WALLDORF, Germany, and
BELLEVUE, Wash., Jan. 25, 2022 /PRNewswire/ -- SAP
SE (NYSE:SAP) and Icertis today announced an
expanded partnership for enhanced contract management to help
companies increase efficiency, minimize risk and realize the full
intent of their agreements. The partnership, which includes a
financial investment from SAP in Icertis, will lead to a joint
product road map and deeper technological integration to deliver
enterprise-wide value, including faster negotiations, greater
compliance and AI-powered business insights and automation.
"The expanded cooperation with Icertis will help our customers
take advantage of market-leading innovations for contract
management from Icertis while managing core business processes with
SAP solutions," said Christian
Klein, CEO and member of the Executive Board, SAP SE. "This
partnership is a great complement to our portfolio, with multiple
touchpoints to SAP systems across ERP, finance, procurement, sales
and HR."
This expanded partnership builds on the existing relationship
between SAP and Icertis, which began in 2020 to transform the
source-to-pay and lead-to-cash processes through the
integration of Icertis Contract Intelligence (ICI) with
SAP® Ariba® and SAP Customer
Experience solutions. The enhanced partnership further leverages
each company's technology to deliver even more value to a growing
list of joint customers. Customers will have the opportunity to
benefit from ICI capabilities for smart contract creation, online
negotiation, AI-assisted risk identification, obligation management
and contract-driven insights for decision support while operating
their core source-to-pay and lead-to-cash processes within SAP
solutions.
"With this partnership, SAP and Icertis customers will be able
to derive end-to-end value across the enterprise, so the intent of
every contract is correctly memorialized and fully realized," said
Samir Bodas, CEO of Icertis.
"Partnering with SAP to bring our AI-powered, best-of-breed
contract intelligence to the market is another affirmation of
Icertis' strategy to become the contract intelligence platform of
the world. It is also a testament to SAP's forward-looking vision
for the intelligent and networked enterprise."
As part of the expanded partnership, Icertis Contract
Intelligence (ICI) for SAP Ariba solutions and ICI for
SAP Customer Experience solutions are now SAP Endorsed Apps,
premium certified by SAP with added security, in-depth testing and
measurements against cloud operations best practices.
"SAP's focus on the intelligent enterprise has enabled many
organizations to move into the digital-first world, and the
contracting process in SAP Ariba solutions has done much for the
buying community," said Mickey North
Rizza, Program Vice President Enterprise Applications and
Digital Commerce, IDC. "Icertis is named a leader in the IDC
MarketScape: Worldwide Contract Life-Cycle Management Software for
Corporate Legal 2021. With Icertis' flexible platform and
enhanced CLM capabilities, SAP can now manage the trading partner
relationship for the enterprise in a much more integrated,
innovative and tailored manner."
Contracts are the foundation of commerce, governing the rights
and obligations between parties. Traditional contract management is
often manual and siloed, creating inefficiency and risk while
leaving value unrealized. ICI helps structure and connect data
within contracts across an enterprise, enabling businesses to
increase efficiencies, identify and mitigate potential risk, and
drive bottom-line value throughout the contract lifecycle.
Icertis solutions including ICI for SAP Ariba solutions and
ICI for SAP Customer Experience solutions are available in SAP
Store, the digital marketplace for solutions from SAP and its
partners. SAP Store provides customers with real-time access to
more than 1,800 innovative solutions from SAP as well as partner
solutions that complement and extend their SAP applications.
About Icertis
With unmatched technology and category-defining innovation,
Icertis pushes the boundaries of what's possible with contract
lifecycle management (CLM). The AI-powered, analyst-validated
Icertis Contract Intelligence (ICI) platform turns contracts from
static documents into a strategic advantage by structuring and
connecting the critical contract information that defines how an
organization runs. Today, the world's most iconic brands and
disruptive innovators trust Icertis to govern the rights and
commitments in their 10 million+ contracts worth more than
$1 trillion, in 40+ languages and 90+
countries.
About SAP
SAP's strategy is to help every business run as an intelligent
enterprise. As a market leader in enterprise application software,
we help companies of all sizes and in all industries run at their
best: SAP customers generate 87% of total global commerce. Our
machine learning, Internet of Things (IoT), and advanced analytics
technologies help turn customers' businesses into intelligent
enterprises. SAP helps give people and organizations deep business
insight and fosters collaboration that helps them stay ahead of
their competition. We simplify technology for companies so they can
consume our software the way they want — without disruption. Our
end-to-end suite of applications and services enables business and
public customers across 25 industries globally to operate
profitably, adapt continuously, and make a difference. With a
global network of customers, partners, employees, and thought
leaders, SAP helps the world run better and improve people's lives.
For more information, visit www.sap.com.
This document contains forward-looking statements, which are
predictions, projections, or other statements about future events.
These statements are based on current expectations, forecasts, and
assumptions that are subject to risks and uncertainties that could
cause actual results and outcomes to materially differ. Additional
information regarding these risks and uncertainties may be found in
our filings with the Securities and Exchange Commission, including
but not limited to the risk factors section of SAP's 2020 Annual
Report on Form 20-F.
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