Following on from the recent partnership with AI-driven CLM peer Evisort, Icertis has announced a new formal relationship, this time with BearingPoint, which will tap the group’s ‘advisory and implementation expertise’. And as we all know, CLM implementations need all the help they can get.
Many in the commercial legal world will likely know BearingPoint for its deal work, but as the group explained: ‘BearingPoint operates in three business units: Consulting, Products, and Capital. Consulting covers the advisory business with a clear focus on selected business areas. Products provide IP-driven digital assets and managed services for business-critical processes. Capital delivers M&A and transaction services.’
BearingPoint will also integrate the Icertis platform with its core operational systems to optimize its own internal contracting processes. This will enhance operational efficiency and visibility across its enterprise contracts, driving ‘intent realization’ around increased revenue and reduced costs, they added.
Jean-Paul Wehrens, Partner, BearingPoint, commented: ‘The decision to double down on Icertis builds on the growing importance of contract intelligence in the professional services industry and the increasing demand for AI solutions that integrate seamlessly with core operational systems. By modernising contracting processes and enhancing integration capabilities, we not only improve operations, but also equip our clients to realise significant benefits with the Icertis platform.’
Roman Howe, Corporate Vice President, Europe, Icertis, added: ‘Icertis is poised to become the preferred solution for enterprise contracting for professional services companies like BearingPoint.’
As explored at the time of the Evisort partnership, Icertis is a CLM company that has formed many formal relationships over the years. It also maintains a focus on helping not just the legal teams with document data, but seeks to help large corporations – and larger professional service groups such as BearingPoint – with all their ‘critical information contained in contracts, structuring it into a common data model, and connecting it with operational systems like ERP, SCM, CRM, and HCM’.
Plus, it’s worth mentioning that Icertis’s CLM platform currently handles ‘more than 10 million contracts worth $1 trillion+, representing business relationships in 40+ languages across 90+ countries’, which is an indicator of the scale of the business.
Although Icertis has been with us for some time, and is not an AI-first company like Evisort, it’s not slowing down in any way, despite the increasing competition in the market. Instead, through partnerships it’s pushing ahead and gathering together the capabilities its clients need.
Overall, the CLM space appears to be turning even more competitive and the major players are not backing down at all from the battle.