Vaillant Group has selected Icertis Contract Intelligence (ICI) to digitally transform its contract-driven processes across enterprise operations in 60 countries. Through integrations with Vaillant Group’s core systems, including SAP Ariba and Salesforce, Icertis will drive efficiency. The integration is expected to enable increased visibility and compliance with obligations in the company’s business relationships.
Vaillant Group serves more than 30 million customers worldwide with energy-saving technologies for heating, cooling, and hot water supply. The company will rely on Icertis as the single source of truth for commercial agreements. Enabling its leaders and employees, with the transparency and AI-powered analytics, the organisation needs to promote future growth through unique insights into contract data.
Vaillant Group will utilise the Icertis DiscoverAI application, which applies AI to connected contract data. This enables the business to further optimise negotiations and automate risk and compliance discovery in third-party contracts when paired with the core ICI platform.
Contract intelligence is increasingly important
“Contract intelligence is increasingly important for companies that operate under stringent regulatory requirements in multiple countries. Sourcing teams responsible for the manual compliance review for every new contract could be reallocating resources to more strategic initiatives. Providing they have the right contracting solution in place,” said Roman Howe, Vice President, Europe, Icertis.
“The power of Icertis Contract Intelligence integrated with SAP solutions will help Vaillant Group achieve the automation they need to move faster, realize value. It should ensure compliance as new regulations become increasingly widespread – all while positioning their business for future growth.“
Icertis helps businesses increase revenue, reduce costs, improve compliance, and eliminate risk by structuring and connecting contract data across the enterprise and applying AI to ensure the intent of every business relationship is correctly captured and fully realized. The data from contracts offers one of the largest untapped opportunities for businesses to deliver outcomes that are critical in the current environment, positioning companies like Vaillant Group to outpace the competition by maximizing the value of their business relationships.
Icertis also enables the scalability to manage the size and scope of complex contract portfolios, equipping Vaillant Group and customers globally with enterprise-grade functionality to support performance throughout contract lifecycles.
Enterprise Times: What this means for business
Enterprises are facing several challenges in today’s competitive business environment. This includes increasing business complexity and uncertainty — including heightened customer expectations, disrupted supply chains, and changing market dynamics. Businesses that want to stay out in front are embracing these challenges by thinking differently about how contracts drive all aspects of their business. Hence the Vaillant Group’s decision to sign-up to Icertis Contract Intelligence (ICI) to digitally transform its contract-driven processes.
Icertis understood the potential of CLM and has boldly pursued the vision of enterprise-wide contract intelligence for over a decade. The company continues to build momentum within the $30 billion CLM market. Vaillant has chosen to turn their commercial agreements into strategic advantage with Icertis. Icertis has been successful winning contracts in a range of different sectors. It will be interesting to see what other companies join the Vaillant Group and beat a route to Icertis’s door.