Icertis, a provider of enterprise contract management in the cloud, has announced that Dr. Ing. h.c. F. Porsche AG has expanded its relationship with Icertis and is rolling out the Icertis Contract Management (ICM) platform as its enterprise-wide contract management software. The platform is currently being deployed across an additional 18 organizational units of Porsche AG and will be used by more than 2,000 users to manage over 100 different agreement types – from development to real estate contracts.
A member of the Volkswagen Group, and specializing in high-performance sports cars, Porsche AG was looking for a Contract Lifecyle Management (CLM) solution to provide a digital end-to-end contract management process. Operating in an industry where large, complex value chains are common, Porsche AG required a cloud-based tool that could provide efficient coordination with all internal stakeholders.
“The correct handling of contracts is an essential component of Porsche AG’s success” said Dr. Melanie Schenk, legal counsel, Porsche AG. “ICM now enables transparent integration of all relevant departments in the process of contract coordination. It also supports the departments in contract processing, e.g. through the possibility of digital signing, deadline checks and a file that can be traced at any time.”
This announcement marks an expansion of Porsche AG’s relationship with Icertis. The company initially selected the ICM platform in 2018 to manage its indirect procurement contracting. Because of the rapid implementation and a widely configurable platform, Porsche AG decided to roll out ICM.
“Porsche AG has a reputation for producing some of the most innovative sports cars in the world,” said Samir Bodas, CEO and Co-founder, Icertis. “To maintain efficiency in competitive and performance-driven industries, forward looking companies are reimagining their commercial foundations with contracts at the center. We’re thrilled Porsche AG is expanding its relationship with us and will leverage the ICM platform across its organization to unlock the true value that only an enterprise-wide approach to contract management can deliver.”
