TECHNOLOGY
46 to create contracts with a single click , eliminating the problem of siloed data with an end-to-end solution for sourcing , procurement , inventory , supplier management and all associated contracts .
Contract management is not a new phenomenon , but contracts are now being digitised for more and more . “ Before , they were pdfs or scanned but nobody analysed the words within them like we can today with AI and Machine Learning ,” adds Bodas . “ Through our ICM Obligation Management app we can apply our technology to a contract and sniff out the obligations within by using AI . These could be commercial obligations or related to SLAs , insurance , drug testing and future innovations … We can make sure these are tracked and make sure your suppliers are living up to your commitments and that you are delivering on your contractual promises .”
A recent McKinsey study estimated leakage due to unfulfilled obligations at 2 % so it ’ s no surprise that this app has been met with a positive response . “ As one of the world ’ s leading professional services
“As regulations change you need to access contracts easily to move forward … By digitising we become a sentry for our customers ”
— Samir Bodas , co-founder & CEO , Icertis
JANUARY 2019