Icertis, the global leader in AI-powered contract intelligence, today announced plans to make its Icertis Contract Intelligence platform available as a solution extension under the name SAP Ariba Contract Intelligence by Icertis. SAP Solution Extensions undergo a premium qualification process, exclusive to SAP Solution Extensions, and are supported with available SAP support services. This milestone builds on the longstanding partnership between Icertis and SAP, helping to enable faster product deployment and time to value for customers with one-stop licensing, deeper preconfigured product integrations, and an improved user experience.
Contracts are the foundation of every business relationship, establishing the rules of business for how enterprises buy, sell, and partner to drive global commerce. Icertis transforms traditionally static contracts into actionable business rules within the SAP user experience – enabling customers to drive revenue, control costs, mitigate risk, and ensure compliance by integrating structured contract data directly into core business processes.
“Contract intelligence plays an increasingly critical role in enterprise operations. This expansion in our partnership with Icertis aims to help more businesses reimagine how they leverage contracts as an essential pillar of their long-term growth strategies,” said Manoj Swaminathan, General Manager and Chief Product Officer, Business Suite, Finance & Spend, SAP.
“Contracts define the rules of business yet 90 percent of CEOs believe they’re losing money in contract negotiations and more than 9 percent of a contract’s value is lost post-signature – adding up to billions of dollars in potential lost revenue and overpayment,” said Anand Subbaraman, Chief Operating Officer, Icertis. “For years, managing the full scope of global contract obligations felt daunting, but together, SAP and Icertis have transformed that challenge into an opportunity through AI-powered contract intelligence. Our plan to become a solution extension underscores our partnership and reinforces the vital role of contracts in a holistic technology strategy that accelerates measurable outcomes.”