Wednesday, June 19, 2024

Icertis and SAP Expanding Contract Intelligence Partnership

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WALLDORF, Germany and BELLEVUE, Wash. — SAP and Icertis are expanding their partnership to deliver enterprise contract intelligence solutions to their clients.

The partnership will lead to a joint product road map and deeper technological integration to offer “enterprise-wide value” around contracts, including faster negotiations, greater compliance, and artificial intelligence (AI)-powered business insights and automation, according to SAP this month.

The move includes a financial investment from SAP in Icertis.

See more: The Artificial Intelligence Market

The 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 partnership further leverages each company’s technology to deliver more value to a growing list of joint customers: Clients 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.

ICI for SAP Ariba solutions and ICI for SAP Customer Experience solutions are now SAP Endorsed Apps. 

ICI helps structure and connect data within contracts across an enterprise, helping businesses increase efficiencies, identify and mitigate potential risk, and drive bottom-line value throughout the contract life cycle.

“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, SAP. 

“This partnership is a great complement to our portfolio, with multiple touchpoints to SAP systems across ERP, finance, procurement, sales, and HR.”

Samir Bodas, CEO of Icertis, said, the partnership with SAP 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,” Bodas said.

SAP’s latest AI move

SAP recently took a step deeper into in the AI market through an acquisition.

SAP acquired the intellectual property (IP) of Oakland, California-based SwoopTalent, the maker of an AI-powered platform for the human resources talent life cycle.

See more: Top Performing Artificial Intelligence Companies

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