Krones Selects Icertis to Digitally Transform Contract Management

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Apr 11, 2023, 09:00 ET

FRANKFURT, Germany, April 11, 2023 /PRNewswire/ -- Icertis, the contract intelligence company that pushes the boundaries of what's possible with contract lifecycle management (CLM), today announced that Krones has selected Icertis Contract Intelligence (ICI) to digitally transform its contracting processes for sales and procurement operations across the enterprise. Icertis will streamline and unify contract management for the company's headquarters in Neutraubling, enabling increased visibility and compliance with contractual obligations across both buy-side and sell-side contracts.

German packaging and bottling machine manufacturer Krones will integrate ICI with SAP Ariba and Salesforce to connect contract data to core systems and unlock enterprise-wide intelligence. The company will also utilize the Icertis DiscoverAI and AI Studio applications, which leverage artificial intelligence (AI) to bring static legacy agreements and third-party contracts to life to uncover hidden revenue, savings, and risks and ensure clauses meet standard terms.

"Every day, millions of glass bottles, cans, and PET containers run through Krones lines. We needed an AI-powered CLM solution to modernize our legacy processes, improve visibility, and process third-party contracts faster while reducing risk," said Melanie Feldmeier, Systems Analyst, Customer Contract Management of Krones. "Icertis goes well beyond traditional CLM by offering intelligent clause identification and AI-powered insights to ensure compliance with all required terms and clauses, which significantly reduces liability for our business."

Icertis helps companies like Krones 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. With ICI, Krones can create a single source of truth by consolidating existing contracts into a single, enterprise-wide repository, enabling speed, compliance, and value at every step in their contracting process.

"Contract management is central to enterprise-wide digital transformation, given the role that contracts play across a myriad of critical business operations," said Roman Howe, Vice President, Europe, Icertis. "The power of Icertis Contract Intelligence integrated with SAP Ariba and Salesforce will help Krones achieve greater visibility, efficiency, and insights while optimizing commercial relationships."

To learn more about Contract Intelligence, visit www.icertis.com.

About Icertis

With unmatched technology and category-defining innovation, Icertis pushes the boundaries of what's possible with contract lifecycle management (CLM). The AI-powered, analyst-validated Icertis Contract Intelligence (ICI) platform turns contracts from static documents into strategic advantage by structuring and connecting the critical contract information that defines how an organization runs. Today, the world's most iconic brands and disruptive innovators trust Icertis to govern the rights and commitments in their 10 million+ contracts worth more than $1 trillion in 40+ languages and 90+ countries.

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SOURCE Icertis