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ICM Obligation Management app datasheet

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T H E S O L U T I O N The ICM Obligation Management Application Protect your business and fully realize the hidden value of your contracts with the ICM Obligation Management app. The app enables businesses to: • Create a unique obligation data model based on their specific needs for more effective lifecycle management • Configure customized obligation workflows for review and collaboration • Measure performance and then initiate the appropriate rebate or penalty calculations • Plan and manage governance meetings and create action plans for ongoing management The Obligation Management application is built on top of the Icertis Contract Management (ICM) platform, enabling full lifecycle management of all contract obligations and leading to better business outcomes. The app identifies and extracts obligations using Icertis artificial intelligence (AI) technology. Users can then manage obligation assignment, fulfillment, tracking, and measurement on the ICM platform. T H E C H A L L E N G E Ensuring contracts perform to their potential requires contracting parties to deliver on all their promises. Non-compliance not only has an adverse impact on performance but also exposes businesses to substantial risks—including reputational damage, financial loss, and soured partner relationships. A McKinsey & Company study estimates leakage due to unfulfilled obligations at 2% in large enterprises. Managing these promises in the form of obligations, commitments, SLAs, and entitlements enshrined in contract clauses and terms has many challenges: • Obligations are often hidden in contract language and must be manually identified and extracted • Manual processes are error-prone, not scalable and do not proactively surface obligations • Lack of visibility and insight into obligation performance can lead to substantial risks for businesses • Without proactive collaboration on obligation management between contracting parties, important relationships can be damaged across the entire supply chain • Businesses can miss the opportunity to develop institutionalized processes for planning and executing on improvement initiatives using deep insight into obligations, SLAs, and other commitments Icertis, the leading provider of enterprise contract management in the cloud, solves the hardest contract management problems on the easiest to use platform. Icertis helps companies transform their commercial foundation ensuring compliance, improving governance, mitigating risk and enhancing user productivity, thereby improving the bottom line. The Icertis Contract Management (ICM) platform is used to manage 5+ million contracts by 2+ million subscribers at companies like 3M, Daimler, Microsoft, Roche and Wipro in 40+ languages across 90+ countries. For more information visit icertis.com.

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