Icertis, an enterprise contract management platform in the cloud, announced Microsoft has extended its existing relationship with the company by implementing the Icertis Contract Management (ICM) platform in the Corporate, External, and Legal Affairs (CELA) division to help build a unified contract management user experience and enhance compliance across the organization as part of the company’s digital transformation journey.
As part of its effort to accelerate its business, Microsoft was looking for a contracting solution that could help it quickly solidify business relationships and simplify its contracting process for its workforce of 150,000 employees who generate more than 100,000 contracts a year, with approximately 400 attributes per contract. The company’s CELA division needed to upgrade to a contract lifecycle management (CLM) platform that could manage this high-volume of mission critical commercial documents.
Microsoft’s CELA Group selected the ICM platform because of its proven ability to integrate to other enterprise systems such as ERP and CRM, digitize the commercial contract management process, improve compliance and reduce risk. Additionally, Microsoft will benefit from advanced tools to automate intelligent contract setup and ensure contractual obligations are fulfilled. Since the implementation, Microsoft has migrated more than 1.1 million contracts to the ICM platform and streamlined its contracting process leading to cost savings and improved efficiencies. For example, the company was able to speed time to contract by importing Microsoft’s existing repository of contract templates to automatically populate contract clauses based on attributes such as deal size or geographic region.
“Contracts are foundational to commerce and key to unlocking the value hidden in the enterprise, which is why we created an easy to use, intelligent, enterprise-wide platform that can address a company’s needs today, tomorrow and well into the future,” said Samir Bodas, CEO and Co-founder of Icertis. “We are proud to extend our relationship with Microsoft and provide its users with a secure, scalable solution that transforms static documents into strategic assets accelerating commerce, protecting against risk and optimizing business relationships.”
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