Enterprise Contract Management for Retail

Issue link:

Contents of this Issue


Page 0 of 1

Enterprise Contract Management for Retailers With the Icertis Contract Management (ICM) platform, retailers can link their contracts to sales performance data in real time, helping them become more nimble and optimize their promotions. Icertis has implemented solutions for some of the world's largest retailers, leveraging the Icertis Contract Management (ICM) platform's powerful capabilities: • Full lifecycle management of promotions and rebates, including incentive terms, budget management for MDFs, and calculation and validation of program performance • Built-in support for creating and monitoring performance against industry contracts including Vendor Master Agreements, Vendor Program Agreements, and MDFs • Third-party collaboration portal that enables partner self-service and request-oriented contract lifecycle management • Integration adapters that pull sales data into ICM while pushing contract terms to sales and distribution systems • Specialized capabilities to handle contracting for large volumes of SKUs, sales data, pricing terms, tiered discounts, and incentive plans T H E S O L U T I O N T H E C H A L L E N G E Today's retailers compete in a highly fluid market with tight margins. In order to compete, companies must have full visibility into supplier relationships and sales performance to reduce leakage and optimize operations. Contracts are key to meeting these challenges. In working with some of the world's leading retailers, Icertis has identified a number of common contracting challenges: • Promotions, incentive agreements and Market Development Funds (MDFs) with product manufacturers and wholesalers are difficult to manage at scale across thousands of SKUs throughout their lifecycle • Collaboration with third parties for contractual commitments like submitting reports and initiating claims is slow, leading to a lack of agility when responding to market demands • A lack of visibility into direct and indirect procurement contracts makes it difficult to ensure profit margins are met Icertis, the leading enterprise contract management platform in the cloud, solves the hardest contract management problems on the easiest to use platform. With Icertis, companies accelerate their business by increasing contract velocity, protect against risk by ensuring regulatory and policy compliance, and optimize their commercial relationships by maximizing revenue and reducing costs. The AI-infused Icertis Contract Management (ICM) platform is used by companies like 3M, Airbus, Cognizant, Daimler, Microsoft and Sanofi to manage 5.7 million contracts in 40+ languages across 90+ countries.

Articles in this issue

view archives of Datasheets - Enterprise Contract Management for Retail