Accenture and Icertis Form Strategic Partnership to Help Companies Modernize Contract Management

Rhea-AI Summary

Accenture (NYSE: ACN) has formed a strategic partnership with Icertis to enhance contract management efficiency through digital transformation. This collaboration aims to provide clients with improved visibility and risk management capabilities by leveraging Icertis Contract Intelligence (ICI). As businesses face pressure to reduce costs and comply with regulations, the partnership will accelerate cloud migration and use AI to streamline contract processes. The initiative follows Accenture's successful internal implementation of ICI for its global legal team.

Positive

• Strategic partnership with Icertis enhances contract management efficiency.
• Utilization of Icertis Contract Intelligence (ICI) to improve client visibility and risk management.
• Accelerated cloud migration and AI integration expected to streamline contract processes.

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• None.

NEW YORK & BELLEVUE, Wash.--(BUSINESS WIRE)-- Accenture (NYSE: ACN) and Icertis today announced a strategic partnership that brings together Accenture’s digital transformation capabilities with leading contract intelligence technology from Icertis to help clients across industries get greater visibility into their contracts as well as manage risk and the contracting process more efficiently and effectively. The partnership builds on the success of Accenture’s own use of Icertis Contract Intelligence (ICI) across its global legal and procurement operations.

At a time when organizations are facing increasing pressure on many fronts—from reducing operational costs and risks to complying with growing cross-border regulations and improving speed to market—contract intelligence is a business imperative for legal, sales, financial and procurement leaders. ICI is a modern contracting platform—centralized, industrialized and enabled—with workflow functionality that promotes efficiency and transparency across jurisdictions, geographies, and the most complex client accounts.

“Contracts define what a business buys and sells and how it operates, making contract lifecycle management essential for top-line growth and effective risk management,” said Jason Dess, senior managing director, CFO & Enterprise Value, Accenture. “By partnering with Icertis to offer its industry-leading platform, we can work with clients to fully realize the inherent value of a digitized, intelligent contract management experience.”

Together, Accenture and Icertis will help clients accelerate the migration of contracting to the cloud and use artificial intelligence to speed up the process, track compliance, monitor enterprise-wide risks, reduce costs and improve business outcomes—all of which provide greater value and a better experience for stakeholders.

The newly formalized partnership follows Accenture’s internal roll-out of ICI to support global procurement and its global legal team of nearly 3,000 professionals in 46 countries who negotiate and execute thousands of highly customized, multi-lingual legal documents every month. The solution is integrated with Accenture’s established systems and tools, including customer relationship management, legal, delivery, pricing and, risk to aggregate data and extract intelligence around regulatory risk, compliance, deal making and more (case study).

“We can see across our contract portfolio like never before—whether it’s how long it takes to finalize deals or getting a complete view of the various agreements we have with an organization,” said Joel Unruch, general counsel and corporate secretary, Accenture. “This comprehensive view and depth of real-time insight is truly game-changing for our business and the value we can bring to our clients.”

“Accenture has a phenomenal record of helping clients embrace change to realize deeper, faster and greater value. We are pleased to bring together our innovative technology platform with Accenture’s world-class digital capabilities to help companies turn contract management into a strategic business function,” said Samir Bodas, CEO and co-founder, Icertis. “We are also privileged to bring the scope and scale of the Icertis Contract Intelligence platform to Accenture’s team and are excited about what the future holds for our organizations and mutual customers across the globe.”

About Accenture
Accenture is a global professional services company with leading capabilities in digital, cloud and security. Combining unmatched experience and specialized skills across more than 40 industries, we offer Strategy and Consulting, Interactive, Technology and Operations services — all powered by the world’s largest network of Advanced Technology and Intelligent Operations centers. Our 624,000 people deliver on the promise of technology and human ingenuity every day, serving clients in more than 120 countries. We embrace the power of change to create value and shared success for our clients, people, shareholders, partners and communities. Visit us at www.accenture.com.

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 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.

Copyright ©2021 Accenture. All rights reserved. Accenture and its logo are registered trademarks of Accenture.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211118005355/en/

Julie Bennink

Accenture

+1 312 693 7301

julie.l.bennink@accenture.com

Liza Colburn

Icertis

+1 781 562 0111

liza.colburn@icertis.com

Source: Accenture

FAQ

What is the recent partnership between Accenture and Icertis about?

Accenture has announced a strategic partnership with Icertis to enhance contract management efficiency and visibility for clients by leveraging Icertis Contract Intelligence.

How does the Accenture and Icertis partnership benefit clients?

The partnership aims to improve visibility into contracts, manage risk more effectively, and utilize AI to streamline contracting processes.

What technology will Accenture utilize from Icertis?

Accenture will utilize Icertis Contract Intelligence (ICI) to enhance its digital transformation capabilities and support clients' contract management needs.

When was the partnership between Accenture and Icertis announced?

The partnership was announced recently, with no specific date mentioned in the press release.

What is the stock symbol for Accenture?

Accenture is listed on the NYSE under the stock symbol ACN.