Jungheinrich the global Intralogistics company has selected Icertis Contract Intelligence (ICI). The firm selected Icertis partly because of its close relationship with SAP and the integrations with SAP S/4HANA and SAP Subscription billing.
Jungheinrich expects to accelerate negotiations by standardizing, automating, and streamlining contract management. It has also selected Icertis NegotiateAI with which it aims to improve outcomes and mitigate risk by surfacing insights across high-volume contracts. Jungheinrich will no doubt also look to leverage the integrations with SAP Ariba and SAP ERP to improve its supplier management. Within six months of implementing SAP Ariba, Jungheinrich has already integrated 700 suppliers.
It will now leverage ICI to optimise its contract management. Icertis will help optimise contract management to support its business objective of maximising contract quotas across all its customers. Contract Lifecycle Management was one of the missing elements of its transformation projects, and with ICI, it can now address that weakness.
Jan Schermann, Referent Pre-Sales at Jungheinrich AG, commented, “Effectively managing contracts is integral to our sales operations. By seamlessly integrating contracts and leveraging the data within them, we enhance the efficiency of our sales process, tailoring our approach to precisely meet the unique requirements of both our customers and business partners throughout the entire contract lifecycle. Icertis Contract Intelligence gives us a holistic view of the contract lifecycle and streamlines our contract creation process for optimal outcomes.”
Change Manual processes and Paper to automated and electronic
Organisations globally are considering digital transformation. Business leaders are looking at where manual processes are cumbersome, slow and repetitive and can be replaced or enhanced with digital solutions. Contracts are an area that for centuries has relied on paper processes and expensive legal expertise.
The world is changing, though, with the advent of AI. As research by WCC and Icertis recently showed, attitudes are changing, with 80% of respondents working the legal and procurement enthusiastic about the implementation of AI.
Powered by AI, the Icertis platform is one solution that can help organisations such as Jungheinrich to transform their contracting operations. ICI can prevent revenue leakage, improve visibility and overcome compliance challenges efficiently. The Icertis platform offers the ability for Jungheinrich to turn its contracts from dusty archives to active revenue sources once implemented.
Roman Howe, Corporate Vice President, Europe, Icertis, commented, “The Icertis platform will be a cornerstone in the optimization and harmonization of Jungheinrich’s IT landscape by structuring and connecting contract data across the enterprise and applying AI to unlock the full potential of every business relationship.
“We’re thrilled to partner with Jungheinrich on their transformative journey with AI-powered contract intelligence as they foster innovation and achieve greater profitability, efficiency, and sustainability.”
Enterprise Times: What does this mean
Icertis has had a series of customer announcements from across DACH, showing that its relationship with SAP is going from strength to strength. Automation and the introduction of AI into contracts are not only logical they can also deliver commercial benefits. The Icertis platform manages over 10 million contracts worth more than $1 trillion. Its solutions are used by firms such as ALPLA, Ferring International, Krones, Lufthansa, Mercedes-Benz, Porsche, and the Valiant Group.
Jungheinrich is yet another multinational firm to adopt the Icertis platform. Not only are Icertis winning new customers they are also investing in the product. In July 2023, the company launched two new Copilots to assist users. It also announced that it had achieved an ARR of $250 million, which looks like it will continue to rise.
