Firms will improve critical business areas by enhancing the tech with distributed ledger technology
Icertis, provider of enterprise contract management in the cloud, has collaborated with Microsoft to expand blockchain for increased sustainability. By enhancing the link between blockchain and distributed ledger technology, the firms aim to improve critical business areas.
The collaboration will expand the use of the two technologies in contract management by using Microsoft Azure Blockchain Workbench for rapid prototyping and provisioning of blockchain solutions on the Icertis Blockchain Framework. The partnership will also use Service Bus, Azure Active Directory, Logic Apps and other services to start building Icertis’ new smart contract platform.
By connecting Azure Cognitive Services components and the Icertis Blockchain Framework with the Icertis Contract Management platform, Icertis customers can access business solutions that leverage artificial intelligence and blockchain technology.
“More than ever, enterprises must maintain sophisticated governance and contract compliance, and blockchain technology has a critical role to play,” said Monish Darda, chief technology officer and co-founder of Icertis. “We are thrilled to work with Microsoft to extend the Icertis Blockchain Framework to solve the most critical contracting challenges – enabling a new level of visibility and control in the contract management space, while helping build a more ethical and sustainable enterprise ecosystem.”
Companies can use the Icertis Blockchain Framework to track contractual requirements, obligations, commitments and fulfilment, enabling a new level of collaboration, visibility and accountability.
“Icertis and Microsoft continue to partner on digital transformation solutions that leverage blockchain in innovative and meaningful ways,” said Penny Philpot, vice president of One Commercial Partner at Microsoft. “Together, we are giving our enterprise customers a competitive edge with technologies that have immediate impact on their responsible business practices.”