Grant Thornton streamlines contract management with Icertis solution

05 June 2023 Consultancy.uk 2 min. read
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Grant Thornton has extended its partnership with contract intelligence firm Icertis. The audit and advisory firm will now deploy the Icertis Contract Intelligence platform internally across its procurement, legal and finance teams.

“After seeing the outcomes the Icertis platform has delivered for our clients, we knew tapping into contract intelligence internally was the logical next step,” said Enzo Santilli, Grant Thornton’s Chief Transformation Officer. “Contract intelligence enables our procurement, legal and finance teams to maximize the value of every contract.”

Founded in 2009, Icertis is a US-headquartered software company that provides contract management software to enterprise businesses using a software-as-a-service model.

Grant Thornton and Icertis partner to help clients activate contract data

The firm’s Icertis Contract Intelligence (ICI) platform uses artificial intelligence to structure and connect critical information and provide unique insights that streamline and automate business contracts. As a result, users can better drive revenues and reduce costs, while also improving compliance and minimising risks.

Grant Thornton will implement the ICI platform to support its internal operations and make its contracting processes more transparent and efficient. The firm also plans to utilise the Icertis NegotiateAI application to speed the contract-negotiation process by identifying patterns in the terms and clauses in its contracts.

Deanna Lanier, Chief Strategy Officer at Icertis, added, “Contracts are central to processes across sales, procurement, legal and finance – processes that can be incredibly complex and time consuming for businesses like Grant Thornton. The decision to tap into Icertis Contract Intelligence is a testament to the enterprise-wide impact that Grant Thornton has witnessed first-hand through our mutual clients. As all businesses face a volatile market, now is the time to double down on technology that reduces complexities while supporting growth through strategic outcomes.”

The partnership between Grant Thornton and Icertis stretches back for four years, with the consultancy already implementing the ICI platform for clients so they can digitally transform their enterprise-wide contract-driven processes. Grant Thornton has implemented the Icertis technology for a range of clients looking to activate data that has been untapped in varying industries.

The start of 2023 also saw Icertis enter into a partnership with Microsoft and Big Four firm PwC. The alliance will work to apply artificial intelligence to automate end-to-end business processes for clients.