent of all agreements is fully realized. Artificial intelligence (AI) embedded in the ICI platform also minimizes risk by pinpointing deviations from standard terms, while predefined rules and templates further reduce liability through contract self-generation capabilities that enable procurement teams to play a more strategic role in driving business performance.
“SAP’s co-innovation with Icertis continues at a rapid pace, catalyzed by the appetite we are seeing from customers that recognize that contracts play a critical role in core business processes,” said Eric van Rossum, chief marketing and solutions officer for SAP S/4HANA at SAP. “SAP is focused on helping enterprises future-proof their operations — applying AI to contract data presents a prime opportunity to impact nearly every procurement process that is tied to revenue, savings, and risk. Integrating Icertis Contract Intelligence with SAP solutions enables more efficiency, automation, and insights for our mutual customers, enriching their enterprise data lakes with critical information around commercial relationships to better support scalability and growth long term.”
In addition to ICI for SAP S/4HANA (buy side), Icertis delivers integrations with SAP solutions across both buy- and sell-side contracts, including ICI for SAP Ariba, ICI for SAP Fieldglass, and ICI for SAP CPQ.
“In today’s business environment, inefficiencies and data silos throughout the contract life cycle lead to revenue leakage and regulatory compliance challenges that detract from strategic business objectives,” said Niranjan Umarane, executive vice president of Product Management at Icertis. “Contract intelligence becomes a critical fifth system of record in the enterprise technology stack when integrated with SAP solutions, enabling value far beyond pre-signature efficiencies to increase revenue, reduce costs, ensure compliance, and manage risk. Icertis was the first SAP partner in the contract lifecycle management market to offer deep process integrations jointly designed and developed with SAP, creating a seamless experience for enterprise leaders looking to modernize and transform core operations with contract intelligence.”
Icertis and SAP demonstrated a record year of momentum in 2022, following the announcement of their expanded partnership as enterprises look to contract intelligence to solve significant business challenges through digital transformation.
Together, the companies will continue to identify new AI use cases for contract data and opportunities to enable strategic outcomes through enterprise relationships, innovating for mutual customers in anticipation of future business needs.
Maura Hameroff is senior vice president of ERP, Finance, and Digital Supply Chain Product Marketing at SAP.
Alex Nadesan is vice president of Global SAP Alliances at Icertis.
