BearingPoint And Icertis Partner To Enhance Enterprise Contract Management

In today’s globalized business world, managing contracts effectively has become a vital cornerstone of how enterprises operate.

This is why they make use of contract management software, which helps them streamline contract management processes and enhance their operations and processes by ensuring compliance, risk mitigation, cost control, cost saving, change management, collaboration and other features that improve their overall performance. 

Furthermore, with the infusion of artificial intelligence (AI), contract management has become even more powerful and capable, offering businesses more features and solutions to their contract creation and management needs, especially when it comes to complex contracts. 

This is what BearingPoint and Icertis are looking to bring enterprises through their new partnership.

So, what did the two companies reveal about the move? Let’s explore!
 

What Did BearingPoint And Icertis Announce?

 

• Through news releases published on their websites, BearingPoint and Icertis announced the two companies have signed a new strategic partnership to transform contract management for companies worldwide.

• Through the collaboration, BearingPoint will bring its advisory and implementation expertise to Icertis’ advanced platform to help businesses deliver innovation and efficiency across their contracts and more.

• Icertis’ platform allows businesses to transform their contracts into strategic assets that improve business outcomes, including revenue growth, cost control, risk mitigation and compliance.

• The move will bring businesses “operational efficiency and visibility across its enterprise contracts, driving intent realization around increased revenue, reduced costs, compliance and risk.”

• The platform enables businesses to extract critical information within contracts and create a structured common data model.

• This is then connected to operational systems such as ERP (Enterprise Resource Planning), SCM (Supply Chain Management), CRM (Customer Relationship Management) and HCM (Human Capital Management), which helps business practically satisfy and fully realize contracts.

• At present, Icertis’ platform helps businesses manage over 10 million contracts holding a value of more than $1 trillion, across 90+ countries and 40+ languages.

• BearingPoint comes in with expertise across consulting, products and capital, which includes IP-driven digital assets, managed services, mergers and acquisitions (M&A) and transactions services. It also comes with a global consulting network of over 10,000 people.

• As per the release, “This collaboration combines BearingPoint’s extensive advisory and implementation expertise with the advanced enterprise-grade technology of the Icertis platform to deliver innovation and efficiency.”

 

What Did Stakeholders Say?

 

• Jean-Paul Wehrens, Partner, BearingPoint, said, “The decision to double down on Icertis builds on the growing importance of contract intelligence in the professional services industry and the increasing demand for AI solutions that integrate seamlessly with core operational systems.”

• [Contd.] “By modernizing contracting processes and enhancing integration capabilities, we not only improve operations but also equip our clients to realize significant benefits with the Icertis platform.”

• Roman Howe, Corporate Vice President, Europe, Icertis, said, "With its seamless integration capabilities, Icertis is poised to become the preferred solution for enterprise contracting for professional services companies like BearingPoint, unlocking tremendous value for their business and their customers.”

• [Contd.] “We are pleased to bring the scope and scale of the Icertis platform to BearingPoint and extend these benefits to their clients.”

Do you think this move by BearingPoint and Icertis will help it achieve a better market share for intelligent contract management?

Let us know in the comments below!