Icertis security and AI innovation is backed by partners like PwC and Microsoft
activities within its region . While there may be regulatory penalties associated with noncompliance , an even greater threat for organisations is the reputational risk for failure to comply or , worse , allegations of green-washing .
“ Contract intelligence can identify and extract obligations at scale , to help businesses improve the visibility and transparency of supply chains , embed ESG requirements into customer and third-party contracts , and ensure compliance with ESG goals ,” she says .
“ A recent Economist Impact survey sponsored by Icertis found that 70 percent of companies consider contract language an effective tool in enforcing ESG standards , including climate commitment .
“ However , manually extracting and monitoring obligations from these agreements is often labour intensive , and hidden in dense legal language . That ’ s why it ’ s imperative for businesses to begin integrating contract intelligence into their enterprise technology stacks now , in order to prepare for what lies ahead .”
“ The data from contracts offers one of the largest untapped opportunities to positively impact revenue , costs , compliance and risk ”
BERNADETTE BULACAN CHIEF EVANGELIST , ICERTIS
Icertis ’ contract intelligence : The fifth system of record Bulacan says when selecting a CLM solution , companies should look for functionality that ’ s more than just a document management system . Features that enable deep insights into contract data , scalability , and out-of-the-box integrations with other systems are also important to meet the needs of the business .
62 July 2023