How Icertis Provides Total Contract Visibility
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Key Takeaways
⇨ CFOs are under significant pressure as of late to deliver end-to-end visibility across all aspects of a company’s financial operations.
⇨ Many of these companies said these insights were often difficult to come by.
⇨ Icertis recently shared the success story of automotive leaders Continental AG and how they were able to provide total contract visibility..
CFOs are under significant pressure as of late to deliver end-to-end visibility across all aspects of a company’s financial operations. Leaders need insights into all workflows to deliver data-driven decisions that push the company forward and help them meet business goals.
In SAPinsider’s recent SAP S/4HANA Finance Benchmark Research Report, 71% of respondent organizations said that end-to-end visibility was either important or very important. Yet many of these companies said these insights were often difficult to come by.
This lack of transparency can be challenging enough when they affect internal operations, but all too often these issues bleed into relationships with clients and suppliers, sometimes souring relationships and setting organizations up for failure. To avoid these issues, companies need a single source of truth for important financial information, such as contracts and other agreements.
Providing End-to-End Contract Intelligence
To overcome some of these issues, Icertis offers its Contract Intelligence platform, offering a single source of truth across all contracts through all stages of the agreement.
To demonstrate its capabilities, Icertis recently shared the success story of automotive leaders Continental AG. Like many other companies, Continental AG struggled to manage its wide range of contracts, as they were spread across different areas of the business.
Wanting to ensure that they could deliver on all agreements and avoid any regulatory issues, Continental AG turned to Icertis to address their concerns. Icertis established a single source of truth across all contracts, offering financial teams visibility into all stages of a contract lifecycle – including drafting, approval, signing, and post-execution management.
In recent years, compliance requirements for automotive companies have shifted significantly, and this shows no sign of slowing down. Icertis helps Continental AG stay on top of all regulations by identifying applicable legal requirements as part of the contract and ensuring these requirements are fulfilled.
Conclusion
Every industry has its own regulatory hurdles. But regardless of the line of work, every organization team needs full insights into their contracts so they can avoid any legal penalties and maintain positive relationships with customers and suppliers. The Icertis Contract Intelligence Platform ensures that users are aware of all requirements and can follow through to meet their business objectives.
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