Jungheinrich Selects Icertis to Drive Enterprise Transformation with Contract Intelligence

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Feb 27, 2024, 09:00 ET

German Intralogistics Pioneer Fuels Innovation and Efficiency with AI-Powered Contracting and SAP Integration

FRANKFURT, Germany, Feb. 27, 2024 /PRNewswire/ -- Icertis, the global leader in AI-powered contract intelligence company, today announced that Jungheinrich has selected Icertis Contract Intelligence (ICI) to modernize its contract processes. The seamless integration between SAP S/4HANA, SAP Subscription Billing, and the AI-powered, enterprise-grade platform from Icertis will enable Jungheinrich's team to accelerate negotiations by standardizing, automating, and streamlining contract management. The company will also leverage Icertis NegotiateAI to improve outcomes and mitigate risk by surfacing insights across high-volume contracts.

As a global provider of sustainable material handling products and intralogistics solutions, Jungheinrich is undergoing an enterprise-wide digital transformation. One goal of the initiative is to optimize contract management to support its business objective of maximizing contract quotas across all its customers. To modernize its technology infrastructure, the company sought a powerful AI solution to digitally map contracts, optimize processing, and more efficiently manage obligations throughout the contract journey.

"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," said Jan Schermann, Referent Pre-Sales at Jungheinrich AG. "Icertis Contract Intelligence gives us a holistic view of the contract lifecycle and streamlines our contract creation process for optimal outcomes."

As business moves faster than ever, manual, labor-intensive contract management processes can destroy value through revenue leakage, stifle visibility, and create compliance challenges in an evolving regulatory environment. Icertis helps businesses like Jungheinrich digitally transform their commercial agreements while enabling analytics at scale to drive strategic decision-making and accelerate outcomes around revenue, savings, compliance, and risk.

"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," said Roman Howe, Corporate Vice President, Europe, Icertis. "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."

More than 10 million contracts worth $1 trillion+ are managed using the ICI platform, representing business relationships in 40+ languages across 90+ countries for enterprises including Mercedes-Benz, Ferring Pharmaceuticals, Lufthansa, Porsche, ALPLA and more. As the leader of the burgeoning $30 billion CLM market¹, Icertis introduced the first generative AI Copilots for enterprise contract management and continues to transform the foundation of commerce through contracts for customers like Jungheinrich.

About Icertis

Icertis is the global leader in AI-powered contract intelligence. The Icertis platform revolutionizes contract management, equipping customers with powerful insights and automation to grow revenue, control costs, mitigate risk, and ensure compliance - the pillars of business success. Today, 30% of the Fortune 100 trust Icertis to realize the full intent of millions of commercial agreements in 90+ countries.

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¹ MGI Research 2022: https://mgiresearch.com/research/mgi-forecasts-contract-lifecycle-management-software-global-tam-forecast-2022-2026/

SOURCE Icertis